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REGISTERED NUMBER: SC487475 (Scotland)















MT Autos Lossie Ltd

Financial Statements For The Year Ended 30 September 2024






MT Autos Lossie Ltd (Registered number: SC487475)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MT Autos Lossie Ltd

Company Information
For The Year Ended 30 September 2024







DIRECTORS: Mr M J Taylor
Mr B Smith
Mr T Smith



REGISTERED OFFICE: 27 Golf Crescent
Hopeman
Moray
IV30 5TL



REGISTERED NUMBER: SC487475 (Scotland)



ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: The Royal Bank of Scotland
209 High Street
Elgin
Moray
IV30 1DL

MT Autos Lossie Ltd (Registered number: SC487475)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,414 28,725

CURRENT ASSETS
Stocks 9,853 11,703
Debtors 5 5,902 5,014
Cash at bank and in hand 43,072 45,346
58,827 62,063
CREDITORS
Amounts falling due within one year 6 22,162 27,342
NET CURRENT ASSETS 36,665 34,721
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,079

63,446

CREDITORS
Amounts falling due after more than one
year

7

(4,686

)

(9,837

)

PROVISIONS FOR LIABILITIES 9 (4,259 ) (5,458 )
NET ASSETS 50,134 48,151

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 50,034 48,051
SHAREHOLDERS' FUNDS 50,134 48,151

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

MT Autos Lossie Ltd (Registered number: SC487475)

Balance Sheet - continued
30 September 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 31 March 2025 and were signed on its behalf by:





Mr M J Taylor - Director


MT Autos Lossie Ltd (Registered number: SC487475)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

MT Autos Lossie 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 - 33% on cost and 25% 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 3 (2023 - 3 ) .

MT Autos Lossie Ltd (Registered number: SC487475)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 22,611 2,621 25,750 417 51,399
Additions 1,250 - - - 1,250
Disposals (967 ) (124 ) - - (1,091 )
At 30 September 2024 22,894 2,497 25,750 417 51,558
DEPRECIATION
At 1 October 2023 12,003 1,716 8,538 417 22,674
Charge for year 2,938 226 4,303 - 7,467
Eliminated on disposal (873 ) (124 ) - - (997 )
At 30 September 2024 14,068 1,818 12,841 417 29,144
NET BOOK VALUE
At 30 September 2024 8,826 679 12,909 - 22,414
At 30 September 2023 10,608 905 17,212 - 28,725

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 3,166 5,014
Other debtors 2,736 -
5,902 5,014

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 4,826 4,701
Trade creditors 6,940 9,537
Taxation and social security 8,815 11,146
Other creditors 1,581 1,958
22,162 27,342

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 4,686 9,837

MT Autos Lossie Ltd (Registered number: SC487475)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£    £   
Within one year 13,450 12,550

9. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 4,259 5,458

Deferred
tax
£   
Balance at 1 October 2023 5,458
Provided during year (1,199 )
Balance at 30 September 2024 4,259

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 October 2023 48,051
Profit for the year 15,983
Dividends (14,000 )
At 30 September 2024 50,034

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £14,000 (2023 - £19,500) were paid to the directors .

At 1 October 2023 the company owed one of the directors £474. During the year the director met expenses on behalf of this company totalling £106. At 30 September 2024 the company owed this director £580. This loan is interest free and has no fixed terms.