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CREAGORRY MOTORS LIMITED

Registered Number
SC238879
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2024

CREAGORRY MOTORS LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

MACDONALD, Effie
MACDONALD, George Neil
MACDONALD, Katherine Anne
MACDONALD, Neil Lachlan

Company Secretary

MACDONALD, Effie

Registered Address

The Garage
Balivanich
HS7 5LL

Registered Number

SC238879 (Scotland)
CREAGORRY MOTORS LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3938,278698,678
938,278698,678
Current assets
Stocks48,10044,955
Debtors4631,266569,797
Cash at bank and on hand384,409448,162
1,063,7751,062,914
Creditors amounts falling due within one year5(369,702)(470,753)
Net current assets (liabilities)694,073592,161
Total assets less current liabilities1,632,3511,290,839
Creditors amounts falling due after one year(33,171)-
Net assets1,599,1801,290,839
Capital and reserves
Profit and loss account1,599,1801,290,839
Shareholders' funds1,599,1801,290,839
The financial statements were approved and authorised for issue by the Board of Directors on 16 January 2025, and are signed on its behalf by:
MACDONALD, Neil Lachlan
Director
Registered Company No. SC238879
CREAGORRY MOTORS LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from 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. 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 work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1823
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 231,643,946
Additions436,680
Disposals(86,722)
At 31 October 241,993,903
Depreciation and impairment
At 01 November 23945,268
Charge for year192,907
On disposals(82,549)
At 31 October 241,055,625
Net book value
At 31 October 24938,278
At 31 October 23698,678
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables525,200372,823
Amounts owed by associates and joint ventures / participating interests106,066196,974
Total631,266569,797
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables177,553195,159
Amounts owed to related parties64,770152,615
Taxation and social security109,472115,155
Finance lease and HP contracts6,4382,823
Accrued liabilities and deferred income11,4695,001
Total369,702470,753
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts33,171-