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REGISTERED NUMBER: SC464275 (Scotland)










Financial Statements

For The Year Ended 31 March 2024

for

AJH Garage Services Ltd.

AJH Garage Services Ltd. (Registered number: SC464275)

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


AJH Garage Services Ltd.

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Mr Archibald Johnstone
Mrs Edith Johnstone





REGISTERED OFFICE: 16 Inchmuir Road
Whitehill Industrial Estate
Bathgate
West Lothian
EH48 2EP





REGISTERED NUMBER: SC464275 (Scotland)





ACCOUNTANTS: Cahill Jack Associates Limited
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

AJH Garage Services Ltd. (Registered number: SC464275)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 374,549 360,496

CURRENT ASSETS
Stocks 3,015 2,500
Debtors 5 85,772 84,218
Cash at bank 136,792 146,964
225,579 233,682
CREDITORS
Amounts falling due within one year 6 184,111 208,927
NET CURRENT ASSETS 41,468 24,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

416,017

385,251

CREDITORS
Amounts falling due after more than one
year

7

(66,110

)

(91,634

)

PROVISIONS FOR LIABILITIES (27,940 ) (23,135 )
NET ASSETS 321,967 270,482

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 320,967 269,482
SHAREHOLDERS' FUNDS 321,967 270,482

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 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.

AJH Garage Services Ltd. (Registered number: SC464275)

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 Board of Directors and authorised for issue on 7 November 2024 and were signed on its behalf by:





Mr Archibald Johnstone - Director


AJH Garage Services Ltd. (Registered number: SC464275)

Notes to the Financial Statements
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

AJH Garage Services Ltd. 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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are described below:

Estimated useful lives and residual values of fixed assets
As described under the Tangible Fixed Asset heading of this accounting policies note, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as applicable. The reviews take into account estimated useful lives used by other companies operating within the same sector and actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has signed for delivery of the goods.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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 etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and 2% 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.

AJH Garage Services Ltd. (Registered number: SC464275)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans, and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

AJH Garage Services Ltd. (Registered number: SC464275)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 614,993
Additions 86,850
Disposals (75,583 )
At 31 March 2024 626,260
DEPRECIATION
At 1 April 2023 254,497
Charge for year 45,277
Eliminated on disposal (48,063 )
At 31 March 2024 251,711
NET BOOK VALUE
At 31 March 2024 374,549
At 31 March 2023 360,496

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 89,577
Additions 78,995
Disposals (62,990 )
Transfer to ownership (26,587 )
At 31 March 2024 78,995
DEPRECIATION
At 1 April 2023 51,787
Charge for year 19,749
Eliminated on disposal (36,416 )
Transfer to ownership (15,371 )
At 31 March 2024 19,749
NET BOOK VALUE
At 31 March 2024 59,246
At 31 March 2023 37,790

AJH Garage Services Ltd. (Registered number: SC464275)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 82,486 81,385
Other debtors 3,286 2,833
85,772 84,218

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 46,293 64,017
Hire purchase contracts 12,072 20,306
Trade creditors 21,644 31,616
Amounts owed to group undertakings 21,962 21,962
Taxation and social security 47,491 37,139
Other creditors 34,649 33,887
184,111 208,927

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 42,973 88,443
Hire purchase contracts 23,137 3,191
66,110 91,634

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 89,266 152,460
Hire purchase contracts 35,209 23,497
124,475 175,957

Obligations under hire purchase or finance lease agreements are secured against the assets to which they relate.

The EFG bank loan is 75% secured by the Enterprise Finance Guarantee and also by a personal guarantee given by the director, Mr Archibald Johnstone. The Bounce Back Loan is guaranteed by the UK Government. The Recovery Loan is partially guaranteed by the UK Government. HSBC Bank plc also hold a floating charge over the company's assets.

AJH Garage Services Ltd. (Registered number: SC464275)

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


9. RELATED PARTY DISCLOSURES

A. Johnstone Haulage Ltd was a related party during the year by virtue of being under the common control of the directors. As at 31st March 2024 the amount due by the company to A. Johnstone Haulage Ltd amounted to £21,962 (2023 - £21,962). This loan is interest free and repayable on demand.

During the year, the company paid management fees of £20,000 (2023 - £80,000) and electricity charges of £26,000 (2023 - £nil) to A. Johnstone Haulage Ltd.

The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.