North Street Garage Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04853112 (England and Wales)

NORTH STREET GARAGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

D J Ryan

P J Hayward

SECRETARY:

P J Hayward

REGISTERED OFFICE:

17 North Street

Lewes

East Sussex

BN7 2PE

REGISTERED NUMBER:

04853112 (England and Wales)

ACCOUNTANTS:

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

FIXED ASSETS

Tangible assets

4

15,469

15,081

CURRENT ASSETS

Stocks

9,000

10,000

Debtors

5

22,429

18,368

Cash at bank

33,411

40,514

64,840

68,882

CREDITORS

Amounts falling due within one year

6

80,999

68,484

NET CURRENT (LIABILITIES)/ASSETS

(16,159

)

398

TOTAL ASSETS LESS CURRENT LIABILITIES

(690

)

15,479

CREDITORS

Amounts falling due after more than one year

7

27,256

37,500

NET LIABILITIES

(27,946

)

(22,021

)

CAPITAL AND RESERVES

Called up share capital

8

4

4

Retained earnings

(27,950

)

(22,025

)

SHAREHOLDERS' FUNDS

(27,946

)

(22,021

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2022 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 25th May 2023 and were signed on its behalf by:

D J Ryan - Director

P J Hayward - Director

1.	STATUTORY INFORMATION

North Street Garage 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have considered the company's financial position for the twelve months from the date of signing the financial statements and conclude that there are no material uncertainties in relation to going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st September 2021

58,517

Additions

6,061

Disposals

(800

)

At 31st August 2022

63,778

DEPRECIATION

At 1st September 2021

43,436

Charge for year

5,157

Eliminated on disposal

(284

)

At 31st August 2022

48,309

NET BOOK VALUE

At 31st August 2022

15,469

At 31st August 2021

15,081

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

16,459

16,406

Prepayments

5,970

1,962

22,429

18,368

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

41,233

40,019

Taxation and social security

24,665

12,289

Other creditors

15,101

16,176

80,999

68,484

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

27,256

37,500

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

1

'A' Ordinary

£1

1

1

1

'B' Ordinary

£1

1

1

1

'C' Ordinary

£1

1

1

1

'D' Ordinary

£1

1

1

4

4

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North Street Garage Limited for the year ended 31st August 2022 which comprise the Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of North Street Garage Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of North Street Garage Limited and state those matters that we have agreed to state to the Board of Directors of North Street Garage Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North Street Garage Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that North Street Garage Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of North Street Garage Limited. You consider that North Street Garage Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of North Street Garage Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

26th May 2023