Company Registration No. SC305930 (Scotland)
FORMULA ONE CAR CENTRE LIMITED
Unaudited accounts
for the year ended 31 July 2025
FORMULA ONE CAR CENTRE LIMITED
Unaudited accounts
Contents
FORMULA ONE CAR CENTRE LIMITED
Company Information
for the year ended 31 July 2025
Directors
LAURA JAYNE SINCLAIR
LEE ROBERT SINCLAIR
Secretary
LAURA JAYNE SINCLAIR
Company Number
SC305930 (Scotland)
Registered Office
2 VICTORIA PLACE
RUTHERGLEN
GLASGOW
G73 2JP
Accountants
brand jamieson co
2 Victoria Place
Rutherglen
Glasgow
G73 2JP
FORMULA ONE CAR CENTRE LIMITED
Statement of financial position
as at 31 July 2025
Tangible assets
9,415
11,076
Inventories
669,777
985,661
Debtors
4,466,053
3,993,354
Cash at bank and in hand
97,811
135,178
Creditors: amounts falling due within one year
(1,576,347)
(1,506,914)
Net current assets
3,657,294
3,607,279
Total assets less current liabilities
3,666,709
3,618,355
Creditors: amounts falling due after more than one year
-
(8,334)
Net assets
3,666,709
3,610,021
Called up share capital
1,000
1,000
Profit and loss account
3,665,709
3,609,021
Shareholders' funds
3,666,709
3,610,021
For the year ending 31 July 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2026 and were signed on its behalf by
LEE ROBERT SINCLAIR
Director
Company Registration No. SC305930
FORMULA ONE CAR CENTRE LIMITED
Notes to the Accounts
for the year ended 31 July 2025
FORMULA ONE CAR CENTRE LIMITED is a private company, limited by shares, registered in Scotland, registration number SC305930. The registered office is 2 VICTORIA PLACE, RUTHERGLEN, GLASGOW, G73 2JP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance.
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Trade debtors
18,290
33,615
Amounts due from group undertakings etc.
4,445,761
3,958,127
FORMULA ONE CAR CENTRE LIMITED
Notes to the Accounts
for the year ended 31 July 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
8,334
10,000
Trade creditors
49,561
44,794
Amounts owed to group undertakings and other participating interests
578,100
468,299
Taxes and social security
313,033
438,937
Loans from directors
269,138
282,864
Deferred income
83,448
71,465
7
Creditors: amounts falling due after more than one year
2025
2024
8
Transactions with related parties
During the year , dividends of £10,000 ( 2024 £20,000 ) were paid to the directors.
Control of the company is evenly split between the directors who each own 50% of the issued share capital.
10
Average number of employees
During the year the average number of employees was 7 (2024: 7).