2023-06-01 SC398991 2024-05-31 SC398991 2023-06-01 2024-05-31 SC398991 2023-05-31 SC398991 2022-06-01 2023-05-31 SC398991 uk-core:WithinOneYear 2023-05-31 SC398991 uk-core:WithinOneYear 2024-05-31 SC398991 uk-core:AfterOneYear 2023-05-31 SC398991 uk-core:AfterOneYear 2024-05-31 SC398991 uk-core:ShareCapital 2024-05-31 SC398991 uk-core:ShareCapital 2023-05-31 SC398991 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC398991 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 SC398991 uk-bus:Director1 2023-06-01 2024-05-31 SC398991 uk-core:CommercialMotorVehicles 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure SC398991 uk-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC398991 uk-bus:FRS102 2023-06-01 2024-05-31 SC398991 uk-bus:FilletedAccounts 2023-06-01 2024-05-31 SC398991 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31
Elgin Motor Works Ltd
Registered Number:SC398991
For the year ended 31 May 2024
Scotland
Unaudited Financial Statements
2
For the year ended 31 May 2024
Elgin Motor Works Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
SC398991
As at 31 May 2024
Elgin Motor Works Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
9,856
12,320
2
9,856
12,320
Current assets
Trade and other receivables
-
5,178
3
174,473
Cash and cash equivalents
220,138
225,316
174,473
Trade and other payables: amounts falling due within one
year
(121,758)
(79,560)
4
52,715
145,756
Net current assets
Total assets less current liabilities
155,612
65,035
Trade and other payables: amounts falling due after more
than one year
(68,380)
(69,295)
5
86,317
Net assets/liabilities
(3,345)
Capital and reserves
Called up share capital
100
100
Retained earnings
86,217
(3,445)
86,317
(3,345)
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Robert J Morgan Director
These financial statements were approved and authorised for issue by the Board on 13 January 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2024
Elgin Motor Works Ltd
Notes to the Financial Statements
Statutory Information
Elgin Motor Works Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number
SC398991.
Registered address:
The Old Fire Station
Castle Road
Dunfermline
KY11 2AU
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 May 2024
Elgin Motor Works Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Motor vehicles
£
Cost or
valuation
At 01 June 2023
16,000
At 31 May 2024
16,000
Provision for depreciation and impairment
At 01 June 2023
3,680
Charge for year
2,464
At 31 May 2024
6,144
At 31 May 2024
Net book value
9,856
At 31 May 2023
12,320
3. Trade and other receivables
2023
2024
£
£
Trade debtors
5,178
-
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Taxation and social security
45,593
31,323
Other creditors
33,967
90,435
79,560
121,758
5. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Other creditors
69,295
68,380
6. Average number of persons employed
During the year the average number of employees was 0 (2023 : 6)
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