REGISTERED NUMBER: 05802897 (England and Wales)

Financial Statements for the Year Ended 31 May 2025

for

J & G Vehicle Repairs Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W J Waters

Mrs V M Waters

Miss Z Waters

Miss H Waters

SECRETARY:

Mrs V M Waters

REGISTERED OFFICE:

Stephens Way

Warminster Business Park

Bath Road

Warminster

Wiltshire

BA12 8SR

REGISTERED NUMBER:

05802897 (England and Wales)

ACCOUNTANTS:

A J Shone & Co Limited

Chartered Accountants

Ashley House

Unit 3, Brickfields Business Park

Gillingham

Dorset

SP8 4PX

FIXED ASSETS

Tangible assets

4

34,579

40,702

CURRENT ASSETS

Stocks

23,600

25,300

Debtors

5

31,719

27,480

Cash at bank

93,706

82,158

149,025

134,938

CREDITORS

Amounts falling due within one year

6

67,242

69,353

NET CURRENT ASSETS

81,783

65,585

TOTAL ASSETS LESS CURRENT LIABILITIES

116,362

106,287

PROVISIONS FOR LIABILITIES

2,660

4,140

NET ASSETS

113,702

102,147

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

113,602

102,047

SHAREHOLDERS' FUNDS

113,702

102,147

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

Mrs V M Waters - Director

1.	STATUTORY INFORMATION

J & G Vehicle Repairs 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually when vehicles or parts have been supplied or when a service has been completed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell and the impairment loss is recognised immediately in the profit and loss account.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets are classified as receivable within one year and not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised costs, using the effective rate of interest method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment due is within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially ar transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 June 2024

30,834

87,454

9,834

Additions

-

501

-

Disposals

-

-

-

At 31 May 2025

30,834

87,955

9,834

DEPRECIATION

At 1 June 2024

22,013

69,346

8,687

Charge for year

2,416

2,791

172

Eliminated on disposal

-

-

-

At 31 May 2025

24,429

72,137

8,859

NET BOOK VALUE

At 31 May 2025

6,405

15,818

975

At 31 May 2024

8,821

18,108

1,147

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2024

35,361

38,871

202,354

Additions

3,500

-

4,001

Disposals

(12,850

)

-

(12,850

)

At 31 May 2025

26,011

38,871

193,505

DEPRECIATION

At 1 June 2024

24,759

36,847

161,652

Charge for year

3,342

668

9,389

Eliminated on disposal

(12,115

)

-

(12,115

)

At 31 May 2025

15,986

37,515

158,926

NET BOOK VALUE

At 31 May 2025

10,025

1,356

34,579

At 31 May 2024

10,602

2,024

40,702

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

27,449

23,210

Other debtors

4,270

4,270

31,719

27,480

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

35,090

39,916

Taxation and social security

24,046

23,230

Other creditors

8,106

6,207

67,242

69,353