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REGISTERED NUMBER: SC106176 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BALERNO GARAGE LIMITED

BALERNO GARAGE LIMITED (REGISTERED NUMBER: SC106176)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BALERNO GARAGE LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: P M Wynne
S A Wynne



SECRETARY: P M Wynne



REGISTERED OFFICE: Q Court
3 Quality Street
Edinburgh
EH4 5BP



REGISTERED NUMBER: SC106176 (Scotland)



ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP



BANKERS: The Royal Bank of Scotland plc
540a Lanark Road
Edinburgh
EH14 5EL

BALERNO GARAGE LIMITED (REGISTERED NUMBER: SC106176)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,797 122,369

CURRENT ASSETS
Stocks 2,334 2,369
Debtors 5 6,810 2,956
Cash at bank 47,229 40,245
56,373 45,570
CREDITORS
Amounts falling due within one year 6 94,565 66,540
NET CURRENT LIABILITIES (38,192 ) (20,970 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,605

101,399

PROVISIONS FOR LIABILITIES 7 3,355 3,624
NET ASSETS 76,250 97,775

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 76,150 97,675
SHAREHOLDERS' FUNDS 76,250 97,775

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

BALERNO GARAGE LIMITED (REGISTERED NUMBER: SC106176)

BALANCE SHEET - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2025 and were signed on its behalf by:





S A Wynne - Director


BALERNO GARAGE LIMITED (REGISTERED NUMBER: SC106176)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Balerno Garage 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 at 31 December 2024, the company had net current liabilities of £38,192 (2023 - £20,970). The company relies on the continued support of the parent company to finance its short term working capital requirements. The directors consider it appropriate to prepare the statements on a going concern basis as they expect that this support will continue for the foreseeable future.

TURNOVER
Turnover represents net invoiced sales of goods and services, excluding value added tax, relating to that of motor engineers and MOT servicing.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Heritable property - 2% per annum on cost
Plant and machinery - 20% per annum reducing balance
Motor vehicles - 25% per annum reducing balance
Computer equipment - 33% per annum reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BALERNO GARAGE LIMITED (REGISTERED NUMBER: SC106176)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

BALERNO GARAGE LIMITED (REGISTERED NUMBER: SC106176)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Heritable Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 147,124 81,240 37,095 985 266,444
Additions - 3,400 - - 3,400
Disposals - (48,400 ) - (985 ) (49,385 )
At 31 December 2024 147,124 36,240 37,095 - 220,459
DEPRECIATION
At 1 January 2024 41,441 78,143 23,544 947 144,075
Charge for year 2,570 1,129 3,388 - 7,087
Eliminated on disposal - (47,553 ) - (947 ) (48,500 )
At 31 December 2024 44,011 31,719 26,932 - 102,662
NET BOOK VALUE
At 31 December 2024 103,113 4,521 10,163 - 117,797
At 31 December 2023 105,683 3,097 13,551 38 122,369

Included in heritable property is land with a cost of £18,637 (2023 - £18,637) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,810 2,956

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 290 -
Amounts owed to group undertakings 48,796 19,896
Taxation and social security 41,199 42,485
Other creditors 4,280 4,159
94,565 66,540

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,355 3,624

BALERNO GARAGE LIMITED (REGISTERED NUMBER: SC106176)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 3,624
Provided during year (269 )
Balance at 31 December 2024 3,355

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S.A.W. Investments Limited by virtue of its 100% shareholding in Balerno Garage Limited, registered office Q Court, 3 Quality Street, Edinburgh, EH4 5BP.