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REGISTERED NUMBER: SC335417 (Scotland)




















NIDDRIE MOTOR COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






NIDDRIE MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC335417)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

NIDDRIE MOTOR COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: G I Brennen





REGISTERED OFFICE: 1169 Tollcross Road
Glasgow
G32 8HB





REGISTERED NUMBER: SC335417 (Scotland)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

NIDDRIE MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC335417)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 102 135
102 135

CURRENT ASSETS
Stocks 6 26,960 236,481
Debtors 7 34,652 -
Cash at bank 116,273 386,199
177,885 622,680
CREDITORS
Amounts falling due within one year 8 23,340 428,148
NET CURRENT ASSETS 154,545 194,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,647

194,667

CREDITORS
Amounts falling due after more than one
year

9

(20,778

)

(30,771

)

PROVISIONS FOR LIABILITIES 10 (19 ) (26 )
NET ASSETS 133,850 163,870

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 12 133,849 163,869
SHAREHOLDERS' FUNDS 133,850 163,870

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

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

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 7 February 2024 and were signed by:



G I Brennen - Director


NIDDRIE MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC335417)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Niddrie Motor Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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 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.

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.

Operating lease commitments
Amounts payable under operating leases are charged to the profit and loss account as they accrue.

NIDDRIE MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC335417)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 160,000
AMORTISATION
At 1 June 2022
and 31 May 2023 160,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2022
and 31 May 2023 521 2,000 909 3,430
DEPRECIATION
At 1 June 2022 386 2,000 909 3,295
Charge for year 33 - - 33
At 31 May 2023 419 2,000 909 3,328
NET BOOK VALUE
At 31 May 2023 102 - - 102
At 31 May 2022 135 - - 135

6. STOCKS
2023 2022
£    £   
Stocks 26,960 236,481

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts 28,085 -
Corporation tax 6,567 -
34,652 -

NIDDRIE MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC335417)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,993 9,738
Trade creditors 352 3,108
Corporation tax - 11,254
Social security and other taxes 670 166
VAT 5,418 9,440
Other creditors - 16,807
Directors' current accounts - 369,182
Accruals and deferred income 6,907 8,453
23,340 428,148

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,255 9,993
Bank loans - 2-5 years 10,523 20,778
20,778 30,771

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 19 26

Deferred
tax
£   
Balance at 1 June 2022 26
Credit to Income Statement during year (7 )
Balance at 31 May 2023 19

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

12. RESERVES
Retained
earnings
£   

At 1 June 2022 163,869
Deficit for the year (28,020 )
Dividends (2,000 )
At 31 May 2023 133,849

NIDDRIE MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC335417)

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

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
G I Brennen
Balance outstanding at start of year - -
Amounts advanced 28,085 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,085 -

The loan is interest free and repayable on demand.

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £15,000) were paid to the director .

At the beginning of the year the company owed the director £369,182. During the year the director made net aggregated withdrawals of £397,267 from the company. At 31 May 2023 the director owed the company £28,085. This loan is interest free and repayable on demand.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NIDDRIE MOTOR COMPANY LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Niddrie Motor Company Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Niddrie Motor Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Niddrie Motor Company Limited and state those matters that we have agreed to state to the director of Niddrie Motor Company Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Niddrie Motor Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Niddrie Motor Company Limited. You consider that Niddrie Motor Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Niddrie Motor Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


7 February 2024