North Country Garage Ltd - Filleted accounts

Registered number

07237748

North Country Garage Ltd

Filleted Accounts

31 August 2025

North Country Garage Ltd
Registered number:		07237748
Balance Sheet
as at 31 August 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		43,015			51,629

Current assets
Stocks		8,348			11,654
Debtors	5	86,721			75,035
Cash at bank and in hand		70,667			30,050
		165,736			116,739

Creditors: amounts falling due within one year	6	(137,354)			(84,301)

Net current assets			28,382			32,438

Total assets less current liabilities			71,397			84,067

Creditors: amounts falling due after more than one year	7		(30,070)			(33,052)

Provisions for liabilities			(5,882)			(8,300)


Net assets			35,445			42,715

Capital and reserves
Called up share capital			150			150
Profit and loss account			35,295			42,565

Shareholders' funds			35,445			42,715

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Karen Gallagher
Director
Approved by the board on 28 May 2026

North Country Garage Ltd
Notes to the Accounts
for the year ended 31 August 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor Vehicles	25%		Reducing balance
	Plant and machinery	25%		Reducing balance
	Fixtures, fittings, tools and equipment	25%		Reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			10		7


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 September 2024					9,986
	At 31 August 2025					9,986

	Amortisation
	At 1 September 2024					9,986
	At 31 August 2025					9,986

	Net book value
	At 31 August 2025					-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 September 2024	156,757		14,354		171,111
	Additions	823		4,900		5,723
	At 31 August 2025	157,580		19,254		176,834

	Depreciation
	At 1 September 2024	108,466		11,016		119,482
	Charge for the year	12,278		2,059		14,337
	At 31 August 2025	120,744		13,075		133,819

	Net book value
	At 31 August 2025	36,836		6,179		43,015
	At 31 August 2024	48,291		3,338		51,629


5	Debtors			2025		2024
£					£

	Trade debtors			44,711		29,657
	Other debtors			42,010		45,378
				86,721		75,035


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			3,080		2,830
	Trade creditors			50,409		23,838
	Taxation and social security costs			21,143		17,113
	Other creditors			62,722		40,520
				137,354		84,301


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			30,070		33,052


8	Related party transactions

	At the period end the company owed £49,592 (2024: £30,255) to Mr & Mrs Gallagher, directors and £3,450 (2024: £1,950) to Miss M Gallagher, shareholder. The Loans are interest free and repayable on demand.


9	Controlling party

	The company is ultimately controlled by Mr & Mrs Gallagher, directors, who own 67% of the issued ordinary share capital.


10	Other information

	North Country Garage Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	North Country Garage
	North Country
	Redruth
	Cornwall
	TR16 4AA