Registered Number 08321869
DRIVING SCHOOLS SUPPLIES LIMITED
Abbreviated Accounts
31 December 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year | 4 |
( |
( |
Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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( |
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Accruals and deferred income |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 5 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Turnover is recognised at the point that the risks and rewards of the stocks have passed to
the customer.
Tangible assets depreciation policy
acquisition. Tangible fixed assets are stated at historic purchase cost less accumulated
depreciation.
Depreciation is calculated so as to write off the cost of tangible fixed assets, less their
estimated residual values, on a straight line basis over the expected useful economic lives of
the assets concerned, as follows:
Equipment 3 years
Intangible assets amortisation policy
consideration given over the fair value of the identifiable net assets acquired, is capitalised
and amortised on a straight line basis over its useful economic life. Goodwill is amortised
over 10 years being the estimated useful life of the customer relationships.
The company evaluates the carrying value of goodwill in each financial year to determine if
there has been an impairment in value, which would result in the inability to recover the
carrying amount. When it is determined that the carrying value exceeds the recoverable
amount, the excess is written off to the profit and loss account.
Valuation information and policy
in first out basis. Net realisable value is the price at which stock can be sold in the normal
course of business after allowing for the costs of realisation. Where necessary, provision is
made for obsolete, slow moving and defective stocks.
£ | |
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Cost | |
At 1 January 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2015 |
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Amortisation | |
At 1 January 2015 |
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Charge for the year |
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On disposals |
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At 31 December 2015 |
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Net book values | |
At 31 December 2015 | 27,000 |
At 31 December 2014 | 30,375 |
£ | |
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Cost | |
At 1 January 2015 |
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Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 December 2015 |
|
Depreciation | |
At 1 January 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 December 2015 |
|
Net book values | |
At 31 December 2015 | 3,050 |
At 31 December 2014 | 6,101 |
2015
£ |
2014
£ |
|
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Secured Debts |
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6 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 January 2015: | £ |
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Advances or credits made: |
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Advances or credits repaid: | £ |
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Balance at 31 December 2015: | £ |