Acorah Software Products - Accounts Production 16.5.460 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 SC096613 Mrs Nanette Bonas Mr Anthony Bonas Mr Mark Bonas Mr Simon Bonas iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC096613 2024-02-29 SC096613 2025-02-28 SC096613 2024-03-01 2025-02-28 SC096613 frs-core:CurrentFinancialInstruments 2025-02-28 SC096613 frs-core:Non-currentFinancialInstruments 2025-02-28 SC096613 frs-core:FurnitureFittings 2025-02-28 SC096613 frs-core:FurnitureFittings 2024-03-01 2025-02-28 SC096613 frs-core:FurnitureFittings 2024-02-29 SC096613 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-02-28 SC096613 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-01 2025-02-28 SC096613 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 SC096613 frs-core:MotorVehicles 2025-02-28 SC096613 frs-core:MotorVehicles 2024-03-01 2025-02-28 SC096613 frs-core:MotorVehicles 2024-02-29 SC096613 frs-core:PlantMachinery 2025-02-28 SC096613 frs-core:PlantMachinery 2024-03-01 2025-02-28 SC096613 frs-core:PlantMachinery 2024-02-29 SC096613 frs-core:WithinOneYear 2025-02-28 SC096613 frs-core:ShareCapital 2025-02-28 SC096613 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 SC096613 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 SC096613 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 SC096613 frs-bus:SmallEntities 2024-03-01 2025-02-28 SC096613 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 SC096613 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 SC096613 frs-bus:Director1 2024-03-01 2025-02-28 SC096613 frs-bus:Director2 2024-03-01 2025-02-28 SC096613 frs-bus:Director3 2024-03-01 2025-02-28 SC096613 frs-bus:Director4 2024-03-01 2025-02-28 SC096613 frs-countries:Scotland 2024-03-01 2025-02-28 SC096613 2023-02-28 SC096613 2024-02-29 SC096613 2023-03-01 2024-02-29 SC096613 frs-core:CurrentFinancialInstruments 2024-02-29 SC096613 frs-core:Non-currentFinancialInstruments 2024-02-29 SC096613 frs-core:BetweenOneFiveYears 2024-02-29 SC096613 frs-core:WithinOneYear 2024-02-29 SC096613 frs-core:ShareCapital 2024-02-29 SC096613 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29
Registered number: SC096613
Newtown Auto Centre Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
JMB Accounting
Kildeleithe Cottage
1 Easter Kinleith Farm
Currie
EH14 6AS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC096613
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 54,657 50,418
54,657 50,418
CURRENT ASSETS
Stocks 5 361,825 294,001
Debtors 6 11,604 6,983
Cash at bank and in hand 1,212,883 1,117,929
1,586,312 1,418,913
Creditors: Amounts Falling Due Within One Year 7 (274,567 ) (335,064 )
NET CURRENT ASSETS (LIABILITIES) 1,311,745 1,083,849
TOTAL ASSETS LESS CURRENT LIABILITIES 1,366,402 1,134,267
Creditors: Amounts Falling Due After More Than One Year 8 - (4,998 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,607 ) (4,820 )
NET ASSETS 1,358,795 1,124,449
CAPITAL AND RESERVES
Called up share capital 10 58,000 58,000
Profit and Loss Account 1,300,795 1,066,449
SHAREHOLDERS' FUNDS 1,358,795 1,124,449
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For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Anthony Bonas
Director
26th September 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Newtown Auto Centre Limited is a private company, limited by shares, incorporated in Scotland, registered number SC096613 . The registered office is 170 Lanark Road West, Currie, Edinburgh, Midlothian, EH14 5NY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Straight Line over 20 years
Plant & Machinery 15% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 15% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 12)
10 12
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2024 35,855 301,277 29,916 58,798 425,846
Additions - - 14,000 3,712 17,712
Disposals - - (4,920 ) - (4,920 )
As at 28 February 2025 35,855 301,277 38,996 62,510 438,638
Depreciation
As at 1 March 2024 12,650 281,029 29,915 51,834 375,428
Provided during the period 1,365 5,374 3,500 3,234 13,473
Disposals - - (4,920 ) - (4,920 )
As at 28 February 2025 14,015 286,403 28,495 55,068 383,981
Net Book Value
As at 28 February 2025 21,840 14,874 10,501 7,442 54,657
As at 1 March 2024 23,205 20,248 1 6,964 50,418
5. Stocks
2025 2024
£ £
Finished goods 361,825 294,001
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,552 3,931
Other debtors 10,052 3,052
11,604 6,983
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 4,998 4,999
Trade creditors 54,181 75,838
Other creditors 49,426 86,451
Taxation and social security 165,962 167,776
274,567 335,064
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 4,998
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,998 4,999
Later than one year and not later than five years - 4,998
4,998 9,997
4,998 9,997
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 58,000 58,000
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