Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Days Garage Limited
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4 ) have been prepared.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Days Garage Limited
for the Year Ended 31 July 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Days Garage Limited for the year ended 31 July 2015 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook .
This report is made solely to the Board of Directors of Days Garage Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Days Garage Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Days Garage Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Days Garage Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Days Garage Limited. You consider that Days Garage Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Days Garage Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Carter Nicholls Ltd
Victoria House
Staplefield Lane
Staplefield
West Sussex
RH17 6AS
12 November 2015
Days Garage Limited
(Registration number: 03200221)
Abbreviated Balance Sheet at 31 July 2015
Note |
2015
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2014
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Fixed assets |
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Intangible fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
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Mr I J Stamp
Director
2
Days Garage Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued
Accounting policies |
Basis of preparation
Turnover
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Improvements to premises |
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Plant & machinery |
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Fixtures & fittings |
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Motor vehicles |
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Equipment |
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Stock
Hire purchase and leasing
Days Garage Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued
Financial instruments
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 August 2014 |
55,000 |
176,004 |
231,004 |
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Additions |
- |
2,663 |
2,663 |
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At 31 July 2015 |
55,000 |
178,667 |
233,667 |
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Depreciation |
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At 1 August 2014 |
40,000 |
129,343 |
169,343 |
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Charge for the year |
2,750 |
7,398 |
10,148 |
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At 31 July 2015 |
42,750 |
136,741 |
179,491 |
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Net book value |
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At 31 July 2015 |
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At 31 July 2014 |
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Share capital |
Allotted, called up and fully paid shares
2015 |
2014 |
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No. |
£ |
No. |
£ |
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