Company Registration No. SC481492 (Scotland)
FERGUSLIE GARAGE LTD
Unaudited accounts
for the year ended 31 July 2023
FERGUSLIE GARAGE LTD
Unaudited accounts
Contents
FERGUSLIE GARAGE LTD
Company Information
for the year ended 31 July 2023
Company Number
SC481492 (Scotland)
Registered Office
2 VICTORIA PLACE
RUTHERGLEN
GLASGOW
G73 2JP
Accountants
Brand Jamieson & Co Ltd
2 Victoria Place
Rutherglen
Glasgow
G73 2JP
FERGUSLIE GARAGE LTD
Statement of financial position
as at 31 July 2023
Tangible assets
73,171
61,525
Cash at bank and in hand
63,658
42,785
Creditors: amounts falling due within one year
(58,785)
(56,690)
Net current assets/(liabilities)
16,010
(3,651)
Total assets less current liabilities
89,181
57,874
Creditors: amounts falling due after more than one year
(6,879)
(11,255)
Called up share capital
100
100
Profit and loss account
82,202
46,519
Shareholders' funds
82,302
46,619
For the year ending 31 July 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 director acknowledges his 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 and authorised for issue on 29 February 2024 and were signed on its behalf by
CRAIG ORR
Director
Company Registration No. SC481492
FERGUSLIE GARAGE LTD
Notes to the Accounts
for the year ended 31 July 2023
FERGUSLIE GARAGE LTD is a private company, limited by shares, registered in Scotland, registration number SC481492. The registered office is 2 VICTORIA PLACE, RUTHERGLEN, GLASGOW, G73 2JP.
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.
The accounts are presented in £ sterling.
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:
Land & buildings
10% reducing balance
Plant & machinery
15% reducing balance.
Motor vehicles
25% reducing balance.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
38,952
36,209
7,813
82,974
Additions
-
10,173
15,080
25,253
At 31 July 2023
38,952
46,382
22,893
108,227
At 1 August 2022
3,895
14,204
3,350
21,449
Charge for the year
3,895
4,826
4,886
13,607
At 31 July 2023
7,790
19,030
8,236
35,056
At 31 July 2023
31,162
27,352
14,657
73,171
At 31 July 2022
35,057
22,005
4,463
61,525
Amounts falling due within one year
FERGUSLIE GARAGE LTD
Notes to the Accounts
for the year ended 31 July 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,000
3,900
Trade creditors
9,186
5,867
Taxes and social security
21,351
26,073
Loans from directors
6,141
6,939
7
Creditors: amounts falling due after more than one year
2023
2022
8
Transactions with related parties
During the year , dividends of £35,000 ( 2022 £20,000 ) were paid to the director.
The controlling party is the director , Craig Orr.
10
Average number of employees
During the year the average number of employees was 5 (2022: 5).