| Loveridge's Garage Limited |
| Registered Number:09792419 |
For the year ended 31 March 2025
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2025
Loveridge's Garage Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Loveridge's Garage Limited
Statement of Financial Position
2024
2025
| Property, plant and equipment |
104,684
91,375
3
104,684
91,375
4,000
4,000
4
| Trade and other receivables |
14,951
13,300
5
74,049
| Cash and cash equivalents |
77,889
95,189
93,000
| Trade and other payables: amounts falling due within one year |
(45,609)
(41,908)
6
47,391
53,281
Net current assets
| Total assets less current liabilities |
157,965
138,766
157,965
Net assets
138,766
10
10
157,955
138,756
157,965
138,766
Shareholders' funds
| For the year ended 31 March 2025 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| Mr Stephen Paul Loveridge Director |
| These financial statements were approved and authorised for issue by the Board on 03 December 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 March 2025
Loveridge's Garage Limited
Notes to the Financial Statements
Statutory Information
| Loveridge's Garage Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
| number 09792419. |
157 High Street
Cinderford
Gloucestershire
GL14 2TF
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting |
| Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. |
| The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain |
| assets. |
Revenue recognition
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Goodwill
| Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of 5 years. |
Property, plant and equipment
| Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Land and Buildings
Plant and Machinery
Computer Equipment
Motor Vehicles
Inventories
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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For the year ended 31 March 2025
Loveridge's Garage Limited
Notes to the Financial Statements Continued
| 2. Intangible fixed assets |
Goodwill
29,250
29,250
29,250
29,250
-
-
| 3. Property, plant and equipment |
Motor Vehicles
202,945
5,271
26,013
81,661
90,000
30,610
408
-
30,202
-
111,863
26,013
5,679
233,555
90,000
| Provision for depreciation and impairment |
111,570
5,091
20,354
63,625
22,500
Charge for year
17,301
226
1,415
12,060
3,600
128,871
5,317
21,769
75,685
26,100
63,900
36,178
4,244
362
104,684
67,500
18,036
5,659
180
91,375
2024
2025
4,000
4,000
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For the year ended 31 March 2025
Loveridge's Garage Limited
Notes to the Financial Statements Continued
| 5. Trade and other receivables |
2024
2025
50
1,811
13,250
13,140
14,951
13,300
| 6. Trade and other payables: amounts falling due within one year |
2024
2025
15,784
14,197
| Taxation and social security |
25,876
30,801
248
611
41,908
45,609
| 7. Directors advances and guarantees |
Loaned
Repaid
Mr Stephen Paul Loveridge
Director loan
12,278
12,375
12,347
12,444
12,278
12,375
12,347
12,444
| 8. Average number of persons employed |
During the year the average number of employees was 4.
| The principal accounting polices applied in the preparation of the financial statements are set out above. These policies have |
| been consistently applied to all the years presented, unless otherwise stated. No changes have arisen as a result of the |
| transition to Section 1A of Financial Reporting Standard 102. |
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