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REGISTERED NUMBER: SC464621 (Scotland)











Unaudited Financial Statements for the Year Ended 30th November 2023

for

Balmoral Road Car Sales and Service Ltd

Balmoral Road Car Sales and Service Ltd (Registered number: SC464621)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Balmoral Road Car Sales and Service Ltd

Company Information
for the Year Ended 30th November 2023







DIRECTOR: A D T Robinson





REGISTERED OFFICE: 27-29 Balmoral Road
Dumfries
DG1 3BE





REGISTERED NUMBER: SC464621 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Balmoral Road Car Sales and Service Ltd (Registered number: SC464621)

Balance Sheet
30th November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 316,001 322,785

CURRENT ASSETS
Stocks 449,667 444,775
Debtors 5 4,000 4,000
Cash at bank 60,784 78,928
514,451 527,703
CREDITORS
Amounts falling due within one year 6 (252,923 ) (280,774 )
NET CURRENT ASSETS 261,528 246,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

577,529

569,714

CREDITORS
Amounts falling due after more than one year 7 (232,544 ) (298,495 )

PROVISIONS FOR LIABILITIES (5,051 ) (6,340 )
NET ASSETS 339,934 264,879

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 339,933 264,878
SHAREHOLDERS' FUNDS 339,934 264,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 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.

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 6th August 2024 and were signed by:





A D T Robinson - Director


Balmoral Road Car Sales and Service Ltd (Registered number: SC464621)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

Balmoral Road Car Sales and Service Ltd 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 discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

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

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.

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.

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.

Balmoral Road Car Sales and Service Ltd (Registered number: SC464621)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions & contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st December 2022
and 30th November 2023 289,418 24,015 27,995 6,582 348,010
DEPRECIATION
At 1st December 2022 - 9,774 11,091 4,360 25,225
Charge for year - 2,848 3,381 555 6,784
At 30th November 2023 - 12,622 14,472 4,915 32,009
NET BOOK VALUE
At 30th November 2023 289,418 11,393 13,523 1,667 316,001
At 30th November 2022 289,418 14,241 16,904 2,222 322,785

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 4,000 4,000

Balmoral Road Car Sales and Service Ltd (Registered number: SC464621)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 109,702 84,587
Hire purchase contracts 4,239 4,239
Trade creditors 79,534 86,305
Tax 22,166 10,708
Social security and other taxes 9,387 9,823
VAT 7,007 36,632
Directors' current accounts 18,248 45,840
Accrued expenses 2,640 2,640
252,923 280,774

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 228,658 290,371
Hire purchase contracts 3,886 8,124
232,544 298,495

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Funding circle loan 48,223 48,223
TFG Capital No 2 Ltd - 26,364
Funding Circle Loan 2 51,479 -
109,702 84,587

Amounts falling due between one and two years:
Bank loans 16,009 25,770
Funding circle loan 109,273 121,965
TFG Capital loan - 142,636
Funding circle loan 2 103,376 -
228,658 290,371