Mortlake Station Garage Limited Filleted accounts for Companies House (small and micro)

MORTLAKE STATION GARAGE LIMITED - Company Information

9 false false false false false false false false false true false false false false false false No description of principal activity 2020-12-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 06751441 2020-12-01 2021-11-30 06751441 2021-11-30 06751441 2020-11-30 06751441 2019-12-01 2020-11-30 06751441 2020-11-30 06751441 core:PlantMachinery 2020-12-01 2021-11-30 06751441 core:FurnitureFittings 2020-12-01 2021-11-30 06751441 bus:LeadAgentIfApplicable 2020-12-01 2021-11-30 06751441 bus:Director1 2020-12-01 2021-11-30 06751441 bus:Director2 2020-12-01 2021-11-30 06751441 core:PlantMachinery 2020-11-30 06751441 core:FurnitureFittings 2020-11-30 06751441 core:PlantMachinery 2021-11-30 06751441 core:FurnitureFittings 2021-11-30 06751441 core:WithinOneYear 2021-11-30 06751441 core:WithinOneYear 2020-11-30 06751441 core:ShareCapital 2021-11-30 06751441 core:ShareCapital 2020-11-30 06751441 core:RetainedEarningsAccumulatedLosses 2021-11-30 06751441 core:RetainedEarningsAccumulatedLosses 2020-11-30 06751441 core:PlantMachinery 2020-11-30 06751441 core:FurnitureFittings 2020-11-30 06751441 bus:SmallEntities 2020-12-01 2021-11-30 06751441 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 06751441 bus:FullAccounts 2020-12-01 2021-11-30 06751441 bus:SmallCompaniesRegimeForAccounts 2020-12-01 2021-11-30 06751441 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 06751441 bus:Director1 2021-11-30

COMPANY REGISTRATION NUMBER: 06751441

Mortlake Station Garage Limited

Filleted Unaudited Financial Statements

30 November 2021

Mortlake Station Garage Limited

Financial Statements

Year ended 30 November 2021

Contents	Pages

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

Mortlake Station Garage Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Mortlake Station Garage Limited

Year ended 30 November 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mortlake Station Garage Limited for the year ended 30 November 2021, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

BROOKS & CO. Chartered accountants

9 Cheam Road Ewell Epsom Surrey KT17 1SP

16 August 2022

Mortlake Station Garage Limited

Statement of Financial Position

30 November 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	5	11,781	14,639

Current assets

Stocks		5,000	5,000
Debtors	6	7,144	907
Cash at bank and in hand		131,490	171,875
		---------	---------
		143,634	177,782

Creditors: amounts falling due within one year	7	131,042	168,290
		---------	---------
Net current assets		12,592	9,492
		--------	--------
Total assets less current liabilities		24,373	24,131
		--------	--------
Net assets		24,373	24,131
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	24,273	24,031
	--------	--------
Shareholders funds	24,373	24,131
	--------	--------

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 year ending 30 November 2021 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 .

Mortlake Station Garage Limited

Statement of Financial Position (continued)

30 November 2021

These financial statements were approved by the board of directors and authorised for issue on 16 August 2022 , and are signed on behalf of the board by:

Mr G L Murton	Mr P Townsend
Director	Director

Company registration number: 06751441

Mortlake Station Garage Limited

Notes to the Financial Statements

Year ended 30 November 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Cheam Road, Ewell, Epsom, Surrey, KT17 1SP, UK.

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.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax

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:

Tools, Machinery & Garage Equipment	-	25% straight line
Fixtues & Fitting	-	25% straight line

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured 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 the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2020: 12 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 December 2020	48,486	11,374	59,860
Additions	–	2,696	2,696
	--------	--------	--------
At 30 November 2021	48,486	14,070	62,556
	--------	--------	--------
Depreciation
At 1 December 2020	34,653	10,568	45,221
Charge for the year	4,611	943	5,554
	--------	--------	--------
At 30 November 2021	39,264	11,511	50,775
	--------	--------	--------
Carrying amount
At 30 November 2021	9,222	2,559	11,781
	--------	--------	--------
At 30 November 2020	13,833	806	14,639
	--------	--------	--------

6. Debtors

	2021	2020
	£	£
Other debtors	7,144	907
	-------	----

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	45,863	50,000
Trade creditors	52,350	31,220
Corporation tax	775	10,250
Social security and other taxes	26,178	68,433
Other creditors	5,876	8,387
	---------	---------
	131,042	168,290
	---------	---------

8. Directors' advances, credits and guarantees

Mr P Townsend and Mr G Murton are the managing directors and majority shareholder. The company rents its premises from Mr P Townsend & Mr G Murton and rents totalling £ 44,000 (2020 - £65,000) were paid during the year.