REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 JUNE 2015 |
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FOR |
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THE MOTORCYCLE WORKS CAMBRIDGE LTD |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 JUNE 2015 |
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FOR |
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THE MOTORCYCLE WORKS CAMBRIDGE LTD |
THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
THE MOTORCYCLE WORKS CAMBRIDGE LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2015 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765) |
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ABBREVIATED BALANCE SHEET |
30 JUNE 2015 |
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2015 | 2014 |
as restated |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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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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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 ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765) |
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ABBREVIATED BALANCE SHEET - continued |
30 JUNE 2015 |
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The financial statements were approved by the director on
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THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Changes in accounting policies |
During the year revenue has been split in to three categories; bike sales, parts and service sales and other income. |
Directors renumeration has also been reclassified as a direct cost. These changes were made for fairer |
presentation of the financial statements. |
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Turnover |
Turnover represents the net sale, servicing and repairs of motorcycles, excluding value added tax. As such |
revenue has been restated as bike sales, part and service sales and other income to increase the fairness and |
presentation of the financial statements. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful |
life. |
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Plant and machinery - 25% on reducing balance |
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Computer equipment - Straight line over 5 years |
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Motor vehicles - 25% on reducing balance |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
UK corporation tax is provided at amounts expected to be paid (or recovered) using tax rates and laws that have |
been enacted or substantively enacted at the balance sheet date. |
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Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the |
balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay |
more, or a right to pay less or to receive more tax, with the following exceptions: |
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Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not |
that there will be suitable taxable profits from which the future reversal of the underlying timing differences |
can be deducted. |
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Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in |
which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance |
sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2014 |
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Additions |
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At 30 June 2015 |
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DEPRECIATION |
At 1 July 2014 |
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Charge for year |
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At 30 June 2015 |
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NET BOOK VALUE |
At 30 June 2015 |
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At 30 June 2014 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | as restated |
£ | £ |
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Ordinary | £1 |
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