AUTOGAS (INVERNESS) LTD.

Company Registration Number:
SC274893 (Scotland)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

AUTOGAS (INVERNESS) LTD.

Contents of the Financial Statements

for the Period Ended 31 October 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

AUTOGAS (INVERNESS) LTD.

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Directors

The directors shown below have held office during the whole of the period from
1 November 2022 to 31 October 2023

Brian Tellum
June Seaber-Tellum


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 July 2024

And signed on behalf of the board by:
Name: Brian Tellum
Status: Director

AUTOGAS (INVERNESS) LTD.

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 4,399 6,599
Total fixed assets: 4,399 6,599
Current assets
Debtors: 4 13,200 28,541
Cash at bank and in hand: 201 329
Total current assets: 13,401 28,870
Creditors: amounts falling due within one year: 5 ( 13,755 ) ( 35,206 )
Net current assets (liabilities): (354) (6,336)
Total assets less current liabilities: 4,045 263
Creditors: amounts falling due after more than one year: 6 ( 4,386 )
Provision for liabilities: ( 1,100 ) ( 1,254 )
Total net assets (liabilities): 2,945 (5,377)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 2,845 (5,477 )
Total Shareholders' funds: 2,945 (5,377)

The notes form part of these financial statements

AUTOGAS (INVERNESS) LTD.

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 30 July 2024
and signed on behalf of the board by:

Name: Brian Tellum
Status: Director

The notes form part of these financial statements

AUTOGAS (INVERNESS) LTD.

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years

    Other accounting policies

    Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

AUTOGAS (INVERNESS) LTD.

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

AUTOGAS (INVERNESS) LTD.

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 46,964 46,964
Additions
Disposals ( 9,500 ) ( 9,500 )
Revaluations
Transfers
At 31 October 2023 37,464 37,464
Depreciation
At 1 November 2022 40,365 40,365
Charge for year 2,200 2,200
On disposals ( 9,500 ) ( 9,500 )
Other adjustments
At 31 October 2023 33,065 33,065
Net book value
At 31 October 2023 4,399 4,399
At 31 October 2022 6,599 6,599

AUTOGAS (INVERNESS) LTD.

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Debtors

2023 2022
£ £
Trade debtors 491
Other debtors 13,200 28,050
Total 13,200 28,541

AUTOGAS (INVERNESS) LTD.

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 5,883 6,597
Trade creditors 1,920 1,320
Taxation and social security 4,160 17,194
Other creditors 1,792 10,095
Total 13,755 35,206

AUTOGAS (INVERNESS) LTD.

Notes to the Financial Statements

for the Period Ended 31 October 2023

6. Creditors: amounts falling due after more than one year note

  2022
  £
Bank loans and overdrafts 4,386
Total   4,386