Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-203026false2024-01-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC141607 2024-01-01 2024-12-31 SC141607 2023-01-01 2023-12-31 SC141607 2024-12-31 SC141607 2023-12-31 SC141607 c:CompanySecretary1 2024-01-01 2024-12-31 SC141607 c:Director1 2024-01-01 2024-12-31 SC141607 c:Director2 2024-01-01 2024-12-31 SC141607 c:Director3 2024-01-01 2024-12-31 SC141607 c:Director4 2024-01-01 2024-12-31 SC141607 c:Director5 2024-01-01 2024-12-31 SC141607 c:Director6 2024-01-01 2024-12-31 SC141607 c:RegisteredOffice 2024-01-01 2024-12-31 SC141607 d:Buildings 2024-01-01 2024-12-31 SC141607 d:Buildings 2024-12-31 SC141607 d:Buildings 2023-12-31 SC141607 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC141607 d:PlantMachinery 2024-01-01 2024-12-31 SC141607 d:PlantMachinery 2024-12-31 SC141607 d:PlantMachinery 2023-12-31 SC141607 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC141607 d:MotorVehicles 2024-01-01 2024-12-31 SC141607 d:MotorVehicles 2024-12-31 SC141607 d:MotorVehicles 2023-12-31 SC141607 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC141607 d:FurnitureFittings 2024-01-01 2024-12-31 SC141607 d:FurnitureFittings 2024-12-31 SC141607 d:FurnitureFittings 2023-12-31 SC141607 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC141607 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 SC141607 d:OtherPropertyPlantEquipment 2024-12-31 SC141607 d:OtherPropertyPlantEquipment 2023-12-31 SC141607 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC141607 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC141607 d:CurrentFinancialInstruments 2024-12-31 SC141607 d:CurrentFinancialInstruments 2023-12-31 SC141607 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC141607 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC141607 d:ShareCapital 2024-12-31 SC141607 d:ShareCapital 2023-12-31 SC141607 d:SharePremium 2024-12-31 SC141607 d:SharePremium 2023-12-31 SC141607 d:CapitalRedemptionReserve 2024-12-31 SC141607 d:CapitalRedemptionReserve 2023-12-31 SC141607 d:RevaluationReserve 2024-12-31 SC141607 d:RevaluationReserve 2023-12-31 SC141607 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC141607 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC141607 c:OrdinaryShareClass1 2024-01-01 2024-12-31 SC141607 c:OrdinaryShareClass1 2024-12-31 SC141607 c:OrdinaryShareClass1 2023-12-31 SC141607 c:FRS102 2024-01-01 2024-12-31 SC141607 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC141607 c:FullAccounts 2024-01-01 2024-12-31 SC141607 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC141607 d:WithinOneYear 2024-12-31 SC141607 d:WithinOneYear 2023-12-31 SC141607 d:BetweenOneFiveYears 2024-12-31 SC141607 d:BetweenOneFiveYears 2023-12-31 SC141607 2 2024-01-01 2024-12-31 SC141607 5 2024-01-01 2024-12-31 SC141607 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC141607










CUPAR MOTORCYCLES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
CUPAR MOTORCYCLES LIMITED
 

COMPANY INFORMATION


Directors
Mr P J Weinberger 
Mr B J Neilson 
Mr R J Lindsay 
Mr A A Lawrie 
Mr A Mackie 
Ms J Rafferty 




Company secretary
Ms L Hughes



Registered number
SC141607



Registered office
West Port

Cupar

Fife

KY15 4AW




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
CUPAR MOTORCYCLES LIMITED
REGISTERED NUMBER: SC141607

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible fixed assets
  
712,156
716,409

  
712,156
716,409

Current assets
  

Stocks
  
1,756,198
2,084,465

Debtors: amounts falling due within one year
 5 
173,753
153,031

Cash at bank and in hand
  
12,370
31,499

  
1,942,321
2,268,995

Creditors: amounts falling due within one year
 6 
(1,126,451)
(1,428,613)

Net current assets
  
 
 
815,870
 
 
840,382

Total assets less current liabilities
  
1,528,026
1,556,791

Provisions for liabilities
  

Deferred tax
  
(42,649)
(43,602)

  
 
 
(42,649)
 
 
(43,602)

Net assets
  
1,485,377
1,513,189


Capital and reserves
  

Called up share capital 
 7 
68,168
68,168

Share premium account
  
31,427
31,427

Revaluation reserve
  
80,000
80,000

Capital redemption reserve
  
3,840
3,840

Profit and loss account
  
1,301,942
1,329,754

  
1,485,377
1,513,189


Page 1

 
CUPAR MOTORCYCLES LIMITED
REGISTERED NUMBER: SC141607

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr P J Weinberger
Mr B J Neilson
Director
Director


Date: 20 May 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CUPAR MOTORCYCLES LIMITED
 

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

1.


General information

Cupar Motorcycles Limited is a private company, limited by shares, incorporated in Scotland with registration number SC141607.  The registered office is Westport, Cupar, Fife, KY15 4AW.
The financial statements are presented in Sterling which is the functional currency of the company rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CUPAR MOTORCYCLES LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
CUPAR MOTORCYCLES LIMITED
 

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

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Heritable property
-
Not depreciated
Plant and machinery
-
15% reducing balance/33.33% straight line/30% reducing balance
Motor vehicles
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Other fixed assets
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Stocks

Stocks and work in progress including short term contracts are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.  Cost comprises direct expenditure and an appropiate proportion of fixed and variable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
CUPAR MOTORCYCLES LIMITED
 

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

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 26).

Page 6
 


 
CUPAR MOTORCYCLES LIMITED


 

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


4.


Tangible fixed assets






Heritable property
Plant and machinery
Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
611,223
129,536
103,455
33,407
42,207
919,828


Additions
-
733
-
12,120
-
12,853



At 31 December 2024

611,223
130,269
103,455
45,527
42,207
932,681



Depreciation


At 1 January 2024
-
117,606
23,322
22,491
40,000
203,419


Charge for the year on owned assets
-
1,927
12,020
2,718
441
17,106



At 31 December 2024

-
119,533
35,342
25,209
40,441
220,525



Net book value



At 31 December 2024
611,223
10,736
68,113
20,318
1,766
712,156



At 31 December 2023
611,223
11,930
80,133
10,916
2,207
716,409

The land and buildings are included in the financial statements at valuations determined by D M Hall
Chartered Surveyors, on an open market basis. The directors are not aware of any material change in the land and buildings and therefore the valuation has not been updated since 7 July 2023.

Page 7
 
CUPAR MOTORCYCLES LIMITED
 

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

5.


Debtors

2024
2023
£
£


Trade debtors
24,118
23,032

Other debtors
144,572
114,408

Prepayments and accrued income
5,063
15,591

173,753
153,031



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
162,945
107,370

Other loans
-
100,000

Trade creditors
731,773
983,785

Other taxation and social security
41,334
97,159

Other creditors
177,204
132,313

Accruals and deferred income
13,195
7,986

1,126,451
1,428,613


Secured Loans
The bank overdraft is secured by a floating charge and standard security over the property and assets of the company. 

Page 8

 
CUPAR MOTORCYCLES LIMITED
 

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

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



68,168 (2023 - 68,168) Ordinary shares of £1.00 each
68,168
68,168



8.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
27,000
22,000

Later than 1 year and not later than 5 years
-
22,000

27,000
44,000


Page 9