REGISTERED NUMBER: SC681842 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Queen Street Auto Centre Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Mundt

REGISTERED OFFICE:

C/O McLay, McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

REGISTERED NUMBER:

SC681842 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Intangible assets

4

6,150

7,380

Tangible assets

5

17,763

27,518

23,913

34,898

CURRENT ASSETS

Stocks

9,500

-

Debtors

6

36,844

28,792

Cash at bank and in hand

17,858

24,194

64,202

52,986

CREDITORS

Amounts falling due within one year

7

(63,367

)

(55,487

)

NET CURRENT ASSETS/(LIABILITIES)

835

(2,501

)

TOTAL ASSETS LESS CURRENT LIABILITIES

24,748

32,397

CREDITORS

Amounts falling due after more than one year

8

(20,283

)

(25,327

)

PROVISIONS FOR LIABILITIES

(4,441

)

(6,864

)

NET ASSETS

24

206

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

23

205

24

206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2026 and were signed by:

G Mundt - Director

1.	STATUTORY INFORMATION

Queen Street Auto Centre Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

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 Income Statement, 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 3 (2025 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

12,300

AMORTISATION

At 1 April 2025

4,920

Charge for year

1,230

At 31 March 2026

6,150

NET BOOK VALUE

At 31 March 2026

6,150

At 31 March 2025

7,380

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

and 31 March 2026

55,495

DEPRECIATION

At 1 April 2025

27,977

Charge for year

9,755

At 31 March 2026

37,732

NET BOOK VALUE

At 31 March 2026

17,763

At 31 March 2025

27,518

The cost of assets held under hire purchase agreements was £48,300, and the net book value at the date of the accounts is £17,710.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

5,013

3,600

Other debtors

31,831

25,192

36,844

28,792

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts

5,044

5,044

Trade creditors

37,894

30,712

Taxation and social security

17,532

17,916

Other creditors

2,897

1,815

63,367

55,487

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts

20,283

25,327

9.	SECURED DEBTS

The hire purchase creditor is secured over the asset to which it relates.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the date of the accounts the director owed £31,831 to the company (2025: £25,192). The loan is interest free and repayable by 31 December 2026.