Company Registration No. 04836762 (England and Wales)
SPRINGFIELD GARAGE (THIRSK) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2015
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 2015
30 April 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
8,992
5,803
Current assets
Stocks
2,450
1,500
Debtors
20,440
34,166
Cash at bank and in hand
191,828
157,691
214,718
193,357
Creditors: amounts falling due within one year
(53,322)
(45,934)
Net current assets
161,396
147,423
Total assets less current liabilities
170,388
153,226
Provisions for liabilities
(1,798)
168,590
153,226
Capital and reserves
Called up share capital
3
50
50
Other reserves
50
50
Profit and loss account
168,490
153,126
Shareholders' funds
168,590
153,226
For the financial year ended 30 April 2015 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 24 July 2015
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 2015
- 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 April 2008).
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 2014
13,005
Additions
5,770
At 30 April 2015
18,775
Depreciation
At 1 May 2014
7,201
Charge for the year
2,582
At 30 April 2015
9,783
Net book value
At 30 April 2015
8,992
At 30 April 2014
5,803
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
50 Ordinary of £1 each
50
50
SPRINGFIELD GARAGE (THIRSK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2015
- 3 -
4
Related party relationships and transactions
Other transactions
Included in other creditors at 30 April 2015 is a loan from the directors of £23,972 (2014 - £12,500).