Company Registration No. SC330621 (Scotland)
Waterside Motors Ltd.
Unaudited accounts
for the year ended 31 October 2023
Waterside Motors Ltd.
Unaudited accounts
Contents
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
Waterside Motors Ltd.
Statement of financial position
as at 31 October 2023
Tangible assets
14,261
16,295
Cash at bank and in hand
45,178
70,348
Creditors: amounts falling due within one year
(94,650)
(67,666)
Net current assets
86,225
34,933
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
Waterside Motors Ltd.
Notes to the Accounts
for the year ended 31 October 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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.
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
At 31 October 2023
65,327
8,700
74,027
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
At 31 October 2023
13,360
901
14,261
At 31 October 2022
15,394
901
16,295
Waterside Motors Ltd.
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
Trade debtors
9,597
11,701
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
37,127
31,191
Taxes and social security
27,770
7,275
Loans from directors
29,753
16,741
7
Average number of employees
During the year the average number of employees was 6 (2022: 6).