Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3182023-02-01falseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.6truetruefalse SC218664 2023-02-01 2024-01-31 SC218664 2022-02-01 2023-01-31 SC218664 2024-01-31 SC218664 2023-01-31 SC218664 c:Director1 2023-02-01 2024-01-31 SC218664 c:Director2 2023-02-01 2024-01-31 SC218664 c:RegisteredOffice 2023-02-01 2024-01-31 SC218664 d:PlantMachinery 2023-02-01 2024-01-31 SC218664 d:PlantMachinery 2024-01-31 SC218664 d:PlantMachinery 2023-01-31 SC218664 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC218664 d:MotorVehicles 2023-02-01 2024-01-31 SC218664 d:MotorVehicles 2024-01-31 SC218664 d:MotorVehicles 2023-01-31 SC218664 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC218664 d:OfficeEquipment 2023-02-01 2024-01-31 SC218664 d:OfficeEquipment 2024-01-31 SC218664 d:OfficeEquipment 2023-01-31 SC218664 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC218664 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC218664 d:CurrentFinancialInstruments 2024-01-31 SC218664 d:CurrentFinancialInstruments 2023-01-31 SC218664 d:Non-currentFinancialInstruments 2024-01-31 SC218664 d:Non-currentFinancialInstruments 2023-01-31 SC218664 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 SC218664 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 SC218664 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 SC218664 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 SC218664 d:ShareCapital 2024-01-31 SC218664 d:ShareCapital 2023-01-31 SC218664 d:RetainedEarningsAccumulatedLosses 2024-01-31 SC218664 d:RetainedEarningsAccumulatedLosses 2023-01-31 SC218664 c:OrdinaryShareClass1 2023-02-01 2024-01-31 SC218664 c:OrdinaryShareClass1 2024-01-31 SC218664 c:OrdinaryShareClass1 2023-01-31 SC218664 c:FRS102 2023-02-01 2024-01-31 SC218664 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC218664 c:FullAccounts 2023-02-01 2024-01-31 SC218664 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC218664 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC218664










ALFORD GARAGE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

 
ALFORD GARAGE LIMITED
 

COMPANY INFORMATION


Directors
Mr J T Slater 
Ms L Dryburgh 




Registered number
SC218664



Registered office
7a Alford Avenue

Kirkcaldy

Fife

KY2 6EU




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
ALFORD GARAGE LIMITED
REGISTERED NUMBER: SC218664

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
£
£

Fixed assets
  

Tangible Fixed Assets
 4 
46,673
41,665

  
46,673
41,665

Current assets
  

Stocks
  
5,000
5,000

Debtors: amounts falling due within one year
 5 
18,374
8,853

Bank and cash balances
  
28,455
31,556

  
51,829
45,409

Creditors: amounts falling due within one year
 6 
(67,391)
(36,749)

Net current (liabilities)/assets
  
 
 
(15,562)
 
 
8,660

Total assets less current liabilities
  
31,111
50,325

Creditors: amounts falling due after more than one year
 7 
(24,443)
(33,422)

Provisions for liabilities
  

Deferred tax
  
(6,587)
(5,348)

  
 
 
(6,587)
 
 
(5,348)

Net assets
  
81
11,555


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
79
11,553

  
81
11,555


Page 1

 
ALFORD GARAGE LIMITED
REGISTERED NUMBER: SC218664

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr J T Slater
Director

Date: 22 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ALFORD GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The company is limited by shares and incorporated in Scotland. The address of the registered office is 7a Alford Avenue, Kirkcaldy, Fife, KY2 6EU.
The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ALFORD GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ALFORD GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 6)

Page 5

 
ALFORD GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
5,000
41,201
1,169
47,370


Additions
15,958
-
-
15,958



At 31 January 2024

20,958
41,201
1,169
63,328



Depreciation


At 1 February 2023
1,200
4,088
417
5,705


Charge for the year on owned assets
1,484
9,278
188
10,950



At 31 January 2024

2,684
13,366
605
16,655



Net book value



At 31 January 2024
18,274
27,835
564
46,673



At 31 January 2023
3,800
37,113
752
41,665


5.


Debtors

2024
2023
£
£


Trade debtors
4,664
2,353

Other debtors
12,410
6,500

Prepayments and accrued income
1,300
-

18,374
8,853


Included within other debtors is a loan of £5,910 (2023 - £6 due to) due from a director. The loan was repaid on 20 May 2024.

Page 6

 
ALFORD GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,393
3,303

Trade creditors
45,699
18,504

Other taxation and social security
10,070
2,584

Obligations under finance lease and hire purchase contracts
6,389
6,825

Other creditors
-
3,693

Accruals and deferred income
1,840
1,840

67,391
36,749


Obligations under finance lease and hire purchase contracts of £6,389 (2023 - £6,825) are secured against the relevant assets.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,354
10,747

Net obligations under finance leases and hire purchase contracts
17,089
22,675

24,443
33,422


Obligations under finanse leases and hire purchase contracts of £17,089 (2023 - £22,675) are secured against the relevant assets.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



Page 7