Company Registration No. SC668854 (Scotland)
LM Motor Clinic Limited
Unaudited accounts
for the year ended 31 July 2024
LM Motor Clinic Limited
Company Information
for the year ended 31 July 2024
Company Number
SC668854 (Scotland)
Registered Office
19 DEAN STREET
KILMARNOCK
KA3 1DY
SCOTLAND
Accountants
BCi Accountants
Suite 2/3 - 48
West George Street
Glasgow
Scotland
G2 1BP
LM Motor Clinic Limited
Accountants' report
Accountants' report to the director of LM Motor Clinic Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
LM Motor Clinic Limited for the year ended
31 July 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of LM Motor Clinic Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of LM Motor Clinic Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LM Motor Clinic Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LM Motor Clinic Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of LM Motor Clinic Limited. You consider that LM Motor Clinic Limited 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 accounts of LM Motor Clinic Limited. 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 accounts.
BCi Accountants
Suite 2/3 - 48
West George Street
Glasgow
Scotland
G2 1BP
22 April 2025
LM Motor Clinic Limited
Statement of financial position
as at 31 July 2024
Intangible assets
100,000
100,000
Tangible assets
32,171
24,501
Cash at bank and in hand
32,110
24,687
Creditors: amounts falling due within one year
(62,601)
(26,191)
Net current assets
21,925
16,746
Total assets less current liabilities
154,096
141,247
Creditors: amounts falling due after more than one year
(133,223)
(116,756)
Called up share capital
84,793
84,793
Capital contribution reserve
2,500
2,500
Profit and loss account
(66,420)
(62,802)
Shareholders' funds
20,873
24,491
For the year ending 31 July 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.
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 22 April 2025 and were signed on its behalf by
Leigh McAvoy
Director
Company Registration No. SC668854
LM Motor Clinic Limited
Notes to the Accounts
for the year ended 31 July 2024
LM Motor Clinic Limited is a private company, limited by shares, registered in Scotland, registration number SC668854. The registered office is 19 DEAN STREET, KILMARNOCK, KA3 1DY, SCOTLAND.
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.
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
10 Percent Straight Line Annual Depreciation
Fixtures & fittings
10 Percent Straight Line Annual Depreciation
Computer equipment
10 Percent Straight Line Annual Depreciation
Other tangible fixed assets
10 Percent Straight Line Annual Depreciation
Stock has 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.
These Financial Statements have been prepared on a going concern basis.
The Company remained open and traded throughout the Covid-19 Period providing essential servicing and repair work for Essential Workers.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
LM Motor Clinic Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
25,356
3,580
1,900
30,836
Additions
10,500
-
-
10,500
At 31 July 2024
35,856
3,580
1,900
41,336
At 1 August 2023
5,350
795
190
6,335
Charge for the year
2,500
330
-
2,830
At 31 July 2024
7,850
1,125
190
9,165
At 31 July 2024
28,006
2,455
1,710
32,171
At 31 July 2023
20,006
2,785
1,710
24,501
Amounts falling due within one year
Trade debtors
50,126
(13,200)
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
21,101
14,841
Amounts owed to group undertakings and other participating interests
35,000
10,000
LM Motor Clinic Limited
Notes to the Accounts
for the year ended 31 July 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
106,000
98,000
Loans from directors
27,223
18,756
9
Average number of employees
During the year the average number of employees was 8 (2023: 8).