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REGISTERED NUMBER: SC414461 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Town & Country Leasing Limited

Town & Country Leasing Limited (Registered number: SC414461)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Town & Country Leasing Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mr A W Cruickshank
Mrs C J Cruickshank





REGISTERED OFFICE: 4 Victoria Street
Inverurie
Aberdeenshire
AB51 3QS





REGISTERED NUMBER: SC414461 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Town & Country Leasing Limited (Registered number: SC414461)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,831 99,830

CURRENT ASSETS
Debtors 5 147,275 162,033
Cash at bank and in hand 36,494 12,004
183,769 174,037
CREDITORS
Amounts falling due within one year 6 1,091,476 1,069,379
NET CURRENT LIABILITIES (907,707 ) (895,342 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(861,876

)

(795,512

)

CREDITORS
Amounts falling due after more than one
year

7

24,772

34,408
NET LIABILITIES (886,648 ) (829,920 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (886,650 ) (829,922 )
SHAREHOLDERS' FUNDS (886,648 ) (829,920 )

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

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

Town & Country Leasing Limited (Registered number: SC414461)

Balance Sheet - continued
31 January 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 19 October 2023 and were signed on its behalf by:





Mr A W Cruickshank - Director


Town & Country Leasing Limited (Registered number: SC414461)

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

1. STATUTORY INFORMATION

Town & Country Leasing 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 company made a loss before tax of £57,947 in the current year resulting in a balance sheet deficit of £886,829. If necessary, the company will be supported by the directors and based on this the directors consider it appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Town & Country Leasing Limited (Registered number: SC414461)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2022 128,385 94,046 14,819 237,250
Additions - - 1,249 1,249
Disposals (79,375 ) (50,685 ) - (130,060 )
At 31 January 2023 49,010 43,361 16,068 108,439
DEPRECIATION
At 1 February 2022 97,154 26,776 13,490 137,420
Charge for year 18,285 13,243 884 32,412
Eliminated on disposal (79,374 ) (27,850 ) - (107,224 )
At 31 January 2023 36,065 12,169 14,374 62,608
NET BOOK VALUE
At 31 January 2023 12,945 31,192 1,694 45,831
At 31 January 2022 31,231 67,270 1,329 99,830


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 139,135 126,763
Other debtors 8,140 35,270
147,275 162,033

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 10,000 10,047
Trade creditors 346,501 399,135
Taxation and social security 210,076 236,825
Other creditors 524,899 423,372
1,091,476 1,069,379

Town & Country Leasing Limited (Registered number: SC414461)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 24,772 34,408

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
Mr A W Cruickshank
Balance outstanding at start of year (285,054 ) (150,083 )
Amounts advanced 125,586 62,652
Amounts repaid (190,878 ) (197,623 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (350,346 ) (285,054 )

9. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.