MIKE O SULLIVAN GARAGE SERVICES LTD

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

Registered number: 4568676

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	3		-		1
Tangible Assets	4		325,923		389,300

			325,923		389,301
CURRENT ASSETS
Stocks	5	8,300		38,145
Debtors	6	95,217		217,591
Cash at bank and in hand		469,828		322,576

		573,345		578,312
Creditors: Amounts Falling Due Within One Year	7	(77,618 )		(71,381 )

NET CURRENT ASSETS (LIABILITIES)			495,727		506,931

TOTAL ASSETS LESS CURRENT LIABILITIES			821,650		896,232

NET ASSETS			821,650		896,232

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			821,550		896,132

SHAREHOLDERS' FUNDS			821,650		896,232

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MIKE O SULLIVAN GARAGE SERVICES LTD

Balance Sheet (continued)

As At 31 December 2025

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

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

The directors acknowledge their 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

Mrs Julia O'Sullivan

Director

26/05/2026

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

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. 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.

1.3. 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 profit and loss account over its estimated economic life of 20 years.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. 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	Nil
Leasehold	Nil
Plant & Machinery	20% Reducing Balance
Motor Vehicles	25% on Cost

1.5. 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.

2. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 7)

3. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2025	55,593
Disposals	(55,593 )

As at 31 December 2025	-

Amortisation
As at 1 January 2025	55,592
Disposals	(55,592 )

As at 31 December 2025	-

...CONTINUED

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MIKE O SULLIVAN GARAGE SERVICES LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Net Book Value
As at 31 December 2025	-

As at 1 January 2025	1

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 January 2025	325,919	260,675	40,953	627,547
Disposals	-	(260,675 )	-	(260,675 )

As at 31 December 2025	325,919	-	40,953	366,872

Depreciation
As at 1 January 2025	-	199,549	38,698	238,247
Provided during the period	-	12,224	2,251	14,475
Disposals	-	(211,773 )	-	(211,773 )

As at 31 December 2025	-	-	40,949	40,949

Net Book Value
As at 31 December 2025	325,919	-	4	325,923

As at 1 January 2025	325,919	61,126	2,255	389,300

5. Stocks

	2025	2024
	£	£
Stock	8,300	38,145

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	43,307	8,574
Directors' Current Account	-	132,865
Other Debtors and Prepayments	4,424	28,666
Corporation tax recoverable assets	47,486	47,486

	95,217	217,591

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MIKE O SULLIVAN GARAGE SERVICES LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	37,327	21,445
Corporation tax	-	23,516
P A Y E	-	1,874
V A T	14,528	5,904
Other Creditors and Accruals	1,807	7,186
Directors' loan accounts	23,956	-
Bounce Back Loan - Current Element (Current liabilities - creditors < 1 year)	-	11,456

	77,618	71,381

8. Share Capital

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

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