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REGISTERED NUMBER: SC040866 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

ABERDEEN MOTOR COMPANY LIMITED

ABERDEEN MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC040866)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABERDEEN MOTOR COMPANY LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M Murray





REGISTERED OFFICE: 52 Murray Terrace
Aberdeen
AB11 7SB





REGISTERED NUMBER: SC040866 (Scotland)






ABERDEEN MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC040866)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,830 7,040
Investment property 5 680,000 680,000
728,830 687,040

CURRENT ASSETS
Debtors 6 209 173
Cash at bank and in hand 159,623 19,294
159,832 19,467
CREDITORS
Amounts falling due within one year 7 129,352 74,863
NET CURRENT ASSETS/(LIABILITIES) 30,480 (55,396 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

759,310

631,644

CREDITORS
Amounts falling due after more than one
year

8

(46,446

)

(22,182

)

PROVISIONS FOR LIABILITIES (11,653 ) -
NET ASSETS 701,211 609,462

CAPITAL AND RESERVES
Called up share capital 51 51
Revaluation reserve 10 284,726 284,726
Capital redemption reserve 49 49
Retained earnings 416,385 324,636
701,211 609,462

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

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

ABERDEEN MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC040866)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2024 and were signed by:





M Murray - Director


ABERDEEN MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC040866)

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


1. STATUTORY INFORMATION

Aberdeen Motor Company 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ABERDEEN MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC040866)

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


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 3,750 74,226 50,018
Additions - - -
At 31 March 2024 3,750 74,226 50,018
DEPRECIATION
At 1 April 2023 3,750 70,337 47,766
Charge for year - 583 338
At 31 March 2024 3,750 70,920 48,104
NET BOOK VALUE
At 31 March 2024 - 3,306 1,914
At 31 March 2023 - 3,889 2,252

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 - 1,349 129,343
Additions 46,555 - 46,555
At 31 March 2024 46,555 1,349 175,898
DEPRECIATION
At 1 April 2023 - 450 122,303
Charge for year 3,395 449 4,765
At 31 March 2024 3,395 899 127,068
NET BOOK VALUE
At 31 March 2024 43,160 450 48,830
At 31 March 2023 - 899 7,040

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 680,000
NET BOOK VALUE
At 31 March 2024 680,000
At 31 March 2023 680,000

ABERDEEN MOTOR COMPANY LIMITED (REGISTERED NUMBER: SC040866)

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


5. INVESTMENT PROPERTY - continued

The properties were revalued at 31 March 2021 by the director. The surplus on revaluation has been carried to the revaluation reserve. The director is of the opinion that this valuation remains valid at 31 March 2024. The original cost of the properties is £395,274.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 209 173

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,833 5,833
Hire purchase contracts 4,621 -
Taxation and social security 18,827 8,393
Other creditors 100,071 60,637
129,352 74,863

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,167 22,182
Hire purchase contracts 31,279 -
46,446 22,182

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 21,000 28,015

The bank loan is secured by a standard security over the company property and a bond and floating charge over the assets.

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 284,726

11. ULTIMATE CONTROLLING PARTY

The controlling party is M Murray.