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REGISTERED NUMBER: SC271902 (Scotland)















HYNDLAND MOTOR COMPANY LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023






HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HYNDLAND MOTOR COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2023







DIRECTOR: M P Lyden





REGISTERED OFFICE: 11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT





REGISTERED NUMBER: SC271902 (Scotland)





ACCOUNTANTS: JRD Partnership Ltd
Chartered Accountants
11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT

HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

BALANCE SHEET
31ST JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 219,078 235,324

CURRENT ASSETS
Stocks 106,519 100,055
Debtors 5 91,157 43,762
Cash at bank 47,715 58,450
245,391 202,267
CREDITORS
Amounts falling due within one year 6 185,798 150,125
NET CURRENT ASSETS 59,593 52,142
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,671

287,466

CREDITORS
Amounts falling due after more than one year 7 152,963 172,820
NET ASSETS 125,708 114,646

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 125,706 114,644
SHAREHOLDERS' FUNDS 125,708 114,646

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

BALANCE SHEET - continued
31ST 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 director and authorised for issue on 16th October 2023 and were signed by:





M P Lyden - Director


HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023


1. STATUTORY INFORMATION

Hyndland Motor Company Ltd 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 have been prepared on a going concern basis, notwithstanding the deficiency in both net and current assets, as this is entirely funded by the director who will continue to support the company for the foreseeable future.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 25% on cost
Plant and machinery etc - 20% on cost and 15% 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
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.

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 6 (2022 - 6 ) .

HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st February 2022
and 31st January 2023 201,450 61,803 263,253
DEPRECIATION
At 1st February 2022 8,058 19,871 27,929
Charge for year 8,058 8,188 16,246
At 31st January 2023 16,116 28,059 44,175
NET BOOK VALUE
At 31st January 2023 185,334 33,744 219,078
At 31st January 2022 193,392 41,932 235,324

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st February 2022
and 31st January 2023 29,000
DEPRECIATION
At 1st February 2022 2,115
Charge for year 5,377
At 31st January 2023 7,492
NET BOOK VALUE
At 31st January 2023 21,508
At 31st January 2022 26,885

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 67,330 40,902
Other debtors 23,827 2,860
91,157 43,762

HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,825 16,825
Hire purchase contracts 3,672 3,672
Trade creditors 67,793 23,472
Taxation and social security 14,383 15,736
Other creditors 83,125 90,420
185,798 150,125

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 136,512 156,369
Hire purchase contracts 16,451 16,451
152,963 172,820

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 99,012 118,869

8. RELATED PARTY DISCLOSURES

Other debtors includes a balance of £21,958 due to Hyndland Motor Services (East Kilbride) Ltd, a company controlled by the director.

Other creditors includes a balance of £56,456 due to M P Lyden, director. There are no formal repayment terms and no interest has been charged on this loan.

During the year rent of £4,300 was charged to Hyndland Motor Services (East Kilbride) Ltd, a company controlled by the director.