Registered number
SC629520
Jack's Auto Car Kare Ltd
Filleted Accounts
31 May 2024
Jack's Auto Car Kare Ltd
Registered number: SC629520
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 35,782 28,827
Current assets
Debtors 4 19,420 14,420
Cash at bank and in hand 20,563 23,037
PAYE Overpayment 5,719 -
45,702 37,457
Creditors: amounts falling due within one year 5 (46,079) (34,509)
Net current (liabilities)/assets (377) 2,948
Total assets less current liabilities 35,405 31,775
Creditors: amounts falling due after more than one year 6 (19,384) (31,482)
RBS Loan (13,272) -
Net assets 2,749 293
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,649 193
Shareholders' funds 2,749 293
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Kinnear
Director
Approved by the board on 2 August 2024
Jack's Auto Car Kare Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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
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 25% by Reducing Balance method
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 period
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 38,829 24,751 63,580
Additions 2,250 13,500 15,750
At 31 May 2024 41,079 38,251 79,330
Depreciation
At 1 June 2023 20,908 13,845 34,753
Charge for the year 4,527 4,268 8,795
At 31 May 2024 25,435 18,113 43,548
Net book value
At 31 May 2024 15,644 20,138 35,782
At 31 May 2023 17,921 10,906 28,827
4 Debtors 2024 2023
£ £
Glenrothes Custom Coatings 10,420 5,420
Other debtors 9,000 9,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,275 15,800
Taxation and social security costs 44,804 18,709
46,079 34,509
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,000 30,000
Director's account - GK 364 82
Shareholders account - NK - 1,400
Obligations under finance lease and hire purchase contracts (980) -
19,384 31,482
7 Other information
Jack's Auto Car Kare Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
No. 1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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