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REGISTERED NUMBER: SC271902 (Scotland)















HYNDLAND MOTOR COMPANY LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024






HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HYNDLAND MOTOR COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: M P Lyden





REGISTERED OFFICE: 11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT





REGISTERED NUMBER: SC271902 (Scotland)





ACCOUNTANTS: JRD Partnership Ltd
Chartered Accountants
11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT

HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 204,583 219,078

CURRENT ASSETS
Stocks 57,232 106,519
Debtors 5 71,310 91,157
Cash at bank 33,966 47,715
162,508 245,391
CREDITORS
Amounts falling due within one year 6 156,874 185,798
NET CURRENT ASSETS 5,634 59,593
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,217

278,671

CREDITORS
Amounts falling due after more than one year 7 130,962 152,963
NET ASSETS 79,255 125,708

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 79,253 125,706
SHAREHOLDERS' FUNDS 79,255 125,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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.

HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

BALANCE SHEET - continued
31ST JANUARY 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 the director and authorised for issue on 24th January 2025 and were signed by:





M P Lyden - Director


HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

Hyndland Motor Company Ltd 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.

The financial statements have been prepared on a going concern basis, notwithstanding the deficiency in both net and current assets, as this is entirely funded by the director who will continue to support the company for the foreseeable future.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 25% on cost
Plant and machinery etc - 20% on cost and 15% on reducing balance

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2023 - 6 ) .

HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st February 2023
and 31st January 2024 201,450 61,803 263,253
DEPRECIATION
At 1st February 2023 16,116 28,059 44,175
Charge for year 8,058 6,437 14,495
At 31st January 2024 24,174 34,496 58,670
NET BOOK VALUE
At 31st January 2024 177,276 27,307 204,583
At 31st January 2023 185,334 33,744 219,078

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st February 2023
and 31st January 2024 29,000
DEPRECIATION
At 1st February 2023 7,492
Charge for year 4,302
At 31st January 2024 11,794
NET BOOK VALUE
At 31st January 2024 17,206
At 31st January 2023 21,508

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,457 67,330
Other debtors 46,853 23,827
71,310 91,157

HYNDLAND MOTOR COMPANY LTD (REGISTERED NUMBER: SC271902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,825 16,825
Hire purchase contracts 4,255 3,672
Trade creditors 39,668 67,793
Taxation and social security 6,338 14,383
Other creditors 89,788 83,125
156,874 185,798

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 122,719 136,512
Hire purchase contracts 8,243 16,451
130,962 152,963

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 105,894 99,012

8. RELATED PARTY DISCLOSURES

Other debtors includes a balance of £15,326 due to Hyndland Motor Services (East Kilbride) Ltd, a company controlled by the director.

Other creditors includes a balance of £62,546 due to M P Lyden, director. There are no formal repayment terms and no interest has been charged on this loan.

During the year rent of £14,583 was charged to Hyndland Motor Services (East Kilbride) Ltd, a company controlled by the director. Turnover includes £25,000 charged to this company.