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REGISTERED NUMBER: SC407043 (Scotland)















Kirkstyle Garage Limited

Financial Statements For The Year Ended 30 September 2023






Kirkstyle Garage Limited (Registered number: SC407043)






Contents of the Financial Statements
For The Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Kirkstyle Garage Limited

Company Information
For The Year Ended 30 September 2023







DIRECTOR: A G Stephen





SECRETARY: Mrs C M Stephen





REGISTERED OFFICE: Park House Centre
South Street
Elgin
Moray
IV30 1JB





REGISTERED NUMBER: SC407043 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Kirkstyle Garage Limited (Registered number: SC407043)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 187,087 12,306
187,087 12,306

CURRENT ASSETS
Stocks 2,271 2,769
Debtors 6 6,079 5,208
Cash at bank 320,417 432,063
328,767 440,040
CREDITORS
Amounts falling due within one year 7 29,928 20,150
NET CURRENT ASSETS 298,839 419,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,926

432,196

PROVISIONS FOR LIABILITIES 8 2,124 2,338
NET ASSETS 483,802 429,858

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 483,702 429,758
SHAREHOLDERS' FUNDS 483,802 429,858

Kirkstyle Garage Limited (Registered number: SC407043)

Balance Sheet - continued
30 September 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 31 January 2024 and were signed by:





A G Stephen - Director


Kirkstyle Garage Limited (Registered number: SC407043)

Notes to the Financial Statements
For The Year Ended 30 September 2023

1. STATUTORY INFORMATION

Kirkstyle Garage 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.

Goodwill
Goodwill is the amount paid in connection with the acquisition of a business in 2011. After initially being amortised evenly over its initial estimated useful life of twenty years, the remainder(since 1 October 2015) is now being amortised evenly over its remaining estimated useful life of five 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.
Equipment - 33% on reducing balance, 25% on reducing balance and 20% 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 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.

Kirkstyle Garage Limited (Registered number: SC407043)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 25,000
AMORTISATION
At 1 October 2022
and 30 September 2023 25,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Land and
buildings Equipment Totals
£    £    £   
COST
At 1 October 2022 - 39,469 39,469
Additions 176,712 704 177,416
At 30 September 2023 176,712 40,173 216,885
DEPRECIATION
At 1 October 2022 - 27,163 27,163
Charge for year - 2,635 2,635
At 30 September 2023 - 29,798 29,798
NET BOOK VALUE
At 30 September 2023 176,712 10,375 187,087
At 30 September 2022 - 12,306 12,306

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 5,699 4,618
Other debtors 380 590
6,079 5,208

Kirkstyle Garage Limited (Registered number: SC407043)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 1,633 1,589
Taxation and social security 24,045 15,061
Other creditors 4,250 3,500
29,928 20,150

8. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 2,124 2,338

Deferred
tax
£   
Balance at 1 October 2022 2,338
Credit to Income Statement during year (214 )
Balance at 30 September 2023 2,124

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 October 2022 429,758
Profit for the year 63,944
Dividends (10,000 )
At 30 September 2023 483,702

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £5,500 (2022 - £5,500) were paid to the director .

Kirkstyle Garage Limited (Registered number: SC407043)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

11. RELATED PARTY DISCLOSURES - continued

A G Stephen
is a director in the company


Included in other creditors is an interest free directors loan. There are no repayment terms.

30.9.23 30.9.22
£    £   
Amount due to related party at the balance sheet date 1,478 854

12. ULTIMATE CONTROLLING PARTY

The controlling party is A G Stephen.

The ultimate controlling party is A G Stephen.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Kirkstyle Garage 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 Kirkstyle Garage Limited for the year ended 30 September 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Kirkstyle Garage Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kirkstyle Garage Limited and state those matters that we have agreed to state to the director of Kirkstyle Garage Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kirkstyle Garage Limited and its director for our work or for this report.

It is your duty to ensure that Kirkstyle Garage 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 profit of Kirkstyle Garage Limited. You consider that Kirkstyle Garage 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 Kirkstyle Garage 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.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


31 January 2024