West's Garage (KL) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08498579 (England and Wales)

Unaudited Financial Statements For The Year Ended 29 June 2020

for

West's Garage (KL) Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

Mrs A D West

R J H West

Registered office:

11 Church Street

Exning

Newmarket

Suffolk

CB8 7EH

Registered number:

08498579 (England and Wales)

Accountants:

SMD Accounts LLP

Chartered Certified Accountants

Suite 11, Manchester House

113 Northgate Street

Bury St Edmunds

Suffolk

IP33 1HP

Fixed assets

Investment property

4

2,000,000

2,000,000

Current assets

Debtors

5

491,799

541,039

Cash at bank

24,815

130,767

516,614

671,806

Creditors

Amounts falling due within one year

6

1,916,777

2,114,819

Net current liabilities

(1,400,163

)

(1,443,013

)

Total assets less current liabilities

599,837

556,987

Provisions for liabilities

148,833

148,831

Net assets

451,004

408,156

Capital and reserves

Called up share capital

1

1

Retained earnings

451,003

408,155

Shareholders' funds

451,004

408,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 June 2021 and were signed on its behalf by:

R J H West - Director

1.	Statutory information

West's Garage (KL) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	Employees and directors

The average number of employees during the year was NIL (2019 - 2 ).

4.	Investment property

Total

£

Fair value

At 30 June 2019

and 29 June 2020

2,000,000

Net book value

At 29 June 2020

2,000,000

At 29 June 2019

2,000,000

Fair value at 29 June 2020 is represented by:

£

Valuation in 2016

1,216,667

Valuation in 2019

783,333

2,000,000

If the investment property had not been revalued it would have been included at the following historical cost:

2020

2019

£

£

Cost

1,216,667

1,216,667

Aggregate depreciation

(60,833

)

(60,833

)

investment property was valued on an open market basis on 19 January 2019 by the directors of the company. .

5.

Debtors: amounts falling due within one year

2020

2019

£

£

Other debtors

491,799

541,039

6.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

6,331

-

Taxation and social security

89,326

86,946

Other creditors

1,821,120

2,027,873

1,916,777

2,114,819

7.	Ultimate controlling party

The controlling party is Wests Garage (KL) (H) Limited.

The ultimate controlling party is R J H West.