Derwydd Garage Limited


Directors	Mr G G Perfect
	Mrs C A Perfect


Company Secretary	Mrs C A Perfect


Registered Address	74 High Street
	Fishguard
	SA65 9AU


Registered Number	02756427 (England and Wales)

Balance Sheet as at
31 January 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		391,448		387,813
			391,448		387,813
Current assets
Stocks	4	38,000		37,500
Debtors	5	123,795		146,709
Cash at bank and on hand		11,626		13,403
		173,421		197,612
Creditors amounts falling due within one year	6	(483,826)		(517,470)
Net current assets (liabilities)			(310,405)		(319,858)
Total assets less current liabilities			81,043		67,955
Creditors amounts falling due after one year	7		(26,536)		(31,439)
Net assets			54,507		36,516
Capital and reserves
Called up share capital			50,000		50,000
Profit and loss account			4,507		(13,484)
Shareholders' funds			54,507		36,516

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 Directors acknowledge 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 23 August 2026, and are signed on its behalf by:

Mr G G Perfect
Director
Registered Company No. 02756427

Derwydd Garage Limited

Notes to the Financial Statements
for the year ended 31 January 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.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	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 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 sale of goods and from the rendering of services.

	Revenue from sale of goods
	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.

Revenue from sale of goods

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.

	Revenue from rendering of services
	Revenue 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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets except land and buildings as follows:


		Straight line (years)
	Plant and machinery	5
	Fixtures and fittings	4
	Office Equipment	3

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other 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.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	3		4

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 February 25	553,819
	Additions	36,434
	Disposals	(15,916)
	At 31 January 26	574,338
	Depreciation and impairment
	At 01 February 25	166,006
	Charge for year	20,738
	On disposals	(3,855)
	At 31 January 26	182,890
	Net book value
	At 31 January 26	391,448
	At 31 January 25	387,813

4.	Stocks

	2026	2025
	£	£
Raw materials and consumables	38,000	37,500
Total	38,000	37,500

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	20,541	24,311
Amounts owed by group undertakings	94,207	91,323
Other debtors	1,439	24,000
Prepayments and accrued income	7,608	7,075
Total	123,795	146,709

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	14,183	17,486
Bank borrowings and overdrafts	4,904	4,690
Amounts owed to related parties	205,276	229,276
Taxation and social security	14,268	20,783
Other creditors	245,195	245,235
Total	483,826	517,470


	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

	2026	2025
	£	£
Bank borrowings and overdrafts	26,536	31,439
Total	26,536	31,439

8.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
Mr G G Perfect	(9,202)	62,589	51,950	1,437
	(9,202)	62,589	51,950	1,437

9.	Related party transactions
	Derwydd Garage Limited is a related party of Tynewydd Developments Limited and Cloverton Properties (Cilgerran) Limited by virtue of the common control of the parent company Good Stewards Limited. At the balance sheet date £94,206 (2025 - £91,322) was due from Cloverton Properties (Cilgerran) Limited; £154,503 (2025 - £178,503) was due to Tynewydd Developments Limited and £50,773 (2025 - £50,773) to Good Stewards Limited.

Related party transactions

Derwydd Garage Limited is a related party of Tynewydd Developments Limited and Cloverton Properties (Cilgerran) Limited by virtue of the common control of the parent company Good Stewards Limited.  At the balance sheet date £94,206 (2025 - £91,322) was due from Cloverton Properties (Cilgerran) Limited;  £154,503 (2025 - £178,503) was due to Tynewydd Developments Limited and £50,773 (2025 - £50,773) to Good Stewards Limited.