REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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FOR |
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PARKVIEW GARAGE LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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FOR |
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PARKVIEW GARAGE LTD |
PARKVIEW GARAGE LTD (REGISTERED NUMBER: SC498691) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 28 February 2022 |
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Page |
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Abridged Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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PARKVIEW GARAGE LTD (REGISTERED NUMBER: SC498691) |
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ABRIDGED BALANCE SHEET |
28 February 2022 |
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28.2.22 | 28.2.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
PARKVIEW GARAGE LTD (REGISTERED NUMBER: SC498691) |
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ABRIDGED BALANCE SHEET - continued |
28 February 2022 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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PARKVIEW GARAGE LTD (REGISTERED NUMBER: SC498691) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 28 February 2022 |
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1. | STATUTORY INFORMATION |
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Parkview Garage Ltd is a
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Registered number: |
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Registered office: |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover and revenue recognition |
Turnover represents net invoiced sales of cars and car repairs, excluding VAT. Revenue is recognised when goods and services are provided to the customer. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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PARKVIEW GARAGE LTD (REGISTERED NUMBER: SC498691) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 28 February 2022 |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2021 |
and 28 February 2022 |
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AMORTISATION |
At 1 March 2021 |
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Amortisation for year |
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At 28 February 2022 |
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NET BOOK VALUE |
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At 28 February 2022 |
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At 28 February 2021 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 March 2021 |
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Additions |
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At 28 February 2022 |
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DEPRECIATION |
At 1 March 2021 |
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Charge for year |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 28 February 2021 |
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6. | COVID-19 |
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As a member of the car repair sector the business was not subject to the mandatory shut down imposed by both the UK and Scottish Governments however trade has fluctuated as a result of the pandemic. Some staff members were placed on furlough and were eligible for the Government's Coronavirus Job Retention Scheme (CJRS) which reimbursed 80% of the salaries of furloughed staff of all eligible businesses. |