REGISTERED NUMBER: 00593664 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

THE WARE GARAGES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D G C Hale

R V Hale

SECRETARY:

D G C Hale

REGISTERED OFFICE:

26 Henmarsh Court

Balls Park

Hertford

Hertfordshire

SG13 8FB

REGISTERED NUMBER:

00593664 (England and Wales)

ACCOUNTANTS:

Cook & Partners Limited

Manufactory House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

BANKERS:

National Westminster Bank Plc

Nicon House

43-45 Silver Street

Enfield

Middlesex

EN1 3TP

FIXED ASSETS

Investment property

4

4,169,370

4,169,370

CURRENT ASSETS

Stocks

-

441,500

Debtors

5

2,306

1,897

Cash at bank

893,768

443,474

896,074

886,871

CREDITORS

Amounts falling due within one year

6

944,748

890,539

NET CURRENT LIABILITIES

(48,674

)

(3,668

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,120,696

4,165,702

PROVISIONS FOR LIABILITIES

320,504

320,504

NET ASSETS

3,800,192

3,845,198

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,800,092

3,845,098

SHAREHOLDERS' FUNDS

3,800,192

3,845,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th November 2025 and were signed on its behalf by:

D G C Hale - Director

1.	STATUTORY INFORMATION

The Ware Garages Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date and therefore the financial statements for the year ended 31st March 2025 have been prepared using the going concern basis of accounting.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is determined as the cost incurred in bringing each product to its present location and condition. Net realisable value is based on estimated selling price less further costs expected to be incurred to disposal.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

and 31st March 2025

4,169,370

NET BOOK VALUE

At 31st March 2025

4,169,370

At 31st March 2024

4,169,370

Fair value at 31st March 2025 is represented by:

£

Valuation in 2019

1,274,682

Cost

2,894,688

4,169,370

If Investment Property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

2,895,048

2,895,048

The Investment Property was valued on an Open Market basis on 31st March 2025 by the Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

2,306

1,897

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,600

3,600

Taxation and social security

3,737

17,904

Other creditors

937,411

869,035

944,748

890,539

Included within other creditors is a specific provision for redress under the Financial Conduct Authority redress consultation for Motor Finance. The figure provided for is calculated from data supplied by the F.C.A and from our own records, representing our best estimate of the potential liability at the date of signing the financial statements.

7.	ULTIMATE CONTROLLING PARTY

For the current and previous years, the company has been controlled by the board of directors as a whole, by virtue of their shareholdings in the company.