Company Registration No. SC264274 (Scotland)
Angus Lambie Motor Engineers Limited
Unaudited accounts
for the year ended 31 March 2023
Angus Lambie Motor Engineers Limited
Unaudited accounts
Contents
Angus Lambie Motor Engineers Limited
Company Information
for the year ended 31 March 2023
Company Number
SC264274 (Scotland)
Registered Office
Arran Accountants
Alexanders
Brodick
Isle of Arran
KA27 8AJ
Accountants
Arran Accountancy Limited
Alexanders
Brodick
Isle of Arran
KA27 8HF
Angus Lambie Motor Engineers Limited
Statement of financial position
as at 31 March 2023
Tangible assets
189,033
105,508
Cash at bank and in hand
50,807
39,759
Creditors: amounts falling due within one year
(40,653)
(53,229)
Net current assets
58,073
27,413
Total assets less current liabilities
247,106
132,921
Creditors: amounts falling due after more than one year
(62,349)
(18,666)
Provisions for liabilities
Deferred tax
(27,437)
(23,770)
Called up share capital
2
2
Profit and loss account
157,318
90,483
Shareholders' funds
157,320
90,485
For the year ending 31 March 2023 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 director acknowledges his 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 and authorised for issue on 11 October 2023 and were signed on its behalf by
Angus Lambie
Director
Company Registration No. SC264274
Angus Lambie Motor Engineers Limited
Notes to the Accounts
for the year ended 31 March 2023
Angus Lambie Motor Engineers Limited is a private company, limited by shares, registered in Scotland, registration number SC264274. The registered office is Arran Accountants, Alexanders, Brodick , Isle of Arran , KA27 8AJ.
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
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Angus Lambie Motor Engineers Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
55,113
153,431
208,544
Additions
6,403
148,865
155,268
Disposals
-
(62,897)
(62,897)
At 31 March 2023
61,516
239,399
300,915
At 1 April 2022
50,904
52,132
103,036
Charge for the year
1,453
30,222
31,675
On disposals
-
(22,829)
(22,829)
At 31 March 2023
52,357
59,525
111,882
At 31 March 2023
9,159
179,874
189,033
At 31 March 2022
4,209
101,299
105,508
Amounts falling due within one year
Trade debtors
17,485
17,425
Angus Lambie Motor Engineers Limited
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
22,893
5,895
Trade creditors
16,179
24,911
Taxes and social security
717
13,230
Loans from directors
(1,116)
394
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
49,577
-
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 6 (2022: 6).