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REGISTERED NUMBER: SC627534 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

THE AUTO LOUNGE LIMITED

THE AUTO LOUNGE LIMITED (REGISTERED NUMBER: SC627534)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE AUTO LOUNGE LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: G J Davidson
C B Handley





REGISTERED OFFICE: Infinity Partnership
5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC627534 (Scotland)






THE AUTO LOUNGE LIMITED (REGISTERED NUMBER: SC627534)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 241,540 206,216
Investments 5 624 990
242,164 207,206

CURRENT ASSETS
Stocks 57,655 57,202
Debtors 6 29,249 88,408
Cash at bank 299,371 150,683
386,275 296,293
CREDITORS
Amounts falling due within one year 7 436,512 318,293
NET CURRENT LIABILITIES (50,237 ) (22,000 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,927

185,206

CREDITORS
Amounts falling due after more than one year 8 (18,482 ) (9,896 )

PROVISIONS FOR LIABILITIES (7,829 ) (5,902 )
NET ASSETS 165,616 169,408

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 165,516 169,308
165,616 169,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 AUTO LOUNGE LIMITED (REGISTERED NUMBER: SC627534)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





G J Davidson - Director


THE AUTO LOUNGE LIMITED (REGISTERED NUMBER: SC627534)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

The Auto Lounge 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 as modified by the revaluation of certain assets.

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.
Improvements to property - 5% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

THE AUTO LOUNGE LIMITED (REGISTERED NUMBER: SC627534)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

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 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 167,344 19,026 35,764 21,500 243,634
Additions 46,055 26,245 494 - 72,794
At 30 April 2024 213,399 45,271 36,258 21,500 316,428
DEPRECIATION
At 1 May 2023 263 12,318 17,074 7,763 37,418
Charge for year 8,530 11,444 10,329 7,167 37,470
At 30 April 2024 8,793 23,762 27,403 14,930 74,888
NET BOOK VALUE
At 30 April 2024 204,606 21,509 8,855 6,570 241,540
At 30 April 2023 167,081 6,708 18,690 13,737 206,216

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 May 2023 990
Revaluations (366 )
At 30 April 2024 624
NET BOOK VALUE
At 30 April 2024 624
At 30 April 2023 990


THE AUTO LOUNGE LIMITED (REGISTERED NUMBER: SC627534)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,101 84,135
Other debtors 2,148 4,273
29,249 88,408

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 13,171 4,750
Trade creditors - 10,741
Taxation and social security 32,256 19,751
Other creditors 391,085 283,051
436,512 318,293

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 18,482 9,896

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.