Registered Number 07810192
HORWELL AUTO SERVICES LIMITED
Abbreviated Accounts
31 October 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
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 (liabilities) |
( |
( |
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Total assets less current liabilities |
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|
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Creditors: amounts falling due after more than one year |
( |
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Total net assets (liabilities) |
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|
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Office equipment - 25% reducing balance
Intangible assets amortisation policy
Other accounting policies
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Operating leases
Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.
£ | |
---|---|
Cost | |
At 1 November 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 October 2016 |
|
Amortisation | |
At 1 November 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 October 2016 |
|
Net book values | |
At 31 October 2016 | 15,900 |
At 31 October 2015 | 16,960 |
£ | |
---|---|
Cost | |
At 1 November 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 October 2016 |
|
Depreciation | |
At 1 November 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 October 2016 |
|
Net book values | |
At 31 October 2016 | 26,236 |
At 31 October 2015 | 4,196 |