Company Registration No. 06157103 (England and Wales)
CHEVINGTON FINANCE AND LEASING LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
CHEVINGTON FINANCE AND LEASING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CHEVINGTON FINANCE AND LEASING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
30,000
60,000
Tangible assets
2
290,411
172,791
320,411
232,791
Current assets
Debtors
3
5,363,641
5,047,242
Cash at bank and in hand
150
25
5,363,791
5,047,267
Creditors: amounts falling due within one year
(2,072,650)
(2,339,576)
Net current assets
3,291,141
2,707,691
Total assets less current liabilities
3,611,552
2,940,482
Creditors: amounts falling due after more than one year
(2,660,731)
(2,014,694)
950,821
925,788
Capital and reserves
Called up share capital
4
618,000
618,000
Profit and loss account
332,821
307,788
Shareholders' funds
950,821
925,788
For the financial year ended 31 March 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 15 September 2016
Mrs Debbie Morris
Director
Company Registration No. 06157103
CHEVINGTON FINANCE AND LEASING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents the gross interest included in the lease charges receivable in the accounting period and is net of VAT. This also includes the interest penalties and recoverable costs on agreements that have defaulted or have been repaid early.
1.4
Goodwill
Goodwill was purchased from Just Green Environmental Services Limited on 1 March 2012 for £150,000 This will be written off over 5 years at £30,000 a year starting from the year ended 31 March 2013 onwards.
This will be written off over 5 years at £30,000 a year starting from the year ended 31 March 2013 onwards.
1.5
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:
Fixtures, fittings & equipment
20% straight line basis
Motor vehicles
25% straight line basis
CHEVINGTON FINANCE AND LEASING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
150,000
354,944
504,944
Additions
-
215,181
215,181
Disposals
-
(44,151)
(44,151)
At 31 March 2016
150,000
525,974
675,974
Depreciation
At 1 April 2015
90,000
182,152
272,152
On disposals
-
(37,899)
(37,899)
Charge for the year
30,000
91,310
121,310
At 31 March 2016
120,000
235,563
355,563
Net book value
At 31 March 2016
30,000
290,411
320,411
At 31 March 2015
60,000
172,791
232,791
3
Debtors
Debtors include an amount of £4,283,801 (2015 - £3,479,049) which is due after more than one year.
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
550,000 Ordinary of £1 each
550,000
550,000
68,000 Preference of £1 each
68,000
68,000
618,000
618,000