REGISTERED NUMBER: SC361093 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Memsie Garage Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C B Buchan

Mr J R Buchan

REGISTERED OFFICE:

Memsie Garage

Memsie

Fraserburgh

Aberdeenshire

AB43 7AN

REGISTERED NUMBER:

SC361093 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Tangible assets

4

85,007

87,365

CURRENT ASSETS

Stocks

380,306

235,049

Debtors

5

45,939

42,331

Cash at bank and in hand

6,894

128,950

433,139

406,330

CREDITORS

Amounts falling due within one year

6

167,098

198,828

NET CURRENT ASSETS

266,041

207,502

TOTAL ASSETS LESS CURRENT LIABILITIES

351,048

294,867

PROVISIONS FOR LIABILITIES

2,747

5,481

NET ASSETS

348,301

289,386

CAPITAL AND RESERVES

Called up share capital

7,500

7,500

Retained earnings

340,801

281,886

348,301

289,386

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 7 July 2026 and were signed on its behalf by:

Mrs C B Buchan - Director

1.	STATUTORY INFORMATION

Memsie 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 represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Tangible fixed assets

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

Improvements to property

-

Straight line over 15 years

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stocks

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

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.

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 10 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2025

98,605

62,158

19,777

Additions

11,002

790

-

At 31 December 2025

109,607

62,948

19,777

DEPRECIATION

At 1 January 2025

43,535

50,428

17,327

Charge for year

7,248

1,878

490

At 31 December 2025

50,783

52,306

17,817

NET BOOK VALUE

At 31 December 2025

58,824

10,642

1,960

At 31 December 2024

55,070

11,730

2,450

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

25,903

9,797

216,240

Additions

-

2,415

14,207

At 31 December 2025

25,903

12,212

230,447

DEPRECIATION

At 1 January 2025

10,403

7,182

128,875

Charge for year

3,875

3,074

16,565

At 31 December 2025

14,278

10,256

145,440

NET BOOK VALUE

At 31 December 2025

11,625

1,956

85,007

At 31 December 2024

15,500

2,615

87,365

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

33,550

21,424

Other debtors

12,389

20,907

45,939

42,331

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

77,482

101,181

Taxation and social security

77,924

75,491

Other creditors

11,692

22,156

167,098

198,828

7.	RELATED PARTY DISCLOSURES

The directors operate current accounts with the company and as at the financial year end the combined balance owing to them was £1,020. There are no fixed terms of repayment and no interest is accrued. During the course of the financial year the directors had a combined balance of £8,396 owing to the company which was repaid in full by the financial year end.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs C B Buchan.