Company Registration No. SC174685 (Scotland)
Dalziel's Garages (Leith) Limited
Unaudited accounts
for the year ended 30 June 2023
Dalziel's Garages (Leith) Limited
Unaudited accounts
Contents
Dalziel's Garages (Leith) Limited
Company Information
for the year ended 30 June 2023
Directors
Helen Ferry Scott
Nicola Walker
Secretary
Helen Ferry Scott
Company Number
SC174685 (Scotland)
Registered Office
17 East Cromwell Street
Leith
Edinburgh
Midlothian
EH6 6HD
Scotland
Accountants
Allsquare (Edinburgh) Ltd
Federation House
222-224 Queensferry Road
Edinburgh
EH4 2BN
Dalziel's Garages (Leith) Limited
Statement of financial position
as at 30 June 2023
Tangible assets
29,163
8,277
Cash at bank and in hand
95,139
81,069
Creditors: amounts falling due within one year
(61,683)
(36,342)
Net current assets
57,677
54,775
Total assets less current liabilities
86,840
63,052
Creditors: amounts falling due after more than one year
(10,417)
(15,417)
Provisions for liabilities
Deferred tax
(2,933)
(1,573)
Called up share capital
400
400
Profit and loss account
73,090
45,662
Shareholders' funds
73,490
46,062
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by
Nicola Walker
Director
Company Registration No. SC174685
Dalziel's Garages (Leith) Limited
Notes to the Accounts
for the year ended 30 June 2023
Dalziel's Garages (Leith) Limited is a private company, limited by shares, registered in Scotland, registration number SC174685. The registered office is 17 East Cromwell Street, Leith, Edinburgh, Midlothian, EH6 6HD, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% straight line
Motor vehicles
20% straight line
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Dalziel's Garages (Leith) Limited
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2022
115,429
67,188
182,617
Additions
11,195
17,162
28,357
At 30 June 2023
126,624
84,350
210,974
At 1 July 2022
107,152
67,188
174,340
Charge for the year
4,039
3,432
7,471
At 30 June 2023
111,191
70,620
181,811
At 30 June 2023
15,433
13,730
29,163
At 30 June 2022
8,277
-
8,277
Amounts falling due within one year
Trade debtors
18,969
4,870
Accrued income and prepayments
698
624
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,000
5,000
Trade creditors
26,088
17,460
Taxes and social security
10,446
3,634
Other creditors
2,645
2,551
7
Creditors: amounts falling due after more than one year
2023
2022
Dalziel's Garages (Leith) Limited
Notes to the Accounts
for the year ended 30 June 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
2,933
1,573
Provision at start of year
1,573
1,624
Charged/(credited) to the profit and loss account
1,360
(51)
Provision at end of year
2,933
1,573
Allotted, called up and fully paid:
400 Ordinary shares of £1 each
400
400
10
Average number of employees
During the year the average number of employees was 8 (2022: 8).