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REGISTERED NUMBER: SC587624 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

AYRSHIRE TRANSPORT LIMITED

AYRSHIRE TRANSPORT LIMITED (REGISTERED NUMBER: SC587624)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AYRSHIRE TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: W Burns





SECRETARY: W Burns





REGISTERED OFFICE: Rigg Farm Garage
Rigg Road
CUMNOCK
Ayrshire
KA18 1RT





REGISTERED NUMBER: SC587624 (Scotland)





ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG

AYRSHIRE TRANSPORT LIMITED (REGISTERED NUMBER: SC587624)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 654,770 844,021
Investment property 5 1,688,252 1,116,009
2,343,022 1,960,030

CURRENT ASSETS
Debtors 6 48,814 15,705
Cash at bank and in hand 300,965 178,983
349,779 194,688
CREDITORS
Amounts falling due within one year 7 906,746 656,739
NET CURRENT LIABILITIES (556,967 ) (462,051 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,786,055

1,497,979

PROVISIONS FOR LIABILITIES 8 145,608 133,659
NET ASSETS 1,640,447 1,364,320

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,640,347 1,364,220
1,640,447 1,364,320

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AYRSHIRE TRANSPORT LIMITED (REGISTERED NUMBER: SC587624)

BALANCE SHEET - continued
31 JULY 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 director and authorised for issue on 28 April 2025 and were signed by:





W Burns - Director


AYRSHIRE TRANSPORT LIMITED (REGISTERED NUMBER: SC587624)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Ayrshire Transport Limited 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 as modified by the revaluation of certain 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

AYRSHIRE TRANSPORT LIMITED (REGISTERED NUMBER: SC587624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 1,351,399
Additions 324,819
Disposals (471,284 )
At 31 July 2024 1,204,934
DEPRECIATION
At 1 August 2023 507,378
Charge for year 218,252
Eliminated on disposal (175,466 )
At 31 July 2024 550,164
NET BOOK VALUE
At 31 July 2024 654,770
At 31 July 2023 844,021

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 1,116,009
Additions 563,243
Revaluations 9,000
At 31 July 2024 1,688,252
NET BOOK VALUE
At 31 July 2024 1,688,252
At 31 July 2023 1,116,009

Included in fair value of investment property is freehold land of £ 649,517 (2023 - £ 564,991 ) which is not depreciated.

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2020 820
Valuation in 2021 10,000
Valuation in 2022 29,634
Valuation in 2023 2,000
Valuation in 2024 9,000
Cost 1,636,798
1,688,252

AYRSHIRE TRANSPORT LIMITED (REGISTERED NUMBER: SC587624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,656,770 1,073,555

The property was valued on fair value basis on 31 July 2024 by William Burns .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 48,814 15,705

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 161,778 110,916
Other creditors 744,968 545,823
906,746 656,739

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 145,608 133,659

Deferred
tax
£   
Balance at 1 August 2023 133,659
Charge to Income Statement during year 11,949
Balance at 31 July 2024 145,608