Company Registration No. SC174685 (Scotland)
Dalziel's Garages (Leith) Limited
Unaudited accounts
for the year ended 30 June 2019
Dalziel's Garages (Leith) Limited
Unaudited accounts
Contents
Dalziel's Garages (Leith) Limited
Company Information
for the year ended 30 June 2019
Directors
Helen Ferry Scott
Nicola Walker
Secretary
Helen Ferry Scott
Company Number
SC174685 (Scotland)
Registered Office
17 East Cromwell Street
Leith
Edinburgh
Midlothian
EH6 6HD
Scotland
Accountants
Allsquare (Edinburgh) Ltd
Federation House
222-224 Queensferry Road
Edinburgh
EH4 2BN
Dalziel's Garages (Leith) Limited
Statement of financial position
as at 30 June 2019
Tangible assets
17,056
22,457
Cash at bank and in hand
35,637
71,221
Creditors: amounts falling due within one year
(23,418)
(41,127)
Net current assets
24,187
41,325
Total assets less current liabilities
41,243
63,782
Provisions for liabilities
Deferred tax
(5,293)
(4,267)
Called up share capital
400
400
Profit and loss account
35,550
59,115
Shareholders' funds
35,950
59,515
For the year ending 30 June 2019 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.
Approved by the Board on 7 October 2019.
Nicola Walker
Director
Company Registration No. SC174685
Dalziel's Garages (Leith) Limited
Notes to the Accounts
for the year ended 30 June 2019
Dalziel's Garages (Leith) Limited is a private company, limited by shares, registered in Scotland, registration number SC174685. The registered office is 17 East Cromwell Street, Leith, Edinburgh, Midlothian, EH6 6HD, Scotland.
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.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on cost
Motor vehicles
20% on cost
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Dalziel's Garages (Leith) Limited
Notes to the Accounts
for the year ended 30 June 2019
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2018
106,155
67,188
173,343
At 30 June 2019
106,938
67,188
174,126
At 1 July 2018
83,698
67,188
150,886
Charge for the year
6,184
-
6,184
At 30 June 2019
89,882
67,188
157,070
At 30 June 2019
17,056
-
17,056
At 30 June 2018
22,457
-
22,457
Finished goods
3,721
3,721
Accrued income and prepayments
4,133
4,161
7
Creditors: amounts falling due within one year
2019
2018
Trade creditors
12,900
17,882
Taxes and social security
8,871
20,705
Other creditors
1,647
1,240
Allotted, called up and fully paid:
400 Ordinary shares of £1 each
400
400
9
Average number of employees
During the year the average number of employees was 12 (2018: 14).
