The Garage Car Sales (Sheffield) Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 09808715

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		8,800		11,000
Tangible Assets	5		327,920		339,733

			336,720		350,733
CURRENT ASSETS
Stocks	6	47,920		175,925
Debtors	7	35,996		16,548
Cash at bank and in hand		17,645		64,508

		101,561		256,981
Creditors: Amounts Falling Due Within One Year	8	(512,595 )		(626,226 )

NET CURRENT ASSETS (LIABILITIES)			(411,034 )		(369,245 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(74,314 )		(18,512 )

Creditors: Amounts Falling Due After More Than One Year	9		(193,496 )		(288,790 )

NET LIABILITIES			(267,810 )		(307,302 )

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			(267,910 )		(307,402 )

SHAREHOLDERS' FUNDS			(267,810)		(307,302)

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The Garage Car Sales (Sheffield) Ltd

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

S P Tandy

Director

14/11/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

The Garage Car Sales (Sheffield) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09808715 . The registered office is 3 Sheaf Gardens, Sheffield, S2 4BS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% straight line
Plant & Machinery	10% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

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The Garage Car Sales (Sheffield) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	22,000

As at 31 March 2025	22,000

Amortisation
As at 1 April 2024	11,000
Provided during the period	2,200

As at 31 March 2025	13,200

Net Book Value
As at 31 March 2025	8,800

As at 1 April 2024	11,000

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 April 2024	245,496	118,552	34,335	52,459	450,842
Additions	-	11,412	-	-	11,412

As at 31 March 2025	245,496	129,964	34,335	52,459	462,254

Depreciation
As at 1 April 2024	24,310	35,471	15,456	35,872	111,109
Provided during the period	4,910	9,449	4,719	4,147	23,225

As at 31 March 2025	29,220	44,920	20,175	40,019	134,334

Net Book Value
As at 31 March 2025	216,276	85,044	14,160	12,440	327,920

As at 1 April 2024	221,186	83,081	18,879	16,587	339,733

6. Stocks

	2025	2024
	£	£
Stock	47,920	175,925

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	19,679	615
Other debtors	15,933	15,933
Other taxes and social security	384	-

	35,996	16,548

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The Garage Car Sales (Sheffield) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	7,631	7,631
Trade creditors	71,709	181,541
Bank loans and overdrafts	273,653	266,154
Other taxes and social security	-	2,282
VAT	8,669	27,703
Other creditors	33,244	671
Accruals and deferred income	2,000	1,550
Director's loan account	29,804	28,194
Amounts owed to related parties	85,885	110,500

	512,595	626,226

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	38,227	42,043
Bank loans	78,296	104,835
Other loans	76,973	141,912

	193,496	288,790

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	7,631	7,631
Later than one year and not later than five years	38,227	42,043

	45,858	49,674

	45,858	49,674

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

12. Related Party Transactions

Included in other creditors is an amount of £85,885.48 (2024:£110,500) due to SPT Consulting (UK) Limited, a

company that shares common control with The Garage Car Sales (Sheffield) Ltd.

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