Registration number: SC328786

City Quay Car Services Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

City Quay Car Services Limited

(Registration number: SC328786)
Statement of Financial Position as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	123,667	137,667
Tangible assets	5	581,506	607,614
		705,173	745,281
Current assets
Stocks	6	2,250	8,474
Debtors	7	31,349	30,581
Cash at bank and in hand		151,372	130,234
		184,971	169,289
Creditors: Amounts falling due within one year	8	(235,037)	(221,265)
Net current liabilities		(50,066)	(51,976)
Total assets less current liabilities		655,107	693,305
Creditors: Amounts falling due after more than one year	8	(114,281)	(200,541)
Provisions for liabilities		(25,077)	(23,004)
Net assets		515,749	469,760
Capital and reserves
Called up share capital		30,000	30,000
Retained earnings		485,749	439,760
Shareholders' funds		515,749	469,760

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 15 January 2026

City Quay Car Services Limited

(Registration number: SC328786)
Statement of Financial Position as at 31 May 2025

......................................... Mr J Ewart Director

City Quay Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1	General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
28 Queen Street
Broughty Ferry
Dundee
DD5 1AN

The principal place of business is:
Unit 5 Fruitmarket
East Dock Street
Dundee
DD1 3JN

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expenses for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

City Quay Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and Buildings	2% straight line
Plant	25% reducing balance
Fixtures and Fittings	15% reducing balance
Motor Vehilces	20%-30% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

City Quay Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 16 (2024 - 15).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 June 2024	140,000	140,000
At 31 May 2025	140,000	140,000
Amortisation
At 1 June 2024	2,333	2,333
Amortisation charge	14,000	14,000
At 31 May 2025	16,333	16,333
Carrying amount
At 31 May 2025	123,667	123,667
At 31 May 2024	137,667	137,667

City Quay Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

5	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 June 2024	556,824	24,554	217,848	20,000
Additions	-	-	21,330	-
Disposals	-	-	-	(9,500)
At 31 May 2025	556,824	24,554	239,178	10,500
Depreciation
At 1 June 2024	65,663	8,176	129,751	8,022
Charge for the year	11,137	2,458	26,265	1,208
Eliminated on disposal	-	-	-	(3,130)
At 31 May 2025	76,800	10,634	156,016	6,100
Carrying amount
At 31 May 2025	480,024	13,920	83,162	4,400
At 31 May 2024	491,161	16,378	88,097	11,978

	Total £
Cost or valuation
At 1 June 2024	819,226
Additions	21,330
Disposals	(9,500)
At 31 May 2025	831,056
Depreciation
At 1 June 2024	211,612
Charge for the year	41,068
Eliminated on disposal	(3,130)
At 31 May 2025	249,550
Carrying amount
At 31 May 2025	581,506
At 31 May 2024	607,614

Included within the net book value of land and buildings above is £480,024 (2024 - £491,161) in respect of leasehold land and buildings.
 

City Quay Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6

Stocks

	2025 £	2024 £
Other inventories	2,250	8,474

7

Debtors

Current	2025 £	2024 £
Trade debtors	29,262	28,596
Prepayments	2,087	1,907
Other debtors	-	78
	31,349	30,581

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		101,752	119,252
Trade creditors		39,998	49,833
Taxation and social security		71,281	29,239
Accruals and deferred income		19,655	20,454
Other creditors		2,351	2,487
		235,037	221,265

The bank borrowings are secured by a standard security and floating charge held over the property and assets.

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		114,281	200,541

The bank borrowings are secured by a standard security and floating charge held over the property and assets.