Solent Garage Services (Stubbington) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10784641

Solent Garage Services (Stubbington) Limited

Filleted Unaudited Financial Statements

28 May 2025

Solent Garage Services (Stubbington) Limited

Statement of Financial Position

28 May 2025

	28 May 25		29 May 24
Note	£	£	£

Fixed assets

Tangible assets	6		28,317	13,508

Current assets

Stocks		500	2,200
Debtors	7	141,231	107,199
Cash at bank and in hand		82,571	54,471
		---------	---------
		224,302	163,870

Creditors: amounts falling due within one year	8	152,573		113,064
		---------		---------
Net current assets			71,729	50,806
			---------	--------
Total assets less current liabilities			100,046	64,314

Creditors: amounts falling due after more than one year	9	4,198	5,247
		---------	--------
Net assets		95,848	59,067
		---------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	95,748	58,967
	--------	--------
Shareholders funds	95,848	59,067
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 28 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Solent Garage Services (Stubbington) Limited

Statement of Financial Position (continued)

28 May 2025

These financial statements were approved by the board of directors and authorised for issue on 25 August 2026 , and are signed on behalf of the board by:

P Clarke Esq
Director

Company registration number: 10784641

Solent Garage Services (Stubbington) Limited

Notes to the Financial Statements

Period from 30 May 2024 to 28 May 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

No significant judgements have been made by the directors in preparing these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Fixtures, fittings and equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

4. Staff

The average number of persons employed by the company during the period amounted to 6 (2024: 4 ).

5. Tax on profit

Major components of tax expense

	Period from	Period from
	30 May 24 to	1 Jun 23 to
	28 May 25	29 May 24
	£	£

Current tax:

UK current tax expense	6,146	3,130
Adjustments in respect of prior periods	–	3,922
	-------	-------
Total current tax	6,146	7,052
	-------	-------
	-------	-------
Tax on profit	6,146	7,052
	-------	-------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 30 May 2024	23,485	–	4,130	12,018	39,633
Additions	4,209	4,201	11,250	4,588	24,248
	--------	-------	--------	--------	--------
At 28 May 2025	27,694	4,201	15,380	16,606	63,881
	--------	-------	--------	--------	--------
Depreciation
At 30 May 2024	16,553	–	3,034	6,538	26,125
Charge for the period	2,786	–	3,086	3,567	9,439
	--------	-------	--------	--------	--------
At 28 May 2025	19,339	–	6,120	10,105	35,564
	--------	-------	--------	--------	--------
Carrying amount
At 28 May 2025	8,355	4,201	9,260	6,501	28,317
	--------	-------	--------	--------	--------
At 29 May 2024	6,932	–	1,096	5,480	13,508
	--------	-------	--------	--------	--------

7. Debtors

	28 May 25	29 May 24
	£	£
Other debtors	141,231	107,199
	---------	---------

8. Creditors: amounts falling due within one year

	28 May 25	29 May 24
	£	£
Bank loans and overdrafts	1,050	1,050
Trade creditors	17,483	22,229
Corporation tax	52,763	34,146
Social security and other taxes	48,470	26,247
Other creditors	32,807	29,392
	---------	---------
	152,573	113,064
	---------	---------

9. Creditors: amounts falling due after more than one year

	28 May 25	29 May 24
	£	£
Bank loans and overdrafts	4,198	5,247
	-------	-------

10. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	28 May 25
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
P Clarke Esq	59,670	24,237	83,907
	--------	--------	--------

	29 May 24
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
P Clarke Esq	27,412	32,258	59,670
	--------	--------	--------