1 July 2023 false No description of principal activity Taxfiler 2024.6 SC568826business:PrivateLimitedCompanyLtd2023-07-012024-06-30 SC5688262023-06-30 SC5688262023-07-012024-06-30 SC568826business:AuditExemptWithAccountantsReport2023-07-012024-06-30 SC568826business:FilletedAccounts2023-07-012024-06-30 SC5688262024-06-30 SC5688262023-06-30 SC568826core:WithinOneYear2024-06-30 SC568826core:WithinOneYear2023-06-30 SC568826core:AfterOneYear2024-06-30 SC568826core:AfterOneYear2023-06-30 SC568826core:ShareCapitalcore:PreviouslyStatedAmount2024-06-30 SC568826core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 SC568826core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-06-30 SC568826core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 SC568826core:PreviouslyStatedAmount2024-06-30 SC568826core:PreviouslyStatedAmount2023-06-30 SC568826business:SmallEntities2023-07-012024-06-30 SC568826business:Director12023-07-012024-06-30 SC568826countries:Scotland2023-07-012024-06-30 SC568826business:RegisteredOffice2023-07-012024-06-30 SC568826core:PlantMachinery2023-07-012024-06-30 SC568826core:MotorVehicles2023-07-012024-06-30 SC568826core:FurnitureFittings2023-07-012024-06-30 SC568826core:ComputerEquipment2023-07-012024-06-30 SC568826core:PlantMachinery2023-06-30 SC568826core:MotorVehicles2023-06-30 SC568826core:FurnitureFittings2023-06-30 SC568826core:ComputerEquipment2023-06-30 SC568826core:PlantMachinery2024-06-30 SC568826core:MotorVehicles2024-06-30 SC568826core:FurnitureFittings2024-06-30 SC568826core:ComputerEquipment2024-06-30 SC568826business:Director112023-07-012024-06-30 SC568826business:Director112023-06-30 SC568826business:Director112024-06-30 SC568826business:Director22023-07-012024-06-30 SC568826business:Director222023-07-012024-06-30 SC568826business:Director222023-06-30 SC568826business:Director222024-06-30 SC5688262022-07-012023-06-30 iso4217:GBP xbrli:pure
Company Registration No. SC568826 (Scotland)
HOLT'S GARAGE SERVICES LTD Unaudited accounts for the year ended 30 June 2024
HOLT'S GARAGE SERVICES LTD Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
51,454 
48,420 
Current assets
Inventories
6,000 
6,000 
Debtors
62,681 
27,446 
Cash at bank and in hand
9,706 
9,529 
78,387 
42,975 
Creditors: amounts falling due within one year
(91,944)
(75,432)
Net current liabilities
(13,557)
(32,457)
Total assets less current liabilities
37,897 
15,963 
Creditors: amounts falling due after more than one year
(24,217)
(35,099)
Provisions for liabilities
Deferred tax
(5,199)
- 
Net assets/(liabilities)
8,481 
(19,136)
Capital and reserves
Called up share capital
104 
104 
Profit and loss account
8,377 
(19,240)
Shareholders' funds
8,481 
(19,136)
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by
Iain Robert Holt Director Company Registration No. SC568826
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HOLT'S GARAGE SERVICES LTD Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
HOLT'S GARAGE SERVICES LTD is a private company, limited by shares, registered in Scotland, registration number SC568826. The registered office is 18 PORTLAND STREET, TROON, KA10 6EA, UNITED KINGDOM.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed 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. 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.
Presentation currency
The accounts are presented in £ sterling.
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
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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.
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HOLT'S GARAGE SERVICES LTD Notes to the Accounts for the year ended 30 June 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 July 2023
54,294 
45,920 
5,233 
2,344 
107,791 
Additions
4,771 
13,560 
1,854 
- 
20,185 
At 30 June 2024
59,065 
59,480 
7,087 
2,344 
127,976 
Depreciation
At 1 July 2023
25,444 
28,668 
2,915 
2,344 
59,371 
Charge for the year
8,405 
7,703 
1,043 
- 
17,151 
At 30 June 2024
33,849 
36,371 
3,958 
2,344 
76,522 
Net book value
At 30 June 2024
25,216 
23,109 
3,129 
- 
51,454 
At 30 June 2023
28,850 
17,252 
2,318 
- 
48,420 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
59,728 
22,185 
Deferred tax asset
2,636 
Accrued income and prepayments
2,500 
2,625 
Other debtors
453 
- 
62,681 
27,446 
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HOLT'S GARAGE SERVICES LTD Notes to the Accounts for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
13,477 
13,477 
VAT
19,818 
16,824 
Trade creditors
49,423 
60,077 
Taxes and social security
8,156 
2,298 
Other creditors
170 
- 
Loans from directors
- 
(18,144)
Accruals
900 
900 
91,944 
75,432 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
24,217 
35,099 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Iain Robert Holt
Interest free loan
(10,443)
10,443 
- 
- 
Fiona Carol Munro
Interest free loan
(10,311)
10,311 
- 
- 
(20,754)
20,754 
- 
- 
Directors loans are interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 8 (2023: 10).
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