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Registered number: 14371384
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Tom's Car Barn Limited
Financial statements
Information for filing with the registrar
30 September 2025
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Balance sheet
At 30 September 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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1
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Balance sheet (continued)
At 30 September 2025
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 June 2026.
Company registered number: 14371384
The notes on pages 3 to 5 form part of these financial statements.
2
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Notes to the financial statements
Year ended 30 September 2025
Tom's Car Barn Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England and Wales. The address of the registered office is Durham Road Farm, Durham Road, Bishop Auckland DL13 3JB.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdon and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The director believes the company will be able to continue to trade for the next 12 months with his continued support, therefore he considers it appropriate to prepare the accounts on a going concern basis.
Turnover shown in the profit and loss account represents rental income invoiced applicable to the period, exclusive of Value Added Tax.
It also represents the fair value of the consideration receivable for hire services rendered, stated net of discounts and of Value Added Tax.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below.
Depreciation is provided on the following basis:
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Lettings fixtures and fittings
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
3
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Notes to the financial statements
Year ended 30 September 2025
2.Accounting policies (continued)
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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Lettings fixtures and fittings
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4
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Notes to the financial statements
Year ended 30 September 2025
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Freehold investment property
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The investment property is held for rental yield and capital appreciation. The investment property is initially recognised at cost and is subsequently held at fair value based on the valuation provided by the director at the end of each reporting year.
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Accruals and deferred income
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Related party transactions
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During the year, the company used a loan account to record amounts due to and from its director. At the year end, the balance due to the director was £3,244,259 (2024 : £3,125,539). The loans are unsecured, interest free and repayable on demand.
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5
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6
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