iso4217:GBP
xbrli:pure
xbrli:shares
iso4217:GBP
xbrli:shares
SC055569
2024-12-31
SC055569
2023-12-31
SC055569
2024-01-01
2024-12-31
SC055569
2023-01-01
2023-12-31
SC055569
bus:Director1
2024-01-01
2024-12-31
SC055569
bus:SmallEntities
2024-01-01
2024-12-31
SC055569
bus:AuditExempt-NoAccountantsReport
2024-01-01
2024-12-31
SC055569
bus:FilletedAccounts
2024-01-01
2024-12-31
SC055569
bus:Director1
2024-01-01
2024-12-31
SC055569
2024-01-01
2024-12-31
SC055569
bus:PrivateLimitedCompanyLtd
2024-01-01
2024-12-31
Registration Number SC055569 (Scotland)
Filleted Unaudited Financial Statements
for the year ended 31 December 2024
Financial Statements for the year ended 31 December 2024
STATEMENT OF FINANCIAL POSITION
Tangible assets
3
733,746
737,023
Cash at bank and in hand
1,814
1,020
Creditors: amounts falling due within one year
5
158,053
147,601
Net current assets
13,785
31,215
Total assets less current liabilities
747,531
768,238
Creditors: amounts falling due after more than one year
6
(219,253)
(242,687)
Provision for liabilities
(10,480)
(4,701)
Net assets
517,798
520,850
Called up share capital
7
83,400
83,400
Revaluation reserve
290,928
290,928
Profit and loss account
143,470
146,522
Shareholder's funds
517,798
520,850
For the year ended 31 December 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its accounts for the year ended 31 December 2024 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirments of the Companies Act 2006 with respect ot accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the Board of Directors on 28 August 2025.
The notes on pages preview to update form part of these accounts.
Financial Statements for the year ended 31 December 2024
STATEMENT OF FINANCIAL POSITION
Company registration number: SC055569
Financial Statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
1.
Summary of significant accounting policies
1.1
General information and basis of preparation
The financial statements have been prepared on the historical cost basis.
Hazelbank Motors Limited is a private company limited by shares, registered in Scotland. The address of the registered office and registration number are as below:
These financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006.
The nature of the company's operations and principal activities are principal activity during the year was the sale of used motor vehicles and rental of commercial property.
The financial statements are prepared in sterling (£) which is the functional currency of the company and rounded to the nearest £.
The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and has reasonable expectations that the Company has adequate resources to continue in operational existence for the foreseeable future. On the basis they continue to adopt the going concern basis of accounting in preparing these financial statements.
1.3
Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Asset class
Useful life / depreciation rate
Plant and machinery
15% reducing balance
Fixtures and fittings
15% reducing balance
Equipment
25% reducing balance
Freehold proprerty and property inprovements are not subject to depreciation
Financial Statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.
1.5
Financial instruments
The Company has chosen to adopt Section 11 of FRS102 in respect of financial instruments.
Other financial assets, including trade debtors for goods sold to customers on short-term credit, are initially measured at the transaction price including transaction costs, and are subsequently measured at the transaction price plus transaction costs not yet recognised, cumulative interest income less repayments and impairment, where there is evidence of impairment.
Other financial liabilities
Other financial liabilities, including trade creditors, are initially measured at transaction price less transaction costs, and are subsequently measured at the transaction price less transaction costs not yet recognised in profit or loss and repayments plus cumulative interest expenses incurred.
Impairment of financial assets
At the end of each reporting period, the company assesses whether there is evidence of impairment of any financial assets, including investments, loans, trade debtors and cash. If there is evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.
1.6
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Where the circumstances causing an impairment of an asset, other than goodwill, no longer apply, then the impairment is reversed through the profit and loss account. An impairment loss recognised for goodwill is not reversed in subsequent periods.
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial Statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.
1.10
Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable for good supplied and services rendered, net of VAT and trade discounts.
Revenue from the sale of goods is recognised when the significant risk and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the cost incurred or to be incurred in respect of the transaction can be measured reliably.
The average monthly number of employees, including the director, during the year was as follows:
Financial Statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Balances at year end and movements for the year
Freehold property
£
Plant and machinery
£
Fixtures and fittings
£
Equipment
£
Property improvements
£
Total
£
At 01 January 2024
701,689
77,946
28,261
17,274
9,928
835,098
Additions
-
-
-
771
-
771
At 31 December 2024
701,689
77,946
28,261
18,045
9,928
835,869
At 01 January 2024
-
(59,756)
(23,217)
(15,102)
-
(98,075)
Charge for the year
-
(2,728)
(757)
(563)
-
(4,048)
At 31 December 2024
-
(62,484)
(23,974)
(15,665)
-
(102,123)
At 01 January 2024
701,689
18,190
5,044
2,172
9,928
737,023
At 31 December 2024
701,689
15,462
4,287
2,380
9,928
733,746
Trade debtors
7,031
13,808
5.
Creditors: amounts falling due within one year
Creditors: amounts falling due within one year comprise:
Trade creditors
11,001
12,686
Other creditors
17,045
16,750
Bank loans and overdrafts
118,264
111,597
Social security and other taxes
11,743
6,568
The bank overdraft and loan are secured by a charge over the assets of the company.
Financial Statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
6.
Creditors: amounts falling due after more than one year
Creditors: amounts falling due after more than one year comprise:
Bank loans and overdrafts
219,253
242,687
The bank loan is secured by a charge over the assets of the company.
7.
Called up share capital
Ordinary shares of £1 each
83,400
83,400
Alloted, called up and fully paid
2024
£
2023
£
Ordinary shares of £1 each
83,400
83,400
Appendix - Additional XBRL Tags and Values
Accounting standards applied
Accounts status, audited or unaudited
Average number of employees during the period
Average number of employees during the period
Date of authorisation of financial statements for issue
Director signing Directors' Report
Director signing financial statements
End date for period covered by report
Entity current legal or registered name
Entity is dormant [true/false]
Name of individual auditor
Name of production software
Start date for period covered by report
UK Companies House registered number