QUOTHQUAN WORKSHOPS LIMITED

Company Registration Number:
SC343535 (Scotland)

Unaudited abridged accounts for the year ended 05 April 2023

Period of accounts

Start date: 06 April 2022

End date: 05 April 2023

QUOTHQUAN WORKSHOPS LIMITED

Contents of the Financial Statements

for the Period Ended 05 April 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

QUOTHQUAN WORKSHOPS LIMITED

Company Information

for the Period Ended 05 April 2023




Director: James McCulloch
Registered office: The Smiddy
Quothquan
Biggar
South Lanarkshire
ML12 6ND
Company Registration Number: SC343535 (Scotland)

QUOTHQUAN WORKSHOPS LIMITED

Directors' Report Period Ended 05 April 2023

The directors present their report with the financial statements of the company for the period ended 05 April 2023

Principal Activities

Motor vehicle repair and parts sales

Directors

The directors shown below have held office during the whole of the period from 06 April 2022 to 05 April 2023
James McCulloch

This report was approved by the board of directors on 23 December 2023
And Signed On Behalf Of The Board By:

Name: James McCulloch
Status: Director

QUOTHQUAN WORKSHOPS LIMITED

Profit and Loss Account

for the Period Ended 05 April 2023


Notes

2023
£

2022
£
Gross Profit or (Loss) 7,226 5,827
Distribution Costs ( 258 ) ( 148 )
Administrative Expenses ( 6,648 ) ( 5,434 )
Operating Profit or (Loss) 320 245
Profit or (Loss) Before Tax 320 245
Tax on Profit ( 166 ) ( 142 )
Profit or (Loss) for Period 154 103

The notes form part of these financial statements

QUOTHQUAN WORKSHOPS LIMITED

Balance sheet

As at 05 April 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 1,141 1,434
Total fixed assets: 1,141 1,434
Current assets
Stocks: 4,200 3,700
Debtors: 331
Cash at bank and in hand: 4,411 4,040
Total current assets: 8,942 7,740
Creditors: amounts falling due within one year: ( 4,264 ) ( 1,540 )
Net current assets (liabilities): 4,678 6,200
Total assets less current liabilities: 5,819 7,634
Creditors: amounts falling due after more than one year: ( 3,500 ) ( 3,500 )
Provision for liabilities: ( 3,155 ) ( 5,124 )
Total net assets (liabilities): ( 836 ) ( 990 )

The notes form part of these financial statements

QUOTHQUAN WORKSHOPS LIMITED

Balance sheet continued

As at 05 April 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: ( 837 ) ( 991 )
Shareholders funds: ( 836 ) ( 990 )

For the year ending 5 April 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 23 December 2023
And Signed On Behalf Of The Board By:

Name: James McCulloch
Status: Director

The notes form part of these financial statements

QUOTHQUAN WORKSHOPS LIMITED

Notes to the Financial Statements

for the Period Ended 05 April 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, inclusive of Value Added Tax and trade discounts (because the company is too small to be VAT registered).

    Tangible fixed assets depreciation policy

    Depreciation of plant machinery has been provided at 10% straight line rate in order to write off assets over their estimated useful lives. Depreciation of office equipment (e.g. computers and printers) has been provided at 34% straight line rate in order to write off assets over their. estimated useful lives (3 years).

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    Stocks and work -in- progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

QUOTHQUAN WORKSHOPS LIMITED

Notes to the Financial Statements

for the Period Ended 05 April 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

    Hourly wages for vehicle repair / restoration work directly chargeable to customers.

QUOTHQUAN WORKSHOPS LIMITED

Notes to the Financial Statements

for the Period Ended 05 April 2023

  • 3. Off balance sheet disclosure

    No

QUOTHQUAN WORKSHOPS LIMITED

Notes to the Financial Statements

for the Period Ended 05 April 2023

4. Tangible Assets

Total
Cost £
At 06 April 2022 4,826
Additions -
Disposals -
Revaluations -
Transfers -
At 05 April 2023 4,826
Depreciation
At 06 April 2022 3,392
Charge for year 293
On disposals -
Other adjustments -
At 05 April 2023 3,685
Net book value
At 05 April 2023 1,141
At 05 April 2022 1,434