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REGISTERED NUMBER: SC731546 (Scotland)















Housby Motors Ltd

Financial Statements For The Year Ended 31 May 2024






Housby Motors Ltd (Registered number: SC731546)






Contents of the Financial Statements
For The Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Housby Motors Ltd

Company Information
For The Year Ended 31 May 2024







DIRECTORS: A M Housby
Mrs I Housby





REGISTERED OFFICE: Oran Mor
Dyke
Forres
Moray
IV36 2TF





REGISTERED NUMBER: SC731546 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Housby Motors Ltd (Registered number: SC731546)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,002 474

CURRENT ASSETS
Stocks 70,100 66,890
Debtors 5 7,299 4,026
Cash at bank and in hand 11,764 39,520
89,163 110,436
CREDITORS
Amounts falling due within one year 6 73,006 94,082
NET CURRENT ASSETS 16,157 16,354
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,159

16,828

PROVISIONS FOR LIABILITIES 7 - 90
NET ASSETS 17,159 16,738

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 17,059 16,638
SHAREHOLDERS' FUNDS 17,159 16,738

Housby Motors Ltd (Registered number: SC731546)

Balance Sheet - continued
31 May 2024


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

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 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 Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:




A M Housby - Director



Mrs I Housby - Director


Housby Motors Ltd (Registered number: SC731546)

Notes to the Financial Statements
For The Year Ended 31 May 2024

1. STATUTORY INFORMATION

Housby Motors 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.

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.
Equipment - 20% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Housby Motors Ltd (Registered number: SC731546)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 June 2023 509
Additions 752
At 31 May 2024 1,261
DEPRECIATION
At 1 June 2023 35
Charge for year 224
At 31 May 2024 259
NET BOOK VALUE
At 31 May 2024 1,002
At 31 May 2023 474

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 3,505 2,315
Other debtors 3,794 1,711
7,299 4,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 61,481 87,979
Taxation and social security - 3,783
Other creditors 11,525 2,320
73,006 94,082

7. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax - 90

Deferred
tax
£   
Balance at 1 June 2023 90
Provided during year (90 )
Balance at 31 May 2024 -

Housby Motors Ltd (Registered number: SC731546)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 June 2023 16,638
Profit for the year 421
At 31 May 2024 17,059

10. RELATED PARTY DISCLOSURES

A M Housby and I Housby

Are directors in the company


Included in other creditors ia an interest free directors loan. There are no repayment terms.

31.5.24 31.5.23
£    £   
Amount due to related party at the balance sheet date 9,140 525

11. ULTIMATE CONTROLLING PARTY

The company was under the joint control of the directors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Housby Motors Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Housby Motors Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Housby Motors Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Housby Motors Ltd and state those matters that we have agreed to state to the Board of Directors of Housby Motors Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Housby Motors Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Housby Motors Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Housby Motors Ltd. You consider that Housby Motors Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Housby Motors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


26 February 2025