Axford Garage Services Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 07040735

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		4,200		8,400
Tangible Assets	5		1,593		1,883

			5,793		10,283
CURRENT ASSETS
Stocks	6	1,000		1,000
Debtors	7	56,226		48,540
Cash at bank and in hand		610		1,594

		57,836		51,134
Creditors: Amounts Falling Due Within One Year	8	(48,878 )		(42,483 )

NET CURRENT ASSETS (LIABILITIES)			8,958		8,651

TOTAL ASSETS LESS CURRENT LIABILITIES			14,751		18,934

Creditors: Amounts Falling Due After More Than One Year	9		(14,263 )		(18,425 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(304 )		(359 )

NET ASSETS			184		150

CAPITAL AND RESERVES
Called up share capital	10		102		102
Income Statement			82		48

SHAREHOLDERS' FUNDS			184		150

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Axford Garage Services Limited

Statement of Financial Position (continued)

As At 31 March 2026

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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr T Bailey

Director

13/10/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Axford Garage Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07040735 . The registered office is Unit B Smiths Yard, Axford, Marlborough, Wiltshire, SN8 2EY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	15% Reducing Balance

2.5. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Axford Garage Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2025: 4)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2025	60,000

As at 31 March 2026	60,000

Amortisation
As at 1 April 2025	51,600
Provided during the period	4,200

As at 31 March 2026	55,800

Net Book Value
As at 31 March 2026	4,200

As at 1 April 2025	8,400

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 April 2025	7,890	1,600	6,719	16,209

As at 31 March 2026	7,890	1,600	6,719	16,209

Depreciation
As at 1 April 2025	6,788	1,534	6,004	14,326
Provided during the period	166	17	107	290

As at 31 March 2026	6,954	1,551	6,111	14,616

Net Book Value
As at 31 March 2026	936	49	608	1,593

As at 1 April 2025	1,102	66	715	1,883

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Axford Garage Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Stocks

	2026	2025
	£	£
Finished goods	1,000	1,000

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	11,080	9,613
Other debtors	33,436	29,502

	44,516	39,115
Due after more than one year
Other debtors	11,710	9,425

	56,226	48,540

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	14,477	20,973
Bank loans and overdrafts	4,161	4,059
Other creditors	15,263	11,484
Taxation and social security	14,977	5,967

	48,878	42,483

9. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	14,263	18,425

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	102	102

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Thomas Bailey	21,754	11,531	(4,760 )	-	28,525
Mrs Lydia Leighfield	6,478	6,517	(8,217 )	-	4,778

The above loan is unsecured and repayable on demand.

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