true
Gareth J Hughes (Motors) Limited
01654861
2016-10-31
416412
372950
417172
373710
760
760
417172
373710
9186
6733
89175
0
515533
380443
332304
247085
694885
767063
1027189
1014148
478412
390246
547784
547462
993
76440
183229
133358
183229
133358
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Depreciation
No depreciation is provided for on land.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Land & Buildings
on a straight line basis
0.0200
Plant & Machinery
on a reducing balance basis
0.1500
Fixtures & Fittings
on a reducing balance basis
0.1500
Motor Vehicles
on a reducing balance basis
0.2500
428803
366381
62422
245574
233023
12551
428803
366381
62422
245574
233023
12551
89175
0
27043
0
Ordinary
1
380
380
380
Ordinary A
1
320
320
320
Ordinary B
1
20
20
20
Ordinary C
1
20
20
20
Ordinary D
1
20
20
20
Creditors: Amounts falling due within one year
The following liabilities disclosed under creditors falling due within one year are secured by the company: Bank loans and overdrafts £27,883 (2015 £126,312), Hire purchase and stocking loans 2016 £544,887 (2015 £503,843)
2017-03-27
Mr GJ Hughes
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Gareth J Hughes (Motors) Limited
2015-11-01
2016-10-31
Gareth J Hughes (Motors) Limited
2014-11-01
2015-10-31
Gareth J Hughes (Motors) Limited
2014-10-31
Gareth J Hughes (Motors) Limited
2015-10-31
Gareth J Hughes (Motors) Limited
2015-10-31
Gareth J Hughes (Motors) Limited
2016-10-31
2017-03-28