Company Registration No. SC594513 (Scotland)
Burnside Motor Co (Duntocher) Ltd
Unaudited accounts
for the year ended 31 March 2020
Burnside Motor Co (Duntocher) Ltd
Unaudited accounts
Contents
Burnside Motor Co (Duntocher) Ltd
Company Information
for the year ended 31 March 2020
Directors
Derek David Stevely
Sam Fitzsimmons
Company Number
SC594513 (Scotland)
Registered Office
Dumbarton Road
Hardgate
Clydebank
G81 6AT
Accountants
J A Meikle
22 Landsborough Drive
Kilmarnock
Ayrshire
KA3 1RY
Burnside Motor Co (Duntocher) Ltd
Statement of financial position
as at
31 March 2020
Tangible assets
11,861
3,600
Cash at bank and in hand
66,928
62,459
Creditors: amounts falling due within one year
(24,695)
(29,533)
Net current assets
44,553
34,986
Total assets less current liabilities
56,414
38,586
Provisions for liabilities
Deferred tax
(2,110)
(684)
Called up share capital
100
100
Profit and loss account
54,204
37,802
Shareholders' funds
54,304
37,902
For the year ending 31 March 2020 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.
The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2020 and were signed on its behalf by
Derek David Stevely
Director
Company Registration No. SC594513
Burnside Motor Co (Duntocher) Ltd
Notes to the Accounts
for the year ended 31 March 2020
Burnside Motor Co (Duntocher) Ltd is a private company, limited by shares, registered in Scotland, registration number SC594513. The registered office is Dumbarton Road, Hardgate, Clydebank, G81 6AT.
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.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Depreciation on fixed assets is provided at rates calculated to write off the cost of each asset, less the estimated residual value, over the expected useful life.
Plant and equipment 20%
Turnover is stated at the VAT exclusive value of services supplied in the period
The company operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme
Deferred tax is accounted for under the liability method in respect of the taxation effects of all timing differences which are expected to reverse in the future, calculated at the rate at which it is estimated that the tax will be payable
Burnside Motor Co (Duntocher) Ltd
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2019
4,500
-
4,500
Additions
11,139
375
11,514
At 31 March 2020
15,639
375
16,014
At 1 April 2019
900
-
900
Charge for the year
3,128
125
3,253
At 31 March 2020
4,028
125
4,153
At 31 March 2020
11,611
250
11,861
At 31 March 2019
3,600
-
3,600
Raw materials
1,200
1,200
7
Creditors: amounts falling due within one year
2020
2019
Trade creditors
394
1,308
Taxes and social security
21,127
24,895
An obligation exists to pay £24,000 for Goodwill, contingent on S Fitzsimmons' ceasing to be an employee or director of the company.
S Fitzsimmons' employment ended in July 20. He resigned as a Director and as the Company Secretary on 5th August 2020.
9
Average number of employees
During the year the average number of employees was 3 (2019: 3).