Dingwall Garage Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC615202 (Scotland)

Dingwall Garage Limited

Financial Statements For The Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Ross

Mrs C Ross

REGISTERED OFFICE:

Docharty Road

Dingwall

Highland

IV15 9UG

REGISTERED NUMBER:

SC615202 (Scotland)

ACCOUNTANTS:

The Long Partnership

1st Floor

Robertson House

Shore Street

Inverness

Highland

IV1 1NF

FIXED ASSETS

Intangible assets

4

13,722

17,222

Tangible assets

5

433,591

299,634

447,313

316,856

CURRENT ASSETS

Debtors

6

16,485

54,374

Cash at bank

51,734

42,322

68,219

96,696

CREDITORS

Amounts falling due within one year

7

89,775

81,711

NET CURRENT (LIABILITIES)/ASSETS

(21,556

)

14,985

TOTAL ASSETS LESS CURRENT
LIABILITIES

425,757

331,841

CREDITORS

Amounts falling due after more than one
year

8

(269,865

)

(263,149

)

PROVISIONS FOR LIABILITIES

(45,332

)

(19,880

)

NET ASSETS

110,560

48,812

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

110,460

48,712

110,560

48,812

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.

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 30 October 2025 and were signed on its behalf by:

D Ross - Director

1.	STATUTORY INFORMATION

Dingwall 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

33% on cost and 20% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

35,000

AMORTISATION

At 1 January 2024

17,778

Charge for year

3,500

At 31 December 2024

21,278

NET BOOK VALUE

At 31 December 2024

13,722

At 31 December 2023

17,222

5.	TANGIBLE FIXED ASSETS

Land and

buildings

Equipment

Totals

£

COST

At 1 January 2024

195,000

161,109

356,109

Additions

-

180,107

Disposals

-

(1,400

)

(1,400

)

At 31 December 2024

195,000

339,816

534,816

DEPRECIATION

At 1 January 2024

-

56,475

Charge for year

-

45,655

Eliminated on disposal

-

(905

)

(905

)

At 31 December 2024

-

101,225

NET BOOK VALUE

At 31 December 2024

195,000

238,591

433,591

At 31 December 2023

195,000

104,634

299,634

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

7,471

8,686

Other debtors

9,014

45,688

16,485

54,374

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

9,300

11,195

Hire purchase contracts

47,538

24,650

Trade creditors

6,905

15,917

Taxation and social security

3,854

10,145

Other creditors

22,178

19,804

89,775

81,711

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

213,084

217,957

Hire purchase contracts

56,781

45,192

269,865

263,149

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

203,784

206,762

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

D Ross and D Ross

Balance outstanding at start of year

20,544

Amounts repaid

(20,000

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

544

20,544