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REGISTERED NUMBER: SC167517 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Anderson Clark Motor Repairs Limited

Anderson Clark Motor Repairs Limited (Registered number: SC167517)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

Anderson Clark Motor Repairs Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: G J Clark
Mrs S Clark





SECRETARY: Mrs S Clark





REGISTERED OFFICE: 16 Carsegate Road
Inverness
IV3 8EX





REGISTERED NUMBER: SC167517 (Scotland)





ACCOUNTANTS: Innes & Partners Limited
Chartered Certified Accountants
9 Ardross Street
Inverness
IV3 5NN

Anderson Clark Motor Repairs Limited (Registered number: SC167517)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 143,061 183,948
143,061 183,948

CURRENT ASSETS
Stocks 7,234 7,000
Debtors 6 338,511 307,665
Cash at bank 750,140 554,068
1,095,885 868,733
CREDITORS
Amounts falling due within one year 7 251,293 176,236
NET CURRENT ASSETS 844,592 692,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

987,653

876,445

CREDITORS
Amounts falling due after more than one
year

8

(26,232

)

(56,990

)

PROVISIONS FOR LIABILITIES (44,584 ) (54,816 )
NET ASSETS 916,837 764,639

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 916,637 764,439
SHAREHOLDERS' FUNDS 916,837 764,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Anderson Clark Motor Repairs Limited (Registered number: SC167517)

Balance Sheet - continued
29 February 2024


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 Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:





G J Clark - Director


Anderson Clark Motor Repairs Limited (Registered number: SC167517)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Anderson Clark Motor Repairs 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 2005, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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.


Anderson Clark Motor Repairs Limited (Registered number: SC167517)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 . Payments in respect of directors pension scheme are also charged to profit and loss in the relevant period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 60,000
AMORTISATION
At 1 March 2023
and 29 February 2024 60,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

Anderson Clark Motor Repairs Limited (Registered number: SC167517)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 24,553 135,923 26,472 177,368 364,316
Additions - 6,795 - - 6,795
Disposals - (35,949 ) (766 ) - (36,715 )
At 29 February 2024 24,553 106,769 25,706 177,368 334,396
DEPRECIATION
At 1 March 2023 24,553 85,177 10,201 60,437 180,368
Charge for year - 12,542 4,069 29,232 45,843
Eliminated on disposal - (34,447 ) (429 ) - (34,876 )
At 29 February 2024 24,553 63,272 13,841 89,669 191,335
NET BOOK VALUE
At 29 February 2024 - 43,497 11,865 87,699 143,061
At 28 February 2023 - 50,746 16,271 116,931 183,948

The net book value of tangible fixed assets includes £ 72,225 (2023 - £ 130,133 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 82,661 51,373
Other debtors 255,850 256,292
338,511 307,665

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 20,961 31,690
Trade creditors 61,880 47,064
Taxation and social security 152,976 86,181
Other creditors 15,476 11,301
251,293 176,236

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 26,232 56,990

Anderson Clark Motor Repairs Limited (Registered number: SC167517)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
100 Ordinary "A" £1 100 100
200 200

10. RELATED PARTY DISCLOSURES

During the year the company paid rent of £35,500 (2023: £30,000) to G J Clark and Mrs S Clark, who are directors and shareholders.

Included in other debtors is a loan of £250,000 (2023: £250,000) to SCION Highland Limited, a company in which G J Clark and Mrs S Clark are directors and shareholders.

11. ULTIMATE CONTROLLING PARTY

The controlling party is G J Clark.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Anderson Clark Motor Repairs Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Anderson Clark Motor Repairs Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of Anderson Clark Motor Repairs Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Anderson Clark Motor Repairs Limited and state those matters that we have agreed to state to the Board of Directors of Anderson Clark Motor Repairs Limited, as a body, 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 Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Anderson Clark Motor Repairs 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 Anderson Clark Motor Repairs Limited. You consider that Anderson Clark Motor Repairs 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 Anderson Clark Motor Repairs 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.






Innes & Partners Limited
Chartered Certified Accountants
9 Ardross Street
Inverness
IV3 5NN


5 April 2024