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REGISTERED NUMBER: SC036734 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Tollcross Garage (1961) Limited

Tollcross Garage (1961) Limited (Registered number: SC036734)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tollcross Garage (1961) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: L R Pryor
D J M Pryor





SECRETARY:





REGISTERED OFFICE: Woodbank
174 Stonelaw Road
RUTHERGLEN
G73 3PB





REGISTERED NUMBER: SC036734 (Scotland)





ACCOUNTANTS: AMS Chartered Accountants
Unit 23
St James Avenue
EAST KILBRIDE
Lanarkshire
G74 5QD

Tollcross Garage (1961) Limited (Registered number: SC036734)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,877 72,397

CURRENT ASSETS
Stocks 152,362 235,917
Debtors 5 103,791 86,463
Cash at bank 499,095 438,096
755,248 760,476
CREDITORS
Amounts falling due within one year 6 66,699 75,425
NET CURRENT ASSETS 688,549 685,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

760,426

757,448

CREDITORS
Amounts falling due after more than one
year

7

5,833

15,833
NET ASSETS 754,593 741,615

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 754,493 741,515
754,593 741,615

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

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

Tollcross Garage (1961) Limited (Registered number: SC036734)

Balance Sheet - continued
31 October 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 19 December 2024 and were signed on its behalf by:





D J M Pryor - Director


Tollcross Garage (1961) Limited (Registered number: SC036734)

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

1. STATUTORY INFORMATION

Tollcross Garage (1961) 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.
Land and buildings - not provided
Plant and machinery etc - 33% 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.

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.

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 - 2 ) .

Tollcross Garage (1961) Limited (Registered number: SC036734)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 70,820 25,265 96,085
DEPRECIATION
At 1 November 2023 - 23,688 23,688
Charge for year - 520 520
At 31 October 2024 - 24,208 24,208
NET BOOK VALUE
At 31 October 2024 70,820 1,057 71,877
At 31 October 2023 70,820 1,577 72,397

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 15,650 44,096
Other debtors 88,141 42,367
103,791 86,463

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 6,201 6,200
Taxation and social security 45,814 54,084
Other creditors 4,684 5,141
66,699 75,425

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 5,833 15,833