As at
Notes |
2016 £ |
2015 £ |
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Fixed assets | |||
Intangible assets: | 2 |
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Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: | 4 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 5 |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 6 |
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Provision for liabilities: |
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(
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Total net assets (liabilities): |
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The notes form part of these financial statements
As at 31 March 2016
Notes |
2016 £ |
2015 £ |
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Capital and reserves | |||
Called up share capital: | 7 |
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Profit and loss account: |
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Shareholders funds: |
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The financial statements were approved by the Board of Directors on
SIGNED ON BEHALF OF THE BOARD BY:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2016
Basis of measurement and preparation of accounts
Turnover policy
Tangible fixed assets depreciation policy
Leasehold improvements - over the term of the lease
Commercial vehicles - 25% of cost
Plant and equipment - 25% of cost
Intangible fixed assets amortisation policy
Other accounting policies
Debtors
Provision is made for debts where recovery is considered doubtful
Stocks
Stock is valued at the lower of cost and estimated net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
Pensions
The pension costs charged in the financial statements represent the contributions payable by the company during the year.
The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees’ service lives on the basis of a constant percentage of earnings.
Taxation
The charge for taxation is based on the profit for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise, based on current tax rates and law.
for the Period Ended 31 March 2016
Total | |
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Cost | £ |
01 April 2015: |
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Additions: |
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Disposals: |
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Revaluations: |
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Transfers: |
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31 March 2016: |
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Amortisation | |
01 April 2015: |
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Provided during the period: |
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On disposals: |
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Other Adjustments: |
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31 March 2016: |
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Net book value | |
31 March 2016: |
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31 March 2015: |
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for the Period Ended 31 March 2016
Total | |
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Cost | £ |
01 April 2015: |
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Additions: |
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Disposals: |
(
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Revaluations: |
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Transfers: |
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31 March 2016: |
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Depreciation | |
01 April 2015: |
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Charge for year: |
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On disposals: |
(
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Other adjustments: |
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31 March 2016: |
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Net book value | |
31 March 2016: |
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31 March 2015: |
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for the Period Ended 31 March 2016
2016 £ |
2015 £ |
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Trade debtors: |
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Other debtors: |
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Total: |
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for the Period Ended 31 March 2016
2016 £ |
2015 £ |
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Bank loans and overdrafts: |
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Amounts due under finance leases and hire purchase contracts: |
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Trade creditors: |
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Taxation and social security: |
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Accruals and deferred income: |
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Other creditors: |
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Total: |
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for the Period Ended 31 March 2016
2016 £ |
2015 £ |
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Bank loans and overdrafts: |
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Amounts due under finance leases and hire purchase contracts: |
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Total: |
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for the Period Ended 31 March 2016
Name of the ultimate controlling party during the period: |
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Additional information
The company also has related party transactions with Wheelsbrook Services Limited, a company controlled by Nigel Turner and Richard Turner, and which is a retailer and distributor of car parts. During the year the company acquired goods from Wheelsbrook Services Limited totalling £98,532 (2014:£34,154) and the balance owed to the company included in trade creditors was £12,209.
for the Period Ended 31 March 2016
Name of director receiving advance or credit |
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Description of the transaction |
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Balance at 01 April 2015 |
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Balance at 31 March 2016 |
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Name of director receiving advance or credit |
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Description of the transaction |
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Balance at 01 April 2015 |
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Balance at 31 March 2016 |
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