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Company Registration No. 05825938 (England and Wales)
Future Garage Equipment Services Ltd Unaudited accounts for the year ended 31 March 2026
Future Garage Equipment Services Ltd Unaudited accounts Contents
Page
Statement of financial position
3
Notes to the accounts
4
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Future Garage Equipment Services Ltd Statement of financial position as at 31 March 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
131
748
Investments
5
5,355
5,355
5,486
6,103
Current assets
Inventories
600
600
Debtors
6
23,653
19,228
Cash at bank and in hand
11,988
16,076
36,241
35,904
Creditors: amounts falling due within one year
7
(45,555)
(41,190)
Net current liabilities
(9,314)
(5,286)
Total assets less current liabilities
(3,828)
817
Creditors: amounts falling due after more than one year
8
-
(4,892)
Provisions for liabilities
Deferred tax
(33)
(165)
Net liabilities
(3,861)
(4,240)
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
(3,961)
(4,340)
Shareholders' funds
(3,861)
(4,240)
For the year ending 31 March 2026 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 July 2026 and were signed on its behalf by
M Torr Director Company Registration No. 05825938
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Future Garage Equipment Services Ltd Notes to the Accounts for the year ended 31 March 2026
1
Statutory information
Future Garage Equipment Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 05825938. The registered office is 32 TEES ROAD, CHELMSFORD, CM1 7QH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
33% straight line
Stocks
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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Future Garage Equipment Services Ltd Notes to the Accounts for the year ended 31 March 2026
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2025
2,165
3,424
5,589
At 31 March 2026
2,165
3,424
5,589
Depreciation
At 1 April 2025
2,165
2,676
4,841
Charge for the year
-
617
617
At 31 March 2026
2,165
3,293
5,458
Net book value
At 31 March 2026
-
131
131
At 31 March 2025
-
748
748
5
Investments
Other investments
£
Valuation at 1 April 2025
5,355
Valuation at 31 March 2026
5,355
6
Debtors
2026
2025
£
£
Amounts falling due within one year
Trade debtors
20,961
17,430
Accrued income and prepayments
895
1
Other debtors
1,797
1,797
23,653
19,228
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
3,942
8,510
Trade creditors
6,589
6,077
Taxes and social security
19,247
13,351
Loans from directors
11,888
10,150
Accruals
953
852
Deferred income
2,936
2,250
45,555
41,190
8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans
-
4,892
- 5 -
Future Garage Equipment Services Ltd Notes to the Accounts for the year ended 31 March 2026
9
Share capital
2026
2025
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 4 (2025: 4).
- 6 -