Navigation Garage (Heanor) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01824634 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Navigation Garage (Heanor) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K S Atwal

L S Atwal

REGISTERED OFFICE:

The Hill House

Sinfin Lane

Barrow on Trent

Derby

DE73 7HH

REGISTERED NUMBER:

01824634 (England and Wales)

ACCOUNTANTS:

Bourne & Co.

Chartered Accountants

47a Queen Street

Derby

Derbyshire

DE1 3DE

FIXED ASSETS

Tangible assets

4

1,022,604

1,031,738

Investment property

5

525,000

1,547,604

1,556,738

CURRENT ASSETS

Debtors

1,320,913

1,577,069

Cash at bank

106,014

104,917

1,426,927

1,681,986

CREDITORS

Amounts falling due within one year

420,650

535,277

NET CURRENT ASSETS

1,006,277

1,146,709

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,553,881

2,703,447

CREDITORS

Amounts falling due after more than one
year

-

(193,766

)

PROVISIONS FOR LIABILITIES

(3,965

)

(4,976

)

NET ASSETS

2,549,916

2,504,705

CAPITAL AND RESERVES

Called up share capital

7

92,817

Fair value reserve

8

357,790

Retained earnings

2,099,309

2,054,098

SHAREHOLDERS' FUNDS

2,549,916

2,504,705

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

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 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 December 2025 and were signed on its behalf by:

K S Atwal - Director

1.	STATUTORY INFORMATION

Navigation Garage (Heanor) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of services and goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Freehold trade property

-

1% on cost

Equipment

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

Investment property

The investment property is shown separately from the trading property and is included in the financial statements at open market value. No depreciation has been provided on the investment property in accordance with the Financial Reporting Standard 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

1,608,249

Additions

8,982

At 31 March 2025

1,617,231

DEPRECIATION

At 1 April 2024

576,511

Charge for year

18,116

At 31 March 2025

594,627

NET BOOK VALUE

At 31 March 2025

1,022,604

At 31 March 2024

1,031,738

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

525,000

NET BOOK VALUE

At 31 March 2025

525,000

At 31 March 2024

525,000

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

-

257,084

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

92,817

Ordinary

£1

92,817

8.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

357,790