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REGISTERED NUMBER: SC442664 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

JG Wishart Motor Engineers Limited

JG Wishart Motor Engineers Limited (Registered number: SC442664)






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


JG Wishart Motor Engineers Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J G Wishart
K J Wishart





SECRETARY: J G Wishart





REGISTERED OFFICE: 12 Chanonry Street
Chanonry Industrial Estate
Elgin
Moray
IV30 6NF





REGISTERED NUMBER: SC442664 (Scotland)





ACCOUNTANTS: P bookkeeping Services
49 Linn Crescent
Buckie
Moray
AB56 1NA

JG Wishart Motor Engineers Limited (Registered number: SC442664)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 159,546 129,924

CURRENT ASSETS
Stocks 2,814 1,623
Debtors 5 29,346 34,713
Cash at bank and in hand 65,716 74,886
97,876 111,222
CREDITORS
Amounts falling due within one year 6 86,093 78,734
NET CURRENT ASSETS 11,783 32,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,329

162,412

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 171,229 162,312
171,329 162,412

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.

JG Wishart Motor Engineers Limited (Registered number: SC442664)

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 J G Wishart the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





J G Wishart - Director


JG Wishart Motor Engineers Limited (Registered number: SC442664)

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

1. STATUTORY INFORMATION

JG Wishart Motor Engineers 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.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

JG Wishart Motor Engineers Limited (Registered number: SC442664)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 82,941 143,851 226,792
Additions - 55,157 55,157
At 31 March 2024 82,941 199,008 281,949
DEPRECIATION
At 1 April 2023 - 96,868 96,868
Charge for year - 25,535 25,535
At 31 March 2024 - 122,403 122,403
NET BOOK VALUE
At 31 March 2024 82,941 76,605 159,546
At 31 March 2023 82,941 46,983 129,924

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 25,946 34,713
Other debtors 3,400 -
29,346 34,713

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 45,791 23,684
Trade creditors - (2 )
Taxation and social security 8,850 23,309
Other creditors 31,452 31,743
86,093 78,734