Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Gavin England 12/02/2021 Karen Jappy 12/02/2021 Andrew O'Hare 12/02/2021 Stephen O'Hare 12/02/2021 Karen Michelle Jappy 21 March 2024 The principal activity of the Company during the financial year was that of a mechanics. SC689052 2023-09-30 SC689052 bus:Director1 2023-09-30 SC689052 bus:Director2 2023-09-30 SC689052 bus:Director3 2023-09-30 SC689052 bus:Director4 2023-09-30 SC689052 2022-09-30 SC689052 core:CurrentFinancialInstruments 2023-09-30 SC689052 core:CurrentFinancialInstruments 2022-09-30 SC689052 core:ShareCapital 2023-09-30 SC689052 core:ShareCapital 2022-09-30 SC689052 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC689052 core:RetainedEarningsAccumulatedLosses 2022-09-30 SC689052 core:OtherPropertyPlantEquipment 2022-09-30 SC689052 core:OtherPropertyPlantEquipment 2023-09-30 SC689052 core:CurrentFinancialInstruments 1 2023-09-30 SC689052 core:CurrentFinancialInstruments 1 2022-09-30 SC689052 bus:OrdinaryShareClass1 2023-09-30 SC689052 2022-10-01 2023-09-30 SC689052 bus:FilletedAccounts 2022-10-01 2023-09-30 SC689052 bus:SmallEntities 2022-10-01 2023-09-30 SC689052 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC689052 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC689052 bus:Director1 2022-10-01 2023-09-30 SC689052 bus:Director2 2022-10-01 2023-09-30 SC689052 bus:Director3 2022-10-01 2023-09-30 SC689052 bus:Director4 2022-10-01 2023-09-30 SC689052 bus:Director5 2022-10-01 2023-09-30 SC689052 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 SC689052 2021-10-01 2022-09-30 SC689052 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 SC689052 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC689052 (Scotland)

TAYSIDE CAR TRUCK & VAN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

TAYSIDE CAR TRUCK & VAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023

Contents

TAYSIDE CAR TRUCK & VAN LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2023
TAYSIDE CAR TRUCK & VAN LIMITED

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 209,294 127,935
209,294 127,935
Current assets
Stocks 77,240 63,259
Debtors 4 165,041 111,134
Cash at bank and in hand 348,091 50,764
590,372 225,157
Creditors: amounts falling due within one year 5 ( 561,877) ( 376,768)
Net current assets/(liabilities) 28,495 (151,611)
Total assets less current liabilities 237,789 (23,676)
Provision for liabilities ( 47,308) 0
Net assets/(liabilities) 190,481 ( 23,676)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 190,381 ( 23,776 )
Total shareholders' funds/(deficit) 190,481 ( 23,676)

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tayside Car Truck & Van Limited (registered number: SC689052) were approved and authorised for issue by the Board of Directors on 21 March 2024. They were signed on its behalf by:

Karen Michelle Jappy
Director
TAYSIDE CAR TRUCK & VAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
TAYSIDE CAR TRUCK & VAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tayside Car Truck & Van Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Commerce House, South Street, Elgin, IV30 1JE, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the amounts receivable for sale of motor parts and repairs net of VAT and is recognised on despatch.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 10

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2022 156,458 156,458
Additions 116,596 116,596
At 30 September 2023 273,054 273,054
Accumulated depreciation
At 01 October 2022 28,523 28,523
Charge for the financial year 35,237 35,237
At 30 September 2023 63,760 63,760
Net book value
At 30 September 2023 209,294 209,294
At 30 September 2022 127,935 127,935

4. Debtors

2023 2022
£ £
Trade debtors 151,066 97,356
Corporation tax 0 17
Other debtors 13,975 13,761
165,041 111,134

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 214,595 70,783
Amounts owed to connected companies 92,540 89,950
Corporation tax 9,331 17
Other taxation and social security 53,732 19,181
Other creditors 191,679 196,837
561,877 376,768

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Amounts owed to Entities with control, joint control or significant influence over the company 95,269 89,950

These balances are interest free and have no fixed terms of repayment.

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to Key Management Personnel 89,950 89,950

This balance is interest free and has no fixed terms of repayment.