Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Clive Woolford Motor Engineers Ltd
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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 6 ) have been prepared.
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Clive Woolford Motor Engineers Ltd
for the Year Ended 30 November 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Clive Woolford Motor Engineers Ltd for the year ended 30 November 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 Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional- standards/rules-standards/acca-rulebook.html .
This report is made solely to the Board of Directors of Clive Woolford Motor Engineers Ltd , 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 Clive Woolford Motor Engineers Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical _factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clive Woolford Motor Engineers Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Clive Woolford Motor Engineers Ltd 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 Clive Woolford Motor Engineers Ltd. You consider that Clive Woolford Motor Engineers Ltd 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 Clive Woolford Motor Engineers Ltd. 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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Devereux & Hunt Ltd
Certified Accountants
29 Basepoint Business Centre
Oakfield Close
Tewkesbury
Glos
GL20 8SD
23 June 2016
Clive Woolford Motor Engineers Ltd
(Registration number: 06394719)
Abbreviated Balance Sheet at 30 November 2015
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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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Total assets less current liabilities |
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Provisions for liabilities |
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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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The directors' statements required by Sections 475(2) and (3) are shown on the following page which forms part
of this Balance Sheet.
2
Clive Woolford Motor Engineers Ltd
(Registration number: 06394719)
Abbreviated Balance Sheet at 30 November 2015
......... continued
Approved by the Board on
.........................................
Mr I Boskett
Director
3
Clive Woolford Motor Engineers Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued
Accounting policies |
Basis of preparation
Going concern
The directors consider the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Goodwill
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 |
Fixtures, fittings and equipment |
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Motor vehicles |
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Stock
Deferred tax
Clive Woolford Motor Engineers Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued
Hire purchase and leasing
Financial instruments
Pensions
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 December 2014 |
248,000 |
47,613 |
295,613 |
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Additions |
- |
1,780 |
1,780 |
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Disposals |
- |
(600) |
(600) |
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At 30 November 2015 |
248,000 |
48,793 |
296,793 |
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Depreciation |
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At 1 December 2014 |
144,669 |
25,902 |
170,571 |
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Charge for the year |
20,667 |
3,789 |
24,456 |
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Eliminated on disposals |
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(400) |
(400) |
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At 30 November 2015 |
165,336 |
29,291 |
194,627 |
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Net book value |
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At 30 November 2015 |
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At 30 November 2014 |
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Clive Woolford Motor Engineers Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued
Share capital |
Allotted, called up and fully paid shares
2015 |
2014 |
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No. |
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Ordinary F shares of £1.00 each |
1 |
1 |
1 |
1 |
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