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REGISTERED NUMBER: SC101729 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CRAIGNAIRN CAR WORLD LIMITED

CRAIGNAIRN CAR WORLD LIMITED (REGISTERED NUMBER: SC101729)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRAIGNAIRN CAR WORLD LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: J Grubb





REGISTERED OFFICE: 10 Forth Avenue
Kirkcaldy
Fife
KY2 5PN





REGISTERED NUMBER: SC101729 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Viewforth House
189 Nicol Street
Kirkcaldy
Fife
KY1 1PF

CRAIGNAIRN CAR WORLD LIMITED (REGISTERED NUMBER: SC101729)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,024 101,843

CURRENT ASSETS
Stocks 280,481 276,421
Debtors 5 108,045 65,463
Cash at bank and in hand 31,586 68,370
420,112 410,254
CREDITORS
Amounts falling due within one year 6 73,540 77,784
NET CURRENT ASSETS 346,572 332,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

438,596

434,313

CREDITORS
Amounts falling due after more than one
year

7

(11,667

)

(21,667

)

PROVISIONS FOR LIABILITIES 8 - (658 )
NET ASSETS 426,929 411,988

CAPITAL AND RESERVES
Called up share capital 101 101
Capital redemption reserve 1 1
Retained earnings 426,827 411,886
426,929 411,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CRAIGNAIRN CAR WORLD LIMITED (REGISTERED NUMBER: SC101729)

BALANCE SHEET - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 August 2024 and were signed by:





J Grubb - Director


CRAIGNAIRN CAR WORLD LIMITED (REGISTERED NUMBER: SC101729)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Craignairn Car World 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.

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 value added tax for the sale of second hand vehicles.

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.
Fixtures and fittings - 15% per annum reducing balance
Motor vehicles - 20% per annum reducing balance

Tangible fixed assets are initially recorded at cost.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments including loans and other accounts receivable and payable, are initially measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

CRAIGNAIRN CAR WORLD LIMITED (REGISTERED NUMBER: SC101729)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land & and Motor Computer
buildings fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 51,758 7,577 57,100 3,704 120,139
Additions 900 254 - - 1,154
At 31 March 2024 52,658 7,831 57,100 3,704 121,293
DEPRECIATION
At 1 April 2023 2,838 1,524 13,830 104 18,296
Charge for year 151 946 8,654 1,222 10,973
At 31 March 2024 2,989 2,470 22,484 1,326 29,269
NET BOOK VALUE
At 31 March 2024 49,669 5,361 34,616 2,378 92,024
At 31 March 2023 48,920 6,053 43,270 3,600 101,843

CRAIGNAIRN CAR WORLD LIMITED (REGISTERED NUMBER: SC101729)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 2,665
DEPRECIATION
At 1 April 2023 75
Charge for year 879
At 31 March 2024 954
NET BOOK VALUE
At 31 March 2024 1,711
At 31 March 2023 2,590

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,395 12,213
Other debtors 102,650 53,250
108,045 65,463

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 267 3,198
Trade creditors 7,531 6,290
Taxation and social security 22,490 17,783
Other creditors 33,252 40,513
73,540 77,784

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,667 21,667

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 658

CRAIGNAIRN CAR WORLD LIMITED (REGISTERED NUMBER: SC101729)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 658
Provided during year (658 )
Balance at 31 March 2024 -