Company Registration No. SC302117 (Scotland)
Finlayson Auto's Ltd
Unaudited accounts
for the year ended 30 June 2024
Finlayson Auto's Ltd
Unaudited accounts
Contents
Finlayson Auto's Ltd
Company Information
for the year ended 30 June 2024
Company Number
SC302117 (Scotland)
Registered Office
107 Market Street
Musselburgh
East Lothian
EH21 6PZ
Accountants
GF Accountancy Services Ltd
4 Rowanhill Way
Port Seton
East Lothian
EH32 0SZ
Finlayson Auto's Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
118,507
107,568
Cash at bank and in hand
206,769
219,358
Creditors: amounts falling due within one year
(27,210)
(43,870)
Net current assets
191,940
190,707
Total assets less current liabilities
310,447
298,275
Provisions for liabilities
Deferred tax
(4,459)
(2,999)
Net assets
305,988
295,276
Called up share capital
100
100
Profit and loss account
305,888
295,176
Shareholders' funds
305,988
295,276
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2025 and were signed on its behalf by
Mr DJ Finlayson
Director
Company Registration No. SC302117
Finlayson Auto's Ltd
Notes to the Accounts
for the year ended 30 June 2024
Finlayson Auto's Ltd is a private company, limited by shares, registered in Scotland, registration number SC302117. The registered office is 107 Market Street, Musselburgh, East Lothian , EH21 6PZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Goodwill 20% straight line
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Finlayson Auto's Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Intangible fixed assets
Total
5
Tangible fixed assets
Total
6
Average number of employees
During the year the average number of employees was 4 (2023: 3).