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Company Registration No. SC330621 (Scotland)
Waterside Motors Ltd. Unaudited accounts for the year ended 31 October 2023
Waterside Motors Ltd. Unaudited accounts Contents
Page
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Waterside Motors Ltd. Company Information for the year ended 31 October 2023
Directors
Mrs Christine Ann Boyd Mr John McAllister Boyd Mrs Julie Whiteman
Company Number
SC330621 (Scotland)
Registered Office
24 Waterside Street Largs Ayrshire KA30 9LN Scotland
Accountants
McKinnon & Co Ltd ACPA 33 Newmarket Street Ayr Ayrshire KA7 1LL
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Waterside Motors Ltd. Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,261 
16,295 
Current assets
Inventories
20,550 
20,550 
Debtors
115,147 
11,701 
Cash at bank and in hand
45,178 
70,348 
180,875 
102,599 
Creditors: amounts falling due within one year
(94,650)
(67,666)
Net current assets
86,225 
34,933 
Net assets
100,486 
51,228 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
100,484 
51,226 
Shareholders' funds
100,486 
51,228 
For the year ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by
Mrs Christine Ann Boyd Director Company Registration No. SC330621
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Waterside Motors Ltd. Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Waterside Motors Ltd. is a private company, limited by shares, registered in Scotland, registration number SC330621. The registered office is 24 Waterside Street, Largs, Ayrshire, KA30 9LN, Scotland.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
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:
Plant & machinery
Reducing balance
Motor vehicles
Reducing balance
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
64,102 
8,700 
72,802 
Additions
1,225 
- 
1,225 
At 31 October 2023
65,327 
8,700 
74,027 
Depreciation
At 1 November 2022
48,708 
7,799 
56,507 
Charge for the year
3,259 
- 
3,259 
At 31 October 2023
51,967 
7,799 
59,766 
Net book value
At 31 October 2023
13,360 
901 
14,261 
At 31 October 2022
15,394 
901 
16,295 
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Waterside Motors Ltd. Notes to the Accounts for the year ended 31 October 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
9,597 
11,701 
Amounts falling due after more than one year
Other debtors
105,550 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
10,017 
Trade creditors
37,127 
31,191 
Taxes and social security
27,770 
7,275 
Other creditors
- 
1,242 
Loans from directors
29,753 
16,741 
Accruals
- 
1,200 
94,650 
67,666 
7
Average number of employees
During the year the average number of employees was 6 (2022: 6).
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