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REGISTERED NUMBER: SC726780 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Tuga Garage Limited

Tuga Garage Limited (Registered number: SC726780)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Tuga Garage Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: B Da Silva Costa





SECRETARY:





REGISTERED OFFICE: 50 Henderland Road
Glasgow
G61 1JG





REGISTERED NUMBER: SC726780 (Scotland)





ACCOUNTANTS: Louise Taylor
13 Whittingehame Drive
Glasgow
G12 0XT

Tuga Garage Limited (Registered number: SC726780)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,523 19,752

CURRENT ASSETS
Stocks 1,895 1,574
Debtors 5 9,236 11,136
Cash at bank and in hand 50,612 72,465
61,743 85,175
CREDITORS
Amounts falling due within one year 6 81,071 94,890
NET CURRENT LIABILITIES (19,328 ) (9,715 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,195

10,037

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 16,194 10,036
16,195 10,037

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 director acknowledges his 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.

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 director and authorised for issue on 23 January 2025 and were signed by:





B Da Silva Costa - Director


Tuga Garage Limited (Registered number: SC726780)

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

1. STATUTORY INFORMATION

Tuga Garage 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 are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 2 (2023 - 3 ) .

Tuga Garage Limited (Registered number: SC726780)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 2,205 22,356 24,561
Additions - 27,543 27,543
At 31 March 2024 2,205 49,899 52,104
DEPRECIATION
At 1 April 2023 347 4,462 4,809
Charge for year 411 11,361 11,772
At 31 March 2024 758 15,823 16,581
NET BOOK VALUE
At 31 March 2024 1,447 34,076 35,523
At 31 March 2023 1,858 17,894 19,752

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,168 7,188
Other debtors 5,068 3,948
9,236 11,136

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 14,500 19,369
Trade creditors 26,568 25,484
Taxation and social security 37,548 26,314
Other creditors 2,455 23,723
81,071 94,890