REGISTERED NUMBER: SC390651 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Boyds Motor Engineers Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W S Boyd

REGISTERED OFFICE:

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

REGISTERED NUMBER:

SC390651 (Scotland)

ACCOUNTANTS:

Accountants Plus

Chartered Certified Accountants

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

55,163

55,147

55,163

55,147

CURRENT ASSETS

Stocks

15,749

15,749

Debtors

6

65,260

28,578

Cash at bank and in hand

56,130

52,052

137,139

96,379

CREDITORS

Amounts falling due within one year

7

96,697

91,612

NET CURRENT ASSETS

40,442

4,767

TOTAL ASSETS LESS CURRENT LIABILITIES

95,605

59,914

CREDITORS

Amounts falling due after more than one year

8

(3,531

)

(13,950

)

PROVISIONS FOR LIABILITIES

(9,365

)

(11,694

)

NET ASSETS

82,709

34,270

CAPITAL AND RESERVES

Called up share capital

125

125

Retained earnings

82,584

34,145

82,709

34,270

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 director acknowledges his 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 director and authorised for issue on 18 November 2025 and were signed by:

W S Boyd - Director

1.	STATUTORY INFORMATION

Boyds Motor Engineers Ltd. 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.

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 2011, 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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance, 20% on cost and 20% on reducing balance

Stocks

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

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances

Cash and bank balances are measured at the transaction 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

10,000

AMORTISATION

At 1 March 2024

and 28 February 2025

10,000

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

-

201,604

201,604

Additions

16,043

-

16,043

Disposals

-

(16,537

)

(16,537

)

At 28 February 2025

16,043

185,067

201,110

DEPRECIATION

At 1 March 2024

-

146,457

146,457

Charge for year

-

16,027

16,027

Eliminated on disposal

-

(16,537

)

(16,537

)

At 28 February 2025

-

145,947

145,947

NET BOOK VALUE

At 28 February 2025

16,043

39,120

55,163

At 29 February 2024

-

55,147

55,147

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

24,502

25,262

Amounts owed by participating interests

40,758

-

Other debtors

-

280

Prepayments

-

3,036

65,260

28,578

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

10,419

10,162

Trade creditors

35,009

36,875

Tax

30,632

19,224

Social security and other taxes

3,336

3,298

VAT

14,439

10,985

Other creditors

-

1,424

Pension

481

562

Directors' current accounts

76

7,114

Accrued expenses

2,305

1,968

96,697

91,612

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans - 1-2 years

3,531

13,950