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OFF-ROAD CUSTOM AND CLASSIC VEHICLES LIMITED

Registered Number
SC616635
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

OFF-ROAD CUSTOM AND CLASSIC VEHICLES LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

James Boyle
James Boyle

Company Secretary

BOYLE, James

Registered Address

Unit 7. Block 5 Larkfield Industrial Estate
Earnhill Road
Greenock
PA16 0EQ

Registered Number

SC616635 (Scotland)
OFF-ROAD CUSTOM AND CLASSIC VEHICLES LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,0983,687
2,0983,687
Current assets
Cash at bank and on hand658359
658359
Creditors amounts falling due within one year5(26,808)(21,479)
Net current assets (liabilities)(26,150)(21,120)
Total assets less current liabilities(24,052)(17,433)
Creditors amounts falling due after one year(10,367)(10,960)
Net assets(34,419)(28,393)
Capital and reserves
Called up share capital88
Profit and loss account(34,427)(28,401)
Shareholders' funds(34,419)(28,393)
The financial statements were approved and authorised for issue by the Board of Directors on 15 September 2024, and are signed on its behalf by:
James Boyle
Director
Registered Company No. SC616635
OFF-ROAD CUSTOM AND CLASSIC VEHICLES LIMITED
Notes to the Financial Statements
for the year ended 31 December 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 236,944
At 31 December 236,944
Depreciation and impairment
At 01 January 233,258
Charge for year1,588
At 31 December 234,846
Net book value
At 31 December 232,098
At 31 December 223,687
4.Debtors: amounts due within one year
5.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts26,26220,957
Accrued liabilities and deferred income546522
Total26,80821,479