Eastmains Garage Limited
Registered number: SC499032
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,998 21,997
Current assets
Debtors 4 9,458 64,514
Cash at bank and in hand 85 6,938
9,543 71,452
Creditors: amounts falling due within one year 5 (141,361) (99,275)
Net current liabilities (131,818) (27,823)
Total assets less current liabilities (113,820) (5,826)
Creditors: amounts falling due after more than one year 6 (571) (8,367)
Net liabilities (114,391) (14,193)
Capital and reserves
Called up share capital 100 100
Profit and loss account (114,491) (14,293)
Shareholders' funds (114,391) (14,193)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J.Strachan
Director
Approved by the board on 27 November 2024
Eastmains Garage Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 11,000 32,552 19,995 63,547
At 29 February 2024 11,000 32,552 19,995 63,547
Depreciation
At 1 March 2023 - 33,552 7,998 41,550
Charge for the year - (1,000) 4,999 3,999
At 29 February 2024 - 32,552 12,997 45,549
Net book value
At 29 February 2024 11,000 - 6,998 17,998
At 28 February 2023 11,000 (1,000) 11,997 21,997
4 Debtors 2024 2023
£ £
Trade debtors 9,458 64,004
Other debtors - 510
9,458 64,514
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 52,820 28,764
Corporation tax 45,440 44,148
Other taxes and social security costs 15,631 -
Other creditors 27,470 26,363
141,361 99,275
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 557
Obligations under finance lease and hire purchase contracts 571 7,810
571 8,367
7 Other information
Eastmains Garage Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
30 Binghill Road West
Milltimber
Aberdeen
AB13 0JB
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