Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
A & G Garages Limited
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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 5 ) have been prepared.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A & G Garages Limited
for the Year Ended 31 March 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A & G Garages Limited for the year ended 31 March 2016 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 Institute of Chartered Accountants in England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook .
This report is made solely to the Board of Directors of A & G Garages Limited, 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 A & G Garages Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & G Garages Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that A & G Garages Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of A & G Garages Limited. You consider that A & G Garages Limited 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 A & G Garages Limited. 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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Bright Partnership LLP
Chartered Accountants & Business Advisors
Yarmouth House
Trident Business Park
Daten Avenue
Warrington
WA3 6BX
21 September 2016
A & G Garages Limited
(Registration number: 06855328)
Abbreviated Balance Sheet at 31 March 2016
Note |
2016
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2015
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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 liabilities |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net liabilities |
( |
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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' deficit |
( |
( |
Approved by the Board on
2
A & G Garages Limited
(Registration number: 06855328)
Abbreviated Balance Sheet at 31 March 2016
......... continued
.........................................
Mr Dornu Narnor
Director
3
A & G Garages Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued
Accounting policies |
Basis of preparation
Going concern
During the year to 31st March 2015, the company made a net loss of £78,119 (2014 : £21,024). As at 31st March 2015 the company had net liability’s of £201,512 (2014 : 123,393). On this basis, the company is reliant on the continued financial support of the directors.
Turnover
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.
Asset class |
Amortisation method and rate |
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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 |
Plant and machinery |
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Motor vehicles |
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Stock
Deferred tax
Hire purchase and leasing
A & G Garages Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued
Financial instruments
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 April 2015 |
28,833 |
96,461 |
125,294 |
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Additions |
- |
10,987 |
10,987 |
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Disposals |
- |
(15,380) |
(15,380) |
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At 31 March 2016 |
28,833 |
92,068 |
120,901 |
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Depreciation |
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At 1 April 2015 |
8,644 |
47,260 |
55,904 |
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Charge for the year |
1,440 |
12,974 |
14,414 |
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Eliminated on disposals |
- |
(9,581) |
(9,581) |
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At 31 March 2016 |
10,084 |
50,653 |
60,737 |
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Net book value |
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At 31 March 2016 |
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At 31 March 2015 |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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