Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-318true2023-04-01falseNo description of principal activity10trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC235937 2023-04-01 2024-03-31 SC235937 2022-04-01 2023-03-31 SC235937 2024-03-31 SC235937 2023-03-31 SC235937 c:CompanySecretary1 2023-04-01 2024-03-31 SC235937 c:Director1 2023-04-01 2024-03-31 SC235937 c:Director2 2023-04-01 2024-03-31 SC235937 c:Director3 2023-04-01 2024-03-31 SC235937 c:RegisteredOffice 2023-04-01 2024-03-31 SC235937 d:Buildings 2023-04-01 2024-03-31 SC235937 d:Buildings 2024-03-31 SC235937 d:Buildings 2023-03-31 SC235937 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC235937 d:PlantMachinery 2023-04-01 2024-03-31 SC235937 d:PlantMachinery 2024-03-31 SC235937 d:PlantMachinery 2023-03-31 SC235937 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC235937 d:MotorVehicles 2023-04-01 2024-03-31 SC235937 d:MotorVehicles 2024-03-31 SC235937 d:MotorVehicles 2023-03-31 SC235937 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC235937 d:FurnitureFittings 2023-04-01 2024-03-31 SC235937 d:FurnitureFittings 2024-03-31 SC235937 d:FurnitureFittings 2023-03-31 SC235937 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC235937 d:OfficeEquipment 2023-04-01 2024-03-31 SC235937 d:OfficeEquipment 2024-03-31 SC235937 d:OfficeEquipment 2023-03-31 SC235937 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC235937 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC235937 d:CurrentFinancialInstruments 2024-03-31 SC235937 d:CurrentFinancialInstruments 2023-03-31 SC235937 d:Non-currentFinancialInstruments 2024-03-31 SC235937 d:Non-currentFinancialInstruments 2023-03-31 SC235937 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC235937 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC235937 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC235937 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC235937 d:ShareCapital 2024-03-31 SC235937 d:ShareCapital 2023-03-31 SC235937 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC235937 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC235937 c:FRS102 2023-04-01 2024-03-31 SC235937 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC235937 c:FullAccounts 2023-04-01 2024-03-31 SC235937 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC235937 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: SC235937










BILL STEPHEN MOTORS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
BILL STEPHEN MOTORS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr W Stephen 
Mrs K Stephen 
Mr G Stephen 




COMPANY SECRETARY
Mr G Stephen



REGISTERED NUMBER
SC235937



REGISTERED OFFICE
Golfview
Cookston Road

Brechin

Angus

DD9 7QU




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
BILL STEPHEN MOTORS LIMITED
REGISTERED NUMBER: SC235937

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
771,737
818,715

  
771,737
818,715

Current assets
  

Stocks
  
20,650
6,225

Debtors: amounts falling due within one year
 5 
43,335
49,126

Cash at bank and in hand
  
257,691
81,097

  
321,676
136,448

Creditors: amounts falling due within one year
 6 
(626,507)
(509,852)

Net current liabilities
  
 
 
(304,831)
 
 
(373,404)

Total assets less current liabilities
  
466,906
445,311

Creditors: amounts falling due after more than one year
 7 
(33,390)
(84,040)

Provisions for liabilities
  

Deferred tax
  
(89,940)
(79,262)

  
 
 
(89,940)
 
 
(79,262)

Net assets
  
343,576
282,009


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
343,476
281,909

  
343,576
282,009


Page 1

 
BILL STEPHEN MOTORS LIMITED
REGISTERED NUMBER: SC235937

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 on 25 November 2024.




Mr W Stephen
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BILL STEPHEN MOTORS LIMITED
 

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

1.


GENERAL INFORMATION

Bill Stephen Motors Limited is a private company, limited by shares, incorporated in Scotland with the registration number SC235937.  The registered office address is Golf View, Cookston Road, Brechin, DD9 7QU.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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

 
BILL STEPHEN MOTORS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

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.

 
2.4

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 income 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.

 
2.5

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

 
BILL STEPHEN MOTORS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.5
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:

Land and property
-
Plant & Machinery
-
20%
Motor Vehicles
-
25%
Fixtures & Fittings
-
25%
Office Equipment
-
25%

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.

 
2.6

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 10 (2023 - 8).

Page 5

 


 
BILL STEPHEN MOTORS LIMITED


 

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


4.


TANGIBLE FIXED ASSETS






Land and property
Plant & Machinery
Motor Vehicles
Fixtures & Fittings
Office Equipment

£
£
£
£
£



Cost or valuation


At 1 April 2023
401,550
42,812
827,309
24,900
2,768


Additions
-
1,400
117,642
-
-


Disposals
-
-
(199,982)
-
-



At 31 March 2024

401,550
44,212
744,969
24,900
2,768



Depreciation


At 1 April 2023
-
20,428
451,493
7,492
1,211


Charge for the year on owned assets
-
4,757
112,318
4,353
389


Disposals
-
-
(155,779)
-
-



At 31 March 2024

-
25,185
408,032
11,845
1,600



Net book value



At 31 March 2024
401,550
19,027
336,937
13,055
1,168



At 31 March 2023
401,550
22,384
375,816
17,408
1,557
Page 6

 
BILL STEPHEN MOTORS LIMITED
 

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

           4.TANGIBLE FIXED ASSETS (CONTINUED)


Total

£



Cost or valuation


At 1 April 2023
1,299,339


Additions
119,042


Disposals
(199,982)



At 31 March 2024

1,218,399



Depreciation


At 1 April 2023
480,624


Charge for the year on owned assets
121,817


Disposals
(155,779)



At 31 March 2024

446,662



Net book value



At 31 March 2024
771,737



At 31 March 2023
818,715


5.


DEBTORS

2024
2023
£
£


Trade debtors
40,748
41,160

Other debtors
2,587
7,966

43,335
49,126


Page 7

 
BILL STEPHEN MOTORS LIMITED
 

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

6.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
92,934
125,943

Other taxation and social security
111,023
20,424

Obligations under finance lease and hire purchase contracts
49,942
62,449

Other creditors
368,608
297,536

Accruals and deferred income
4,000
3,500

626,507
509,852



7.


CREDITORS: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
33,390
84,040

33,390
84,040



Page 8