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REGISTERED NUMBER: SC064647 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Ernie Page Motors Limited

Ernie Page Motors Limited (Registered number: SC064647)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ernie Page Motors Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs E Stove
E G Page
Mrs J E Page
M Page





SECRETARY: Mrs J E Page





REGISTERED OFFICE: House of Lin
Clifton
By Ratho
MIDLOTHIAN
EH28 8LQ





REGISTERED NUMBER: SC064647 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Ernie Page Motors Limited (Registered number: SC064647)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,308 8,139
Investment property 5 1,224,947 1,170,000
1,227,255 1,178,139

CURRENT ASSETS
Stocks 12,000 12,000
Investments 6 614,163 653,092
Cash at bank 101,144 142,466
727,307 807,558
CREDITORS
Amounts falling due within one year 7 41,185 56,860
NET CURRENT ASSETS 686,122 750,698
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,913,377

1,928,837

PROVISIONS FOR LIABILITIES 127,516 104,429
NET ASSETS 1,785,861 1,824,408

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 884,301 884,301
Retained earnings 901,460 940,007
1,785,861 1,824,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Ernie Page Motors Limited (Registered number: SC064647)

Balance Sheet - continued
31 March 2023


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 27 September 2023 and were signed on its behalf by:




E G Page - Director



Mrs J E Page - Director


Ernie Page Motors Limited (Registered number: SC064647)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Ernie Page Motors Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Rents received and receivable from properties are included in the profit and loss account. Provision is made for rents due not recoverable.

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 - 33% on cost and 20% on cost

Investment property
Investment properties are included at fair value. Any surplus or deficit is recognised within the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

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

Financial instruments
Investments
Investments are stated at their fair value based on open market prices at the balance sheet date as provided by the company's investment managers.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.


Ernie Page Motors Limited (Registered number: SC064647)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks and other financial institutions.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 26,429
DEPRECIATION
At 1 April 2022 18,290
Charge for year 5,831
At 31 March 2023 24,121
NET BOOK VALUE
At 31 March 2023 2,308
At 31 March 2022 8,139

Ernie Page Motors Limited (Registered number: SC064647)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,170,000
Additions 54,947
At 31 March 2023 1,224,947
NET BOOK VALUE
At 31 March 2023 1,224,947
At 31 March 2022 1,170,000

6. CURRENT ASSET INVESTMENTS
31.3.23 31.3.22
£    £   
Listed investments 614,163 653,092

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 8,985 11,143
Other creditors 32,200 45,717
41,185 56,860

8. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 884,301