Peterhead Motors Limited - Accounts to registrar (filleted) - small 18.2
Peterhead Motors Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2022 |
| for |
| Peterhead Motors Limited |
| Peterhead Motors Limited (Registered number: SC113777) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Peterhead Motors Limited |
| Company Information |
| for the Year Ended 31 January 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| Glebefield House |
| 21 Links Terrace |
| Peterhead |
| Aberdeenshire |
| AB42 2XA |
| Peterhead Motors Limited (Registered number: SC113777) |
| Balance Sheet |
| 31 January 2022 |
| 31.1.22 | 31.1.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Investments | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings | 768,507 | 605,643 |
| SHAREHOLDERS' FUNDS | 11 |
| 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. |
| Peterhead Motors Limited (Registered number: SC113777) |
| Balance Sheet - continued |
| 31 January 2022 |
| 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 |
| Peterhead Motors Limited (Registered number: SC113777) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2022 |
| 1. | STATUTORY INFORMATION |
| Peterhead Motors Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative costs. |
| 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. |
| Peterhead Motors Limited (Registered number: SC113777) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor | Computer |
| property | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 February 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 January 2022 |
| DEPRECIATION |
| At 1 February 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 January 2022 |
| NET BOOK VALUE |
| At 31 January 2022 |
| At 31 January 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.22 | 31.1.21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CURRENT ASSET INVESTMENTS |
| 31.1.22 | 31.1.21 |
| £ | £ |
| Unlisted investments | 114,443 | 106,756 |
| Peterhead Motors Limited (Registered number: SC113777) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2022 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.22 | 31.1.21 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.1.22 | 31.1.21 |
| £ | £ |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | 2,852 | - |
| 9. | SECURED DEBTS |
| Bank borrowings are secured by means of a standard security over the company's heritable property in and assets. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The directors are the ultimate controlling party by virtue of their majority shareholding. |
| 11. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
| 31.1.22 | 31.1.21 |
| £ | £ |
| Profit for the financial year |
| Dividends | ( |
) | ( |
) |
| 162,864 | 181,630 |
| Payments to acquire own shares | - | (93,000 | ) |
| Opening shareholders' funds | - | 557,013 |
| Net addition to shareholders' funds | 162,864 | 645,643 |
| Opening shareholders' funds | 645,643 | - |
| Closing shareholders' funds | 808,507 | 645,643 |