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REGISTERED NUMBER: SC564015 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Greendale Car Sales Ltd

Greendale Car Sales Ltd (Registered number: SC564015)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Greendale Car Sales Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: N B Mactaggart
Mrs A Mactaggart





REGISTERED OFFICE: Site 2 Galalaw Business Park
Hawick
TD9 8PZ





REGISTERED NUMBER: SC564015 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Greendale Car Sales Ltd (Registered number: SC564015)

Statement of Financial Position
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 3,000 4,000
Tangible assets 4 203,135 126,979
206,135 130,979

CURRENT ASSETS
Stocks 607,507 595,140
Debtors 5 148,638 58,116
Cash at bank 72,986 94,861
829,131 748,117
CREDITORS
Amounts falling due within one year 6 693,592 508,124
NET CURRENT ASSETS 135,539 239,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

341,674

370,972

CREDITORS
Amounts falling due after more than one
year

7

(83,053

)

(151,726

)

PROVISIONS FOR LIABILITIES (4,000 ) (3,000 )
NET ASSETS 254,621 216,246

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 254,521 216,146
254,621 216,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Greendale Car Sales Ltd (Registered number: SC564015)

Statement of Financial Position - continued
30 April 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 Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:





N B Mactaggart - Director


Greendale Car Sales Ltd (Registered number: SC564015)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. 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 2017, is being amortised evenly over its estimated useful life of ten years.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% 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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Greendale Car Sales Ltd (Registered number: SC564015)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 10,000
AMORTISATION
At 1 May 2023 6,000
Charge for year 1,000
At 30 April 2024 7,000
NET BOOK VALUE
At 30 April 2024 3,000
At 30 April 2023 4,000

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 77,239 78,026 155,265
Additions 76,032 12,980 89,012
At 30 April 2024 153,271 91,006 244,277
DEPRECIATION
At 1 May 2023 - 28,286 28,286
Charge for year - 12,856 12,856
At 30 April 2024 - 41,142 41,142
NET BOOK VALUE
At 30 April 2024 153,271 49,864 203,135
At 30 April 2023 77,239 49,740 126,979

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 141,853 55,057
Other debtors 6,785 3,059
148,638 58,116

Greendale Car Sales Ltd (Registered number: SC564015)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans and overdrafts 10,000 19,943
Hire purchase contracts 9,700 9,700
Trade creditors 55,149 36,634
Taxation and social security 19,179 43,204
Other creditors 599,564 398,643
693,592 508,124

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/24 30/4/23
£    £   
Bank loans 10,833 21,667
Hire purchase contracts - 9,700
Other creditors 72,220 120,359
83,053 151,726