Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity2322truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC657704 2023-04-01 2024-03-31 SC657704 2022-04-01 2023-03-31 SC657704 2024-03-31 SC657704 2023-03-31 SC657704 c:Director1 2023-04-01 2024-03-31 SC657704 c:Director2 2023-04-01 2024-03-31 SC657704 c:RegisteredOffice 2023-04-01 2024-03-31 SC657704 d:Buildings 2023-04-01 2024-03-31 SC657704 d:Buildings 2024-03-31 SC657704 d:Buildings 2023-03-31 SC657704 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC657704 d:PlantMachinery 2023-04-01 2024-03-31 SC657704 d:PlantMachinery 2024-03-31 SC657704 d:PlantMachinery 2023-03-31 SC657704 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC657704 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC657704 d:CurrentFinancialInstruments 2024-03-31 SC657704 d:CurrentFinancialInstruments 2023-03-31 SC657704 d:Non-currentFinancialInstruments 2024-03-31 SC657704 d:Non-currentFinancialInstruments 2023-03-31 SC657704 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC657704 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC657704 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC657704 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC657704 d:ShareCapital 2024-03-31 SC657704 d:ShareCapital 2023-03-31 SC657704 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC657704 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC657704 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC657704 c:OrdinaryShareClass1 2024-03-31 SC657704 c:OrdinaryShareClass1 2023-03-31 SC657704 c:FRS102 2023-04-01 2024-03-31 SC657704 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC657704 c:FullAccounts 2023-04-01 2024-03-31 SC657704 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC657704 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC657704










AUTOSALES KIRRIEMUIR LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
AUTOSALES KIRRIEMUIR LIMITED
 

COMPANY INFORMATION


DIRECTORS
Barrie Ewart 
Bruce Ewart 




REGISTERED NUMBER
SC657704



REGISTERED OFFICE
Lindsay Street

Kirriemuir

DD8 5AP




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
AUTOSALES KIRRIEMUIR LIMITED
REGISTERED NUMBER: SC657704

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
470,260
435,611

  
470,260
435,611

CURRENT ASSETS
  

Stocks
  
1,906,047
1,863,706

Debtors: amounts falling due within one year
 5 
(7,514)
59,203

Cash at bank and in hand
  
388,283
22,875

  
2,286,816
1,945,784

Creditors: amounts falling due within one year
 6 
(1,828,482)
(1,604,175)

NET CURRENT ASSETS
  
 
 
458,334
 
 
341,609

TOTAL ASSETS LESS CURRENT LIABILITIES
  
928,594
777,220

Creditors: amounts falling due after more than one year
  
(69,290)
(137,795)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(24,615)
(14,387)

  
 
 
(24,615)
 
 
(14,387)

NET ASSETS
  
834,689
625,038


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
834,589
624,938

  
834,689
625,038


Page 1

 
AUTOSALES KIRRIEMUIR LIMITED
REGISTERED NUMBER: SC657704

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 September 2024.




Barrie Ewart
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
AUTOSALES KIRRIEMUIR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

The entity is a private company, limited by shares, incorporated in Scotland, with the registration number SC657704. The registered office is Lindsay Street, Kirriemuir, DD8 5AP.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
AUTOSALES KIRRIEMUIR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Heritable property
-
Not depreciated
Plant and machinery
-
18%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
AUTOSALES KIRRIEMUIR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 23 (2023 - 22).

Page 5

 
AUTOSALES KIRRIEMUIR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


TANGIBLE FIXED ASSETS





Heritable property
Plant and machinery
Total

£
£
£



COST OR VALUATION


At 1 April 2023
340,000
129,486
469,486


Additions
-
63,242
63,242



At 31 March 2024

340,000
192,728
532,728



DEPRECIATION


At 1 April 2023
-
33,875
33,875


Charge for the year on owned assets
-
28,593
28,593



At 31 March 2024

-
62,468
62,468



NET BOOK VALUE



At 31 March 2024
340,000
130,260
470,260



At 31 March 2023
340,000
95,611
435,611


5.


DEBTORS

2024
2023
£
£


Trade debtors
(8,327)
59,203

Other debtors
813
-

(7,514)
59,203



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
-
79,891

Bank loans
60,751
52,998

Trade creditors
795,160
572,302

Other taxation and social security
108,736
80,746

Other creditors
857,585
812,238

Accruals and deferred income
6,250
6,000

1,828,482
1,604,175


Page 6

 
AUTOSALES KIRRIEMUIR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
69,290
137,795

69,290
137,795



8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 7