REGISTERED NUMBER: 10305182 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

EASY GARAGE SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A G Phelps

REGISTERED OFFICE:

Chepstow Business Park

Bulwark Road

Bulwark

Chepstow

Monmouthshire

NP16 5JG

REGISTERED NUMBER:

10305182 (England and Wales)

ACCOUNTANTS:

Gravita

Chartered Accountants

Kestrel Court

Harbour Road

Portishead

Bristol

BS20 7AN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

82,710

80,260

82,710

80,260

CURRENT ASSETS

Stocks

23,802

23,563

Debtors

6

77,920

75,989

Cash at bank and in hand

28,809

43,203

130,531

142,755

CREDITORS

Amounts falling due within one year

7

(171,375

)

(196,154

)

NET CURRENT LIABILITIES

(40,844

)

(53,399

)

TOTAL ASSETS LESS CURRENT LIABILITIES

41,866

26,861

CREDITORS

Amounts falling due after more than one year

8

(14,528

)

(1,843

)

PROVISIONS FOR LIABILITIES

(20,677

)

(20,065

)

NET ASSETS

6,661

4,953

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,561

4,853

6,661

4,953

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 director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2026 and were signed by:

A G Phelps - Director

1.	COMPANY INFORMATION

Easy Garage Services 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 company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The director has reviewed and considered relevant information including annual budgets and future cash-flows in making their assessment.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Improvements to property

-

25% on reducing balance and 10% on cost

Plant and machinery

-

25% on reducing balance and 10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 when the company becomes party to the contractual provisions 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, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors 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 payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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

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 12 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

50,741

AMORTISATION

At 1 April 2024

and 31 March 2025

50,741

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

82,993

58,577

63,490

7,404

212,464

Additions

-

-

43,186

-

43,186

Disposals

-

-

(51,490

)

-

(51,490

)

At 31 March 2025

82,993

58,577

55,186

7,404

204,160

DEPRECIATION

At 1 April 2024

45,186

36,382

45,913

4,723

132,204

Charge for year

8,173

5,505

11,627

1,176

26,481

Eliminated on disposal

-

-

(37,235

)

-

(37,235

)

At 31 March 2025

53,359

41,887

20,305

5,899

121,450

NET BOOK VALUE

At 31 March 2025

29,634

16,690

34,881

1,505

82,710

At 31 March 2024

37,807

22,195

17,577

2,681

80,260

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

Motor

vehicles

£

COST

At 1 April 2024

51,490

Additions

43,186

Disposals

(51,490

)

At 31 March 2025

43,186

DEPRECIATION

At 1 April 2024

37,235

Charge for year

10,796

Eliminated on disposal

(37,235

)

At 31 March 2025

10,796

NET BOOK VALUE

At 31 March 2025

32,390

At 31 March 2024

14,255

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

40,818

63,708

Other debtors

2,650

2,650

Directors' current accounts

24,762

-

Prepayments

9,690

9,631

77,920

75,989

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

1,389

Hire purchase contracts (see note 9)

6,596

7,856

Trade creditors

45,210

54,694

Tax

58,504

68,350

Social security and other taxes

18,245

25,698

Pension control

4,578

2,744

VAT

31,109

22,333

Other creditors

3,440

10,051

Net Wages

643

-

Directors' current accounts

-

44

Accrued expenses

3,050

2,995

171,375

196,154

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

14,528

-

Other creditors

-

1,843

14,528

1,843

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

6,596

7,856

Between one and five years

14,528

-

21,124

7,856

Non-cancellable

operating leases

2025

2024

£

£

Within one year

79,412

72,212

Between one and five years

4,104

12,311

83,516

84,523

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2025 and the period ended 31 March 2024:

2025

2024

£

£

A G Phelps

Balance outstanding at start of year

-

-

Amounts advanced

24,762

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

24,762

-