Company Registration No. 04836762 (England and Wales)
SPRINGFIELD GARAGE (THIRSK) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
SPRINGFIELD GARAGE (THIRSK) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SPRINGFIELD GARAGE (THIRSK) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
52,106
8,992
Current assets
Stocks
2,500
2,450
Debtors
26,218
20,440
Cash at bank and in hand
182,205
191,828
210,923
214,718
Creditors: amounts falling due within one year
(67,450)
(53,322)
Net current assets
143,473
161,396
Total assets less current liabilities
195,579
170,388
Provisions for liabilities
(10,421)
(1,798)
185,158
168,590
Capital and reserves
Called up share capital
3
50
50
Other reserves
50
50
Profit and loss account
185,058
168,490
Shareholders' funds
185,158
168,590
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 19 July 2016
Mr M Ellis
Mrs A T Ellis
Director
Director
Company Registration No. 04836762
SPRINGFIELD GARAGE (THIRSK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stock
Stock and work in progress are valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015
18,775
Additions
52,478
Disposals
(4,000)
At 30 April 2016
67,253
Depreciation
At 1 May 2015
9,784
On disposals
(2,313)
Charge for the year
7,676
At 30 April 2016
15,147
Net book value
At 30 April 2016
52,106
At 30 April 2015
8,992
SPRINGFIELD GARAGE (THIRSK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
50 Ordinary of £1 each
50
50
4
Related party relationships and transactions
Other transactions
Included in other creditors at 30 April 2016 is a loan from the directors of £49,224 (2015 - £23,972).