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REGISTERED NUMBER: SC323608 (Scotland)











Unaudited Financial Statements for the Year Ended 30th April 2023

for

L & P Motors Eastriggs Limited

L & P Motors Eastriggs Limited (Registered number: SC323608)






Contents of the Financial Statements
for the Year Ended 30th April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


L & P Motors Eastriggs Limited

Company Information
for the Year Ended 30th April 2023







DIRECTOR: P Hornby





SECRETARY: Mrs E Hornby





REGISTERED OFFICE: 147 Empire Way
Gretna
Dumfriesshire
DUMFRIESSHIRE
DG16 5BS





REGISTERED NUMBER: SC323608 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

L & P Motors Eastriggs Limited (Registered number: SC323608)

Balance Sheet
30th April 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 171,537 184,676

CURRENT ASSETS
Inventories 1,500 13,000
Debtors 5 - 152
Cash at bank and in hand 16,401 8,865
17,901 22,017
CREDITORS
Amounts falling due within one year 6 (51,030 ) (62,849 )
NET CURRENT LIABILITIES (33,129 ) (40,832 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,408

143,844

CREDITORS
Amounts falling due after more than one year 7 (33,272 ) (41,131 )

PROVISIONS FOR LIABILITIES (15,650 ) (18,146 )
NET ASSETS 89,486 84,567

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 89,485 84,566
89,486 84,567

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd March 2024 and were signed by:





P Hornby - Director


L & P Motors Eastriggs Limited (Registered number: SC323608)

Notes to the Financial Statements
for the Year Ended 30th April 2023

1. STATUTORY INFORMATION

L & P Motors Eastriggs 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
Inventories 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 Statement of Income and Retained Earnings, 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.

L & P Motors Eastriggs Limited (Registered number: SC323608)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st May 2022 89,171 94,932 3,000 79,141 266,244
Additions - 5,208 - - 5,208
At 30th April 2023 89,171 100,140 3,000 79,141 271,452
DEPRECIATION
At 1st May 2022 - 37,307 - 44,261 81,568
Charge for year - 8,645 - 9,702 18,347
At 30th April 2023 - 45,952 - 53,963 99,915
NET BOOK VALUE
At 30th April 2023 89,171 54,188 3,000 25,178 171,537
At 30th April 2022 89,171 57,625 3,000 34,880 184,676

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sundry Debtors - 152

L & P Motors Eastriggs Limited (Registered number: SC323608)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 4,471 4,727
Other loans (see note 8) 19,925 25,741
Hire purchase contracts - 6,603
Trade creditors 8,397 899
Tax 3,465 1,728
VAT 1,507 -
Directors' current accounts 13,265 23,151
51,030 62,849

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 3,168 3,168
Other loans (see note 8) 30,104 33,519
Hire purchase contracts - 4,444
33,272 41,131

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 256
Bank loans 4,471 4,471
HSBC Bounce Back Loan 19,925 25,741
24,396 30,468

Amounts falling due between one and two years:
BOS Bounce Back Loan 30,104 33,519

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,168 3,168