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SCRAP A CAR SCOTLAND.COM LIMITED

Registered Number
SC535292
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

SCRAP A CAR SCOTLAND.COM LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

Lindsay Craft

Registered Address

Scrap A Car Scotland Strathore Road
Thonton
Kirkcaldy
KY1 4DF

Registered Number

SC535292 (Scotland)
SCRAP A CAR SCOTLAND.COM LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,059,642807,008
1,059,642807,008
Current assets
Stocks118,743103,378
Debtors4840,0111,140,307
Cash at bank and on hand194,564420,698
1,153,3181,664,383
Creditors amounts falling due within one year5(506,728)(888,101)
Net current assets (liabilities)646,590776,282
Total assets less current liabilities1,706,2321,583,290
Creditors amounts falling due after one year6(280,311)(106,123)
Provisions for liabilities(162,112)(100,993)
Net assets1,263,8091,376,174
Capital and reserves
Called up share capital100100
Profit and loss account1,263,7091,376,074
Shareholders' funds1,263,8091,376,174
The financial statements were approved and authorised for issue by the Director on 29 August 2024, and are signed on its behalf by:
Lindsay Craft
Director
Registered Company No. SC535292
SCRAP A CAR SCOTLAND.COM LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery15-
Fixtures and fittings20-
Vehicles25-
Office Equipment-2
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20232022
Average number of employees during the year2829
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 December 22196,167806,843320,2867,1825,0891,335,567
Additions-382,374119,290-5,894507,558
Disposals-(169,040)(78,500)--(247,540)
At 30 November 23196,1671,020,177361,0767,18210,9831,595,585
Depreciation and impairment
At 01 December 2212,375309,483198,8063,9353,960528,559
Charge for year3,92397,88646,8726492,397151,727
On disposals-(81,434)(62,909)--(144,343)
At 30 November 2316,298325,935182,7694,5846,357535,943
Net book value
At 30 November 23179,869694,242178,3072,5984,6261,059,642
At 30 November 22183,792497,360121,4803,2471,129807,008
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables15,31026,445
Other debtors721,5541,034,809
Prepayments and accrued income103,14779,053
Total840,0111,140,307
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables193,268198,741
Bank borrowings and overdrafts10,00010,000
Taxation and social security125,004436,582
Finance lease and HP contracts116,26182,322
Other creditors57,914124,588
Accrued liabilities and deferred income4,28135,868
Total506,728888,101
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts16,61226,612
Other creditors263,69979,511
Total280,311106,123
7.Secured creditors
Finance leases and Hire Purchase contracts are secured on the assets held. Bank of Scotland hold a floating charge dated 14 March 2023 over all the property of the company.