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REGISTERED NUMBER: SC380714 (Scotland)












Financial Statements for the Year Ended 31 August 2024

for

BRIDGE END GARAGE (MONTROSE) LIMITED

BRIDGE END GARAGE (MONTROSE) LIMITED (REGISTERED NUMBER: SC380714)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRIDGE END GARAGE (MONTROSE) LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTOR: D Fairweather





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC380714 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

BRIDGE END GARAGE (MONTROSE) LIMITED (REGISTERED NUMBER: SC380714)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 30,000
Tangible assets 5 126,360 138,740
156,360 168,740

CURRENT ASSETS
Stocks 13,250 3,000
Debtors 6 8,391 3,194
Investments 7 40,292 40,292
Cash at bank and in hand 19,205 34,781
81,138 81,267
CREDITORS
Amounts falling due within one year 8 82,071 83,162
NET CURRENT LIABILITIES (933 ) (1,895 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,427

166,845

CREDITORS
Amounts falling due after more than one
year

9

(15,304

)

(20,993

)

PROVISIONS FOR LIABILITIES 10 (1,329 ) (3,403 )
NET ASSETS 138,794 142,449

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 138,694 142,349
SHAREHOLDERS' FUNDS 138,794 142,449

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

BRIDGE END GARAGE (MONTROSE) LIMITED (REGISTERED NUMBER: SC380714)

Balance Sheet - continued
31 August 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 September 2024 and were signed by:





D Fairweather - Director


BRIDGE END GARAGE (MONTROSE) LIMITED (REGISTERED NUMBER: SC380714)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Bridge End Garage (Montrose) 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 discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is not being amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 33% on cost and 25% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Profit & Loss Account, 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.


BRIDGE END GARAGE (MONTROSE) LIMITED (REGISTERED NUMBER: SC380714)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material 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.

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 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 30,000
NET BOOK VALUE
At 31 August 2024 30,000
At 31 August 2023 30,000

BRIDGE END GARAGE (MONTROSE) LIMITED (REGISTERED NUMBER: SC380714)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 120,000 17,159 46,000 1,923 185,082
Additions - 1,208 - - 1,208
At 31 August 2024 120,000 18,367 46,000 1,923 186,290
DEPRECIATION
At 1 September 2023 - 12,734 31,781 1,827 46,342
Charge for year - 2,385 11,179 24 13,588
At 31 August 2024 - 15,119 42,960 1,851 59,930
NET BOOK VALUE
At 31 August 2024 120,000 3,248 3,040 72 126,360
At 31 August 2023 120,000 4,425 14,219 96 138,740

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 44,500
DEPRECIATION
At 1 September 2023 30,500
Charge for year 11,125
At 31 August 2024 41,625
NET BOOK VALUE
At 31 August 2024 2,875
At 31 August 2023 14,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,244 3,021
Other debtors 5,147 173
8,391 3,194

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 40,292 40,292

BRIDGE END GARAGE (MONTROSE) LIMITED (REGISTERED NUMBER: SC380714)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,167 10,000
Hire purchase contracts 7,677 20,590
Trade creditors 18,678 11,074
Taxation and social security 44,439 37,055
Other creditors 2,110 4,443
82,071 83,162

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,166 18,333
Hire purchase contracts 6,138 2,660
15,304 20,993

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,329 3,403

Deferred
tax
£   
Balance at 1 September 2023 3,403
Provided during year (2,074 )
Balance at 31 August 2024 1,329

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £44,708 (2023 - £38,048) were paid to the director .

The company was under the control of D Fairweather throughout the current and previous year.

During the year the company repaid the director £2,423 and further advanced £5,000. As at 31 August 2023 included within other debtors (other creditors) is a balance outstanding due to the the company (director) of £5,000 (2023 - (£2,423)). No interest has been paid on this balance, this is in line with HMRC guidelines.