REGISTERED NUMBER: 11854791 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

MEAD GARAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I A Norris

Mr J R P Parker

REGISTERED OFFICE:

Mead Garage

Alston Cross

Ashburton

Devon

TQ13 7LJ

REGISTERED NUMBER:

11854791 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

FIXED ASSETS

Tangible assets

4

20,062

24,845

CURRENT ASSETS

Stocks

5

2,500

2,000

Debtors

6

290

44,187

Cash at bank and in hand

283,358

215,290

286,148

261,477

CREDITORS

Amounts falling due within one year

7

65,314

84,404

NET CURRENT ASSETS

220,834

177,073

TOTAL ASSETS LESS CURRENT LIABILITIES

240,896

201,918

PROVISIONS FOR LIABILITIES

3,291

5,742

NET ASSETS

237,605

196,176

CAPITAL AND RESERVES

Called up share capital

50

2

Retained earnings

237,555

196,174

SHAREHOLDERS' FUNDS

237,605

196,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2026 and were signed on its behalf by:

Mr I A Norris - Director

Mr J R P Parker - Director

1.	STATUTORY INFORMATION

Mead 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.

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.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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 2 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2025

27,953

16,815

1,188

45,956

Additions

3,601

-

202

3,803

Disposals

-

(11,615

)

-

(11,615

)

At 31 March 2026

31,554

5,200

1,390

38,144

DEPRECIATION

At 1 April 2025

10,888

9,926

297

21,111

Charge for year

4,133

927

347

5,407

Eliminated on disposal

-

(8,436

)

-

(8,436

)

At 31 March 2026

15,021

2,417

644

18,082

NET BOOK VALUE

At 31 March 2026

16,533

2,783

746

20,062

At 31 March 2025

17,065

6,889

891

24,845

5.

STOCKS

2026

2025

£

£

Stocks

2,500

2,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

243

1,274

Directors' current accounts

-

42,866

Prepayments

47

47

290

44,187

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

11,767

20,199

Tax

33,528

42,125

Social security and other taxes

909

4,193

VAT

8,956

8,392

Directors' current accounts

321

-

Accrued expenses

9,833

9,495

65,314

84,404

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

£

Mr I A Norris

Balance outstanding at start of year

27,050

26,900

Amounts advanced

22,415

46,220

Amounts repaid

(49,570

)

(46,070

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(105

)

27,050

Mr J R P Parker

Balance outstanding at start of year

15,816

26,184

Amounts advanced

21,025

49,202

Amounts repaid

(37,057

)

(59,570

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(216

)

15,816

Loans are unsecured, interest free and repayable on demand.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £61,000 (2025 - £80,500) were paid to the directors .