GOTTS GARAGE (BARNOLDSWICK) LIMITED


Director	MARSDEN, Julie Ann Mcintosh Fraser


Registered Address	Gotts Garage Gisburn Road
	Barnoldswick
	Colne
	BB18 5NQ


Registered Number	01278322 (England and Wales)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		-		296,000
Investment property	4		300,000		-
			300,000		296,000
Current assets
Debtors	5	633		278
Cash at bank and on hand		374,725		577,414
		375,358		577,692
Creditors amounts falling due within one year	6	(3,509)		(132,012)
Net current assets (liabilities)			371,849		445,680
Total assets less current liabilities			671,849		741,680
Provisions for liabilities	8		(74,000)		(74,000)
Net assets			597,849		667,680
Capital and reserves
Called up share capital			8,301		8,301
Revaluation reserve			223,737		219,737
Profit and loss account			365,811		439,642
Shareholders' funds			597,849		667,680

The company was entitled to exemption from audit for this reporting period 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 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 5 August 2026, and are signed on its behalf by:

MARSDEN, Julie Ann Mcintosh Fraser
Director
Registered Company No. 01278322

GOTTS GARAGE (BARNOLDSWICK) LIMITED

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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 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 policy

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 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.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	25

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are 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 the Income Statement.

	Finance leases and hire purchase contracts
	Operating leases: the Company as a lessor Rental income from operating leases is credited to profit or loss on a straight line basis over the lease term. Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

Finance leases and hire purchase contracts

Operating leases: the Company as a lessor
Rental income from operating leases is credited to profit or loss on a straight line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	1		4

3.	Tangible fixed assets

	Land & buildings	Total
	£	£
Cost or valuation
At 01 April 25	300,000	300,000
Transfers	(300,000)	(300,000)
Depreciation and impairment
At 01 April 25	4,000	4,000
Other adjustments	(4,000)	(4,000)
Net book value
At 31 March 26	-	-
At 31 March 25	296,000	296,000

4.	Investment property
	The investment property (previously land and buildings) was revalued at 31 March 2025 at £300,000 by the director. During the year ended 31 March 2026 the land and buildings have been reclassified as an Investment Property. In the director's opinion the value remains unchanged at the period end date. Had the investment property been included at it's historical cost, the amount would have been £48,583 (2025 - £48,583).

Investment property

The investment property (previously land and buildings) was revalued at 31 March 2025 at £300,000 by the director. During the year ended 31 March 2026 the land and buildings have been reclassified as an Investment Property. In the director's opinion the value remains unchanged at the period end date. Had the investment property been included at it's historical cost, the amount would have been £48,583 (2025 - £48,583).


		£
	Additions	300,000
	At 31 March 26	300,000

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Other debtors	179	-
Prepayments and accrued income	454	278
Total	633	278


	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.

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.

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Taxation and social security	-	127,172
Other creditors	-	1,423
Accrued liabilities and deferred income	3,509	3,417
Total	3,509	132,012


	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.

7.	Creditors: amounts due after one year

8.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	74,000	74,000
Total	74,000	74,000

9.	Related party transactions
	On 1 April 2025 the company owed the Director £1,423, which is included in other creditors. At 31 March 2026 the Director owed the company £47, which is included in other debtors. No interest was charged on this loan and the loan is repayable on demand.