REGISTERED NUMBER: 05369386 (England and Wales)

Buckworth's Garage Limited

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

L C Buckworth

H A Buckworth

A P Dickson

J S Dickson

Registered office:

Beccles Road

St Olaves

Great Yarmouth

Norfolk

NR31 9HD

Registered number:

05369386 (England and Wales)

Accountants:

Fairhead Bradford

5 Queen Street

Great Yarmouth

Norfolk

NR30 2QP

Fixed assets

Tangible assets

4

264,005

271,080

Investments

5

6,600

6,600

270,605

277,680

Current assets

Stocks

51,850

60,178

Debtors

6

4,102

18,129

Cash at bank and in hand

22,248

41,025

78,200

119,332

Creditors

Amounts falling due within one year

7

128,069

137,235

Net current liabilities

(49,869

)

(17,903

)

Total assets less current liabilities

220,736

259,777

Creditors

Amounts falling due after more than one year

8

(214,835

)

(254,472

)

Provisions for liabilities

(3,950

)

(3,745

)

Net assets

1,951

1,560

Capital and reserves

Called up share capital

200

200

Retained earnings

1,751

1,360

1,951

1,560

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.

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 19 December 2025 and were signed on its behalf by:

L C Buckworth - Director

1.	Statutory information

Buckworth's Garage 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.

Preparation of consolidated financial statements

The financial statements contain information about Buckworth's Garage Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 6 (2024 - 7 ) .

4.	Tangible fixed assets

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

352,220

47,393

29,548

4,086

433,247

Additions

-

248

18,000

-

18,248

Disposals

-

-

(18,255

)

-

(18,255

)

At 31 March 2025

352,220

47,641

29,293

4,086

433,240

Depreciation

At 1 April 2024

112,710

36,155

10,335

2,967

162,167

Charge for year

7,044

2,414

3,922

224

13,604

Eliminated on disposal

-

-

(6,536

)

-

(6,536

)

At 31 March 2025

119,754

38,569

7,721

3,191

169,235

Net book value

At 31 March 2025

232,466

9,072

21,572

895

264,005

At 31 March 2024

239,510

11,238

19,213

1,119

271,080

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

Cost

At 1 April 2024

9,310

Additions

18,000

Transfer to ownership

(9,310

)

At 31 March 2025

18,000

Depreciation

At 1 April 2024

1,862

Charge for year

1,570

Transfer to ownership

(2,232

)

At 31 March 2025

1,200

Net book value

At 31 March 2025

16,800

At 31 March 2024

7,448

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 April 2024

and 31 March 2025

6,600

Net book value

At 31 March 2025

6,600

At 31 March 2024

6,600

6.

Debtors: amounts falling due within one year

31/3/25

31/3/24

£

£

Trade debtors

2,969

16,884

Other debtors

1,133

1,245

4,102

18,129

7.

Creditors: amounts falling due within one year

31/3/25

31/3/24

£

£

Bank loans and overdrafts

28,000

28,000

Hire purchase contracts

3,240

1,800

Trade creditors

34,476

56,533

Taxation and social security

14,782

13,616

Other creditors

47,571

37,286

128,069

137,235

8.

Creditors: amounts falling due after more than one year

31/3/25

31/3/24

£

£

Bank loans

116,355

147,172

Hire purchase contracts

11,880

5,700

Amounts owed to group undertakings

6,600

6,600

Other creditors

80,000

95,000

214,835

254,472

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

32,688

53,505