| Yaxley Garage Rentals Ltd |
| Registered number: |
08977875 |
| Balance Sheet |
| as at 30 April 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
100,788 |
|
|
76,000 |
|
| Current assets |
| Debtors |
4 |
|
637 |
|
|
1,350 |
| Cash at bank and in hand |
|
|
8,225 |
|
|
334 |
|
|
|
8,862 |
|
|
1,684 |
|
| Creditors: amounts falling due within one year |
5 |
|
(90,813) |
|
|
(50,959) |
|
| Net current liabilities |
|
|
|
(81,951) |
|
|
(49,275) |
|
| Total assets less current liabilities |
|
|
|
18,837 |
|
|
26,725 |
|
|
| Provision for deferred tax |
|
|
|
(124) |
|
|
(4,308) |
|
|
| Net assets |
|
|
|
18,713 |
|
|
22,417 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Revaluation reserve |
6 |
|
|
527 |
|
|
18,365 |
| Profit and loss account |
|
|
|
18,184 |
|
|
4,050 |
|
| Shareholders' funds |
|
|
|
18,713 |
|
|
22,417 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| J W Yaxley |
| Director |
| Approved by the board on 2 December 2021 |
|
| Yaxley Garage Rentals Ltd |
| Notes to the Accounts |
| for the year ended 30 April 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value of rentals charged to tenants. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost or valuation |
|
At 1 May 2020 |
76,000 |
|
1,317 |
|
77,317 |
|
Additions at cost |
89,005 |
|
360 |
|
89,365 |
|
Deficit on revaluation |
(505) |
|
- |
|
(505) |
|
Disposals |
(64,000) |
|
- |
|
(64,000) |
|
At 30 April 2021 |
100,500 |
|
1,677 |
|
102,177 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2020 |
- |
|
1,317 |
|
1,317 |
|
Charge for the year |
- |
|
72 |
|
72 |
|
At 30 April 2021 |
- |
|
1,389 |
|
1,389 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2021 |
100,500 |
|
288 |
|
100,788 |
|
At 30 April 2020 |
76,000 |
|
- |
|
76,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2021 |
|
2020 |
| £ |
£ |
|
Historical cost |
99,850 |
|
53,327 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
99,850 |
|
53,327 |
|
The directors have placed a total valuation of £100,500 on seven garages that were purchased during the year, together with another garage that was purchased in the previous year. Eight garages were sold during the year at an agreed price of £64,000. |
|
|
| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
181 |
|
- |
|
Other debtors |
456 |
|
1,350 |
|
|
|
|
|
|
637 |
|
1,350 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Taxation and social security costs |
3,253 |
|
508 |
|
Other creditors |
87,560 |
|
50,451 |
|
|
|
|
|
|
90,813 |
|
50,959 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Revaluation reserve |
2021 |
|
2020 |
| £ |
£ |
|
|
At 1 May 2020 |
18,365 |
|
26,340 |
|
Change in valuation of land and buildings |
(22,023) |
|
(9,845) |
|
Deferred taxation arising on the revaluation of land and buildings |
4,185 |
|
1,870 |
|
|
At 30 April 2021 |
527 |
|
18,365 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Yaxley Garage Rentals Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
30 Deering Close |
|
St. Marys Island |
|
Chatham |
|
Kent |
|
ME4 3SX |
