LANG TOUN MOTORS LTD

Company Registration Number:
SC522041 (Scotland)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

LANG TOUN MOTORS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

LANG TOUN MOTORS LTD

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 14,467 14,629
Total fixed assets: 14,467 14,629
Current assets
Stocks: 19,500 24,000
Debtors:   29,862 12,732
Cash at bank and in hand: 10,485 3,089
Total current assets: 59,847 39,821
Creditors: amounts falling due within one year: 4 (694) (2,638)
Net current assets (liabilities): 59,153 37,183
Total assets less current liabilities: 73,620 51,812
Creditors: amounts falling due after more than one year: 5 (56,546) (39,966)
Total net assets (liabilities): 17,074 11,846
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 17,073 11,845
Shareholders funds: 17,074 11,846

The notes form part of these financial statements

LANG TOUN MOTORS LTD

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 October 2024
and signed on behalf of the board by:

Name: J Sinclair
Status: Director

The notes form part of these financial statements

LANG TOUN MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Depreciation is provided on fixed assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows: Tenant's improvements - Nil Motor vehicles - 25% per annum on a reducing balance basis Equipment - 15% per annum on a reducing balance basis Office equipment - 15% per annum on a reducing balance basis

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

LANG TOUN MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

LANG TOUN MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible Assets

Total
Cost £
At 01 February 2023 46,059
Additions 2,250
At 31 January 2024 48,309
Depreciation
At 01 February 2023 31,430
Charge for year 2,412
At 31 January 2024 33,842
Net book value
At 31 January 2024 14,467
At 31 January 2023 14,629

LANG TOUN MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Creditors: amounts falling due within one year note

Corporation tax £186; Accruals ad deferred income £508; Total £694

LANG TOUN MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due after more than one year note

Other creditors £56,546