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REGISTERED NUMBER: SC128540 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Crown Motors (A & I) Limited

Crown Motors (A & I) Limited (Registered number: SC128540)






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


Crown Motors (A & I) Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mr A S Cumming
Mr G A Cumming





REGISTERED OFFICE: Hillside of Cook
Crudie
Turriff
Aberdeenshire
AB45 1HE





REGISTERED NUMBER: SC128540 (Scotland)





ACCOUNTANTS: SBP
Accountants
9 Carmelite Street
Banff
Aberdeenshire
AB45 1AF

Crown Motors (A & I) Limited (Registered number: SC128540)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 546,441 544,741

CURRENT ASSETS
Stocks 2,410,137 2,228,204
Debtors 5 395,772 192,332
Cash in hand 1,829 1,737
2,807,738 2,422,273
CREDITORS
Amounts falling due within one year 6 1,088,484 1,146,607
NET CURRENT ASSETS 1,719,254 1,275,666
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,265,695

1,820,407

CREDITORS
Amounts falling due after more than one
year

7

(272,900

)

(78,180

)

PROVISIONS FOR LIABILITIES (6,903 ) (6,037 )
NET ASSETS 1,985,892 1,736,190

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 1,960,892 1,711,190
SHAREHOLDERS' FUNDS 1,985,892 1,736,190

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.

Crown Motors (A & I) Limited (Registered number: SC128540)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2023 and were signed on its behalf by:





Mr A S Cumming - Director


Crown Motors (A & I) Limited (Registered number: SC128540)

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

1. STATUTORY INFORMATION

Crown Motors (A & I) 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.

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

Income is included within the Trading and Profit and Loss Account when the company becomes legally entitled to it and it can be quantified with a reasonable degree of accuracy.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Crown Motors (A & I) Limited (Registered number: SC128540)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 February 2022 245,496 346,187 162,566
Additions 4,070 - 5,662
At 31 January 2023 249,566 346,187 168,228
DEPRECIATION
At 1 February 2022 - 78,717 136,491
Charge for year - 6,925 6,857
At 31 January 2023 - 85,642 143,348
NET BOOK VALUE
At 31 January 2023 249,566 260,545 24,880
At 31 January 2022 245,496 267,470 26,075

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2022 5,578 81,500 841,327
Additions - 9,563 19,295
At 31 January 2023 5,578 91,063 860,622
DEPRECIATION
At 1 February 2022 5,578 75,800 296,586
Charge for year - 3,813 17,595
At 31 January 2023 5,578 79,613 314,181
NET BOOK VALUE
At 31 January 2023 - 11,450 546,441
At 31 January 2022 - 5,700 544,741

Crown Motors (A & I) Limited (Registered number: SC128540)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 217,497 165,578
Other debtors 21,412 26,754
Directors' current accounts 146,690 -
VAT 10,173 -
395,772 192,332

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 800,569 648,165
Other loans 78,180 123,800
Trade creditors 116,741 108,367
Tax 70,463 98,886
Social security and other taxes 9,086 8,672
VAT - 46,010
Other creditors 6,635 87,977
Directors' current accounts - 18,637
Accrued expenses 6,810 6,093
1,088,484 1,146,607

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans - 1-2 years 272,900 -
Other loans - 1-2 years - 78,180
272,900 78,180

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank overdrafts 726,247 648,165
Bank loans 347,222 -
1,073,469 648,165

The overdraft and loan are secured by a Bond and Floating Charge held over the assets of the company.