REGISTERED NUMBER: SC460646 (Scotland)

Unaudited Financial Statements for the Year Ended 31st October 2025

for

Corra Garages Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

A J Smith

Mrs C Smith

P J Smith

REGISTERED OFFICE:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

REGISTERED NUMBER:

SC460646 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Intangible assets

4

1,293

1,293

Tangible assets

5

1,526,908

1,534,088

1,528,201

1,535,381

CURRENT ASSETS

Debtors

6

5,988

8,326

Cash at bank

54,024

11,249

60,012

19,575

CREDITORS

Amounts falling due within one year

7

1,389,019

1,413,939

NET CURRENT LIABILITIES

(1,329,007

)

(1,394,364

)

TOTAL ASSETS LESS CURRENT LIABILITIES

199,194

141,017

PROVISIONS FOR LIABILITIES

10,853

12,217

NET ASSETS

188,341

128,800

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

188,241

128,700

SHAREHOLDERS' FUNDS

188,341

128,800

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st July 2026 and were signed on its behalf by:

P J Smith - Director

1.	STATUTORY INFORMATION

Corra Garages 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st November 2024

and 31st October 2025

1,293

NET BOOK VALUE

At 31st October 2025

1,293

At 31st October 2024

1,293

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st November 2024

1,469,788

294,521

1,764,309

Additions

-

5,065

5,065

At 31st October 2025

1,469,788

299,586

1,769,374

DEPRECIATION

At 1st November 2024

-

230,221

230,221

Charge for year

-

12,245

12,245

At 31st October 2025

-

242,466

242,466

NET BOOK VALUE

At 31st October 2025

1,469,788

57,120

1,526,908

At 31st October 2024

1,469,788

64,300

1,534,088

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,427

2,060

Other debtors

3,561

6,266

5,988

8,326

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

7,898

12,576

Taxation and social security

10,069

3,358

Other creditors

1,371,052

1,398,005

1,389,019

1,413,939

8.	RELATED PARTY DISCLOSURES

As at 31st October 2025 the company owed the directors £1,368,951 (2024 - £1,396,005) by way of interest free director loan accounts.