Garden City Garage Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12458001

Garden City Garage Ltd

Filleted Unaudited Financial Statements

31 March 2026

Garden City Garage Ltd

Financial Statements

Year ended 31 March 2026

CONTENTS	PAGE

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Garden City Garage Ltd

Officers and Professional Advisers

The board of directors	Mrs R Stokes
	Mr G B Stokes
	Miss L E Stokes - Resigned 27th July 2026

Registered office	Garden City Garage
	Dulais Road
	Seven Sisters
	Neath
	Wales
	SA10 9ES

Accountants	James & Uzzell Ltd
	Chartered Certified Accountants
	Axis 15, Axis Court
	Mallard Way
	Riverside Business Park
	Swansea
	SA7 0AJ

Garden City Garage Ltd

Statement of Financial Position

31 March 2026

	2026	2025
		(restated)
Note	£	£

FIXED ASSETS

Tangible assets	5	1,174,519	1,170,224

CURRENT ASSETS

Stocks	6	88,463	68,445
Debtors	7	164,202	75,433
Cash at bank and in hand		63,466	12,007
		---------	---------
		316,131	155,885

CREDITORS: amounts falling due within one year	8	1,203,129	1,142,350
		------------	------------
NET CURRENT LIABILITIES		886,998	986,465
		------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES		287,521	183,759

CREDITORS: amounts falling due after more than one year	9	160,590	92,416

PROVISIONS	50,293	70,765
	---------	---------
NET ASSETS	76,638	20,578
	---------	---------

CAPITAL AND RESERVES

Called up share capital	10	150	150
Profit and loss account		76,488	20,428
		--------	--------
SHAREHOLDERS FUNDS		76,638	20,578
		--------	--------

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 comprehensive income has not been delivered.

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.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Garden City Garage Ltd

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 8 October 2026 , and are signed on behalf of the board by:

Rael Stokes

Director

Company registration number: 12458001

Garden City Garage Ltd

Notes to the Financial Statements

Year ended 31 March 2026

1. GENERAL INFORMATION

Garden City Garage Ltd is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities is the maintenance and repair of motor vehicles.

2. STATEMENT OF COMPLIANCE

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 31 March 2026. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The directors have considered the future trading position of the company and are confident that the going concern principle can be applied to the financial statements.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See notes for the carrying amount of the property plant and equipment, and the depreciation accounting policy for the useful economic lives for each class of assets.

(ii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See notes for the net carrying amount of the debtors and associated impairment provision.

(iii) Stock provisioning

The company sells parts for motor vehicles and is subject to consumer demands. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability.

(iv) Provisions

Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes.

(v) Going Concern

The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Turnover and other income

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Sale of goods Turnover from sales is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of goods. Rendering of services When the outcome of a transaction can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. Interest receivable Interest income is recognised using the effective interest method.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease. Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery	-	10% straight line
Motor vehicles	-	15% straight line
Equipment	-	10% straight line

Property - Not Depreciated

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 18 (2025: 18 ).

5. TANGIBLE ASSETS

	Property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2025 (as restated)	756,450	227,028	251,248	99,952	1,334,678
Additions	–	21,910	138,285	–	160,195
Disposals	–	( 18,625)	( 117,206)	–	( 135,831)
	---------	---------	---------	--------	------------
At 31 March 2026	756,450	230,313	272,327	99,952	1,359,042
	---------	---------	---------	--------	------------
Depreciation
At 1 April 2025	–	41,716	85,260	37,478	164,454
Charge for the year	–	19,251	36,166	8,927	64,344
Disposals	–	–	( 44,275)	–	( 44,275)
	---------	---------	---------	--------	------------
At 31 March 2026	–	60,967	77,151	46,405	184,523
	---------	---------	---------	--------	------------
Carrying amount
At 31 March 2026	756,450	169,346	195,176	53,547	1,174,519
	---------	---------	---------	--------	------------
At 31 March 2025	756,450	185,312	165,988	62,474	1,170,224
	---------	---------	---------	--------	------------

6. STOCKS

	2026	2025
		(restated)
	£	£
Raw materials and consumables	88,463	68,445
	--------	--------

7. DEBTORS

	2026	2025
		(restated)
	£	£
Trade debtors	54,942	26,894
Amounts owed by group undertakings and undertakings in which the company has a participating interest	80,588	14,750
Other debtors	28,672	33,789
	---------	--------
	164,202	75,433
	---------	--------

8. CREDITORS: amounts falling due within one year

	2026	2025
		(restated)
	£	£
Bank loans and overdrafts	–	13,513
Trade creditors	333,491	281,997
Corporation tax	32,228	–
Social security and other taxes	61,285	48,588
Other creditors	776,125	798,252
	------------	------------
	1,203,129	1,142,350
	------------	------------

The Hire Purchase contracts are secured against the related fixed asset. The aggregate amount of secured liabilities falling due within one year is £29,823 (2025: £18,590)

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

	2026	2025
		(restated)
	£	£
Other creditors	160,590	92,416
	---------	--------

The Hire Purchase contracts are secured against the related fixed asset. The aggregate amount of secured liabilities falling due after one year is £160,590 (2025: £92,416)

10. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2026		2025
			(restated)
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
Ordinary B shares of £ 1 each	50	50	50	50
	----	----	----	----
	150	150	150	150
	----	----	----	----

11. RELATED PARTY TRANSACTIONS

Exemption under Section 33.1A has been claimed not to disclose transactions for 100% group companies. Key Management Personnel of the entity or its parent The amount owed by the company to the key management personnel by the company at the year end is £734,507 (2025: £775,421 CR) No interest has been incurred in relation to this balance.

12. PARENT UNDERTAKINGS

The ultimate parent company is Garden City Holdings Limited, a company registered in England & Wales. The registered office of the ultimate parent company is the same as that on page 1 of these financial statements.

13. PRIOR YEAR ADJUSTMENT

Last years accounts have been restated due to the addition of property being omitted from the accounts.