Company registration number 03194389 (England and Wales)
FOURWAYS GARAGE (CHALFORD) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
FOURWAYS GARAGE (CHALFORD) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
FOURWAYS GARAGE (CHALFORD) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
115,853
95,048
Current assets
Stocks
63,341
75,821
Debtors
4
21,815
25,946
Cash at bank and in hand
106,187
110,146
191,343
211,913
Creditors: amounts falling due within one year
5
(197,552)
(199,827)
Net current (liabilities)/assets
(6,209)
12,086
Total assets less current liabilities
109,644
107,134
Creditors: amounts falling due after more than one year
6
(834)
(10,833)
Provisions for liabilities
(8,022)
(3,914)
Net assets
100,788
92,387
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
100,778
92,377
Total equity
100,788
92,387
FOURWAYS GARAGE (CHALFORD) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

For the financial Year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the Year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 11 November 2025
Mr J J Webb
Director
Company registration number 03194389 (England and Wales)
FOURWAYS GARAGE (CHALFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Fourways Garage (Chalford) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fourways Garage, Middle Hill, Chalford Hill, Stroud, Gloucestershire, GL6 8BD.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No Depreciation
Plant and equipment
15% on reducing balance
Computers
15% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

An assessment of the net realisable value of the freehold property at historic cost has been undertaken. On the basis that the property is well maintained and repair costs are charged to the profit and loss account, it is the view of the directors that the net realisable value at historic cost equates to cost. Depreciation is charged on freehold property (excluding land) on the cost less the estimated residual value over 50 years. On the basis of the above no charge is deemed necessary. A impairment review is carried out on a annual basis to assess whether the market value of the property is at least as much as the carrying value in the accounts. Provision is made for any perm a n e nt fall in value.

FOURWAYS GARAGE (CHALFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor
FOURWAYS GARAGE (CHALFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Year was:

2025
2024
Number
Number
Total
11
11
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2024
60,656
188,256
248,912
Additions
-
0
27,834
27,834
At 30 April 2025
60,656
216,090
276,746
Depreciation and impairment
At 1 May 2024
-
0
153,864
153,864
Depreciation charged in the Year
-
0
7,029
7,029
At 30 April 2025
-
0
160,893
160,893
Carrying amount
At 30 April 2025
60,656
55,197
115,853
At 30 April 2024
60,656
34,392
95,048
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
10,502
13,664
Other debtors
11,313
12,282
21,815
25,946
FOURWAYS GARAGE (CHALFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
79,667
73,098
Taxation and social security
31,440
23,240
Other creditors
76,445
93,489
197,552
199,827
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
834
10,833
7
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
4,486
9,077
8
Contingent liabilities

During the previous year (2024) a loan of £19,000 was written off by a supplier on condition that a new 5 year contract was signed with them. In the event that the company does not complete the contract period, it would be required to reinstate a proportion of the loan based on the time remaining of the 5 year period.

9
Related party transactions

During the year the company operated from premises owned by Fourways Garage (Chalford) Limited Retirement Benefit Scheme. Rent of £30,000 was paid to the scheme during the year (202 4 - £46,168).

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