Company Registration No. 08431232 (England and Wales)
ARNCLIFFE GARAGE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ARNCLIFFE GARAGE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ARNCLIFFE GARAGE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,857
3,811
Current assets
Stocks
600
600
Debtors
4,616
15,622
Cash at bank and in hand
19,834
11,847
25,050
28,069
Creditors: amounts falling due within one year
(17,965)
(23,526)
Net current assets
7,085
4,543
Total assets less current liabilities
9,942
8,354
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
9,842
8,254
Shareholders' funds
9,942
8,354
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 22 December 2016
Mr J Wright
Ms J E Kamradt
Director
Director
Company Registration No. 08431232
ARNCLIFFE GARAGE 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
6,378
Depreciation
At 1 April 2015
2,567
Charge for the year
954
At 31 March 2016
3,521
Net book value
At 31 March 2016
2,857
At 31 March 2015
3,811
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100