Central Motors (Calderbank) Limited - Accounts

Central Motors (Calderbank) Limited - Accounts

CENTRAL MOTORS (CALDERBANK) LIMITED - Company Information

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Registered Number: SC032937
Scotland

 

 

 

CENTRAL MOTORS (CALDERBANK) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2021

End date: 28 February 2022

Central Motors (Calderbank) Limited
Contents Page
For the year ended 28 February 2022
Accountant’s report
You consider that the company is exempt from an audit for the year ended 28 February 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Limited
28 February 2022



....................................................
Turner Accountancy Limited
101 Park Street

Motherwell
ML1 1PF
09 June 2022
1
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 800,345    818,177 
800,345    818,177 
Current assets      
Stocks 9,292    17,801 
Debtors 68,384    32,865 
Cash at bank and in hand 320,875    393,540 
398,551    444,206 
Creditors: amount falling due within one year (25,869)   (9,284)
Net current assets 372,682    434,922 
 
Total assets less current liabilities 1,173,027    1,253,099 
Creditors: amount falling due after more than one year (37,752)   - 
Accruals and deferred income (18,480)   - 
Provisions for liabilities (211,462)   (213,960)
Net assets 905,333    1,039,139 
 

Capital and reserves 		     
Called up share capital 11,949    11,949 
Reserves 38,866    38,866 
Capital Redemption Reserve 4,331    4,331 
Profit and loss account 850,187    983,993 
Shareholder's funds 905,333    1,039,139 
 


For the year ended 28 February 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 09 June 2022 and were signed on its behalf by:


--------------------------------
Mr Angus Currie
Director
2
General Information
Central Motors (Calderbank) Limited is a private company, limited by shares, registered in Scotland, registration number SC032937, registration address 105 Carlisle Road, Airdrie, , ML6 8AG

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Straight Line
Fixtures and Fittings 10% Straight Line
Improvements to property 3% Straight Line
Land and Buildings 3% Straight Line
Motor Vehicles 25% Straight Line
Plant and Machinery 10% Straight Line
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2021 : 6).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Investment properties   Improvements to property   Total
  £   £   £   £   £   £   £   £
At 01 March 2021 221,311    146,475    98,059    66,459    45,262    713,934    11,842    1,303,342 
Additions -    -    -    -    -    -    -    - 
Disposals -    -    -    -    -    -    -    - 
At 28 February 2022 221,311    146,475    98,059    66,459    45,262    713,934    11,842    1,303,342 
Depreciation
At 01 March 2021 160,750    119,468    92,061    64,950    44,976    -    2,960    485,165 
Charge for year 5,045    5,978    5,997    230    286    -    296    17,832 
On disposals -    -    -    -    -    -    -    - 
At 28 February 2022 165,795    125,446    98,058    65,180    45,262    -    3,256    502,997 
Net book values
Closing balance as at 28 February 2022 55,516    21,029    1    1,279    -    713,934    8,586    800,345 
Opening balance as at 01 March 2021 60,561    27,007    5,998    1,509    286    713,934    8,882    818,177 


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