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REGISTERED NUMBER: SC086110 (Scotland)















Financial Statements for the Year Ended 28 February 2025

for

Thornliebank Motor Engineers Limited

Thornliebank Motor Engineers Limited (Registered number: SC086110)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Balance Sheet 1

Notes to the Financial Statements 3


Thornliebank Motor Engineers Limited (Registered number: SC086110)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £   
FIXED ASSETS
Tangible assets 4 231,112 203,127

CURRENT ASSETS
Stocks 3,500 3,000
Debtors 5 19,626 56,013
Cash at bank 213,708 156,052
236,834 215,065
CREDITORS
Amounts falling due within one year 6 (124,275 ) (112,334 )
NET CURRENT ASSETS 112,559 102,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

343,671

305,858

CREDITORS
Amounts falling due after more than one
year

7

(2,500

)

(12,500

)

PROVISIONS FOR LIABILITIES (9,466 ) (2,631 )
NET ASSETS 331,705 290,727

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Share premium 2,000 2,000
Retained earnings 327,705 286,727
SHAREHOLDERS' FUNDS 331,705 290,727

Thornliebank Motor Engineers Limited (Registered number: SC086110)

Balance Sheet - continued
28 February 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 21 May 2025 and were signed on its behalf by:





I D Cumming - Director


Thornliebank Motor Engineers Limited (Registered number: SC086110)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Thornliebank Motor Engineers Limited is a private company, limited by shares, domiciled in Scotland, registration number SC086110. The registered office is 237 Thornliebank Road, Thornliebank, Glasgow, G46 7RG.

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 represents net invoiced sales of goods and services in respect of motor repairing and servicing during the year, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Thornliebank Motor Engineers Limited (Registered number: SC086110)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2024 221,175 111,783 332,958
Additions 4,666 58,495 63,161
Disposals - (9,500 ) (9,500 )
At 28 February 2025 225,841 160,778 386,619
DEPRECIATION
At 1 March 2024 31,897 97,934 129,831
Charge for year 2,002 28,424 30,426
Eliminated on disposal - (4,750 ) (4,750 )
At 28 February 2025 33,899 121,608 155,507
NET BOOK VALUE
At 28 February 2025 191,942 39,170 231,112
At 29 February 2024 189,278 13,849 203,127

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Trade debtors 19,626 17,394
Other debtors - 38,619
19,626 56,013

Thornliebank Motor Engineers Limited (Registered number: SC086110)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 31,726 29,861
Taxation and social security 55,765 70,447
Other creditors 26,784 2,026
124,275 112,334

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.25 29.2.24
£    £   
Bank loans 2,500 12,500

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25 29.2.24
£    £   
I D Cumming
Balance outstanding at start of year 5,619 2,267
Amounts advanced 38,372 3,352
Amounts repaid (44,078 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (87 ) 5,619

R G Cumming
Balance outstanding at start of year 33,000 -
Amounts advanced 25,437 33,000
Amounts repaid (70,700 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,263 ) 33,000