CHARING CROSS CARS LIMITED


Director	RANKIN, Graeme Mcnaught


Company Secretary	RANKIN, Graeme Mcnaught


Registered Address	86 St. Andrews Drive
	Bridge Of Weir
	PA11 3JD


Registered Number	SC213715 (Scotland)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		567		909
Investment property	4		269,880		-
			270,447		909
Current assets
Stocks	5	262,024		150,773
Debtors	6	57,821		44,670
Cash at bank and on hand		76,344		129,135
		396,189		324,578
Creditors amounts falling due within one year	7	(371,291)		(197,090)
Net current assets (liabilities)			24,898		127,488
Total assets less current liabilities			295,345		128,397
Creditors amounts falling due after one year	8		(169,260)		(3,334)
Provisions for liabilities			(142)		(227)
Net assets			125,943		124,836
Capital and reserves
Called up share capital			300		300
Other reserves			850		850
Profit and loss account			124,793		123,686
Shareholders' funds			125,943		124,836

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 25 August 2026, and are signed on its behalf by:

RANKIN, Graeme Mcnaught
Director
Registered Company No. SC213715

CHARING CROSS CARS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Fixtures and fittings	4

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	3		3

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 April 25	3,621	3,621
At 31 March 26	3,621	3,621
Depreciation and impairment
At 01 April 25	2,712	2,712
Charge for year	342	342
At 31 March 26	3,054	3,054
Net book value
At 31 March 26	567	567
At 31 March 25	909	909

4.	Investment property
	The company's investment properties are held for use under operating leases. The fair value of the investment properties at the year end has been arrived at on the basis of a valuation carried out by the company's directors, who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the properties are situated.

Investment property

The company's investment properties are held for use under operating leases. The fair value of the investment properties at the year end has been arrived at on the basis of a valuation carried out by the company's directors, who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the properties are situated.


		£
	Additions	269,880
	At 31 March 26	269,880

5.	Stocks

	2026	2025
	£	£
Other stocks	262,024	150,773
Total	262,024	150,773

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	54,463	44,670
Other debtors	3,358	-
Total	57,821	44,670

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	10,371	976
Bank borrowings and overdrafts	27,695	20,000
Taxation and social security	54,140	48,705
Other creditors	279,085	127,409
Total	371,291	197,090

8.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	169,260	3,334
Total	169,260	3,334

9.	Secured creditors
	Bank loans and investment property are secured by way of a fixed and floating charge in favour of Royal Bank of Scotland.

10.	Related party transactions
	During the year the director had a loan account with the company. At the balance sheet date the company owed the director £162,275 (2025 - £91,214), This loan is unsecured, interest free and repayable upon demand. The company also had transactions during the year with a company with a common director and shareholder as follows: At the balance sheet date the company owed this company £113,965 (2025 - £33,965). This amount is unsecured, repayable on demand and interest free. Management charges of £4,900 (2025 - £5,760) were also received from this company during the year.

10.

Related party transactions

During the year the director had a loan account with the company. At the balance sheet date the company owed the director £162,275 (2025 - £91,214), This loan is unsecured, interest free and repayable upon demand.

The company also had transactions during the year with a company with a common director and shareholder as follows: At the balance sheet date the company owed this company £113,965 (2025 - £33,965). This amount is unsecured, repayable on demand and interest free. Management charges of £4,900 (2025 - £5,760) were also received from this company during the year.