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Unaudited Financial Statements for the Year Ended 31st March 2016 |
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Dunlop's Auto Shop Limited |
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Unaudited Financial Statements for the Year Ended 31st March 2016 |
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for |
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Dunlop's Auto Shop Limited |
Dunlop's Auto Shop Limited (Registered number: SC048500) |
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Contents of the Financial Statements |
for the Year Ended 31st March 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Certified Accountants' Report | 8 |
Dunlop's Auto Shop Limited |
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Company Information |
for the Year Ended 31st March 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Second Floor |
Park Lane House |
47 Broad Street |
Glasgow |
Lanarkshire |
G40 2QW |
Dunlop's Auto Shop Limited (Registered number: SC048500) |
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Balance Sheet |
31st March 2016 |
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2015 | 2016 |
£ | Notes | £ |
FIXED ASSETS |
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Tangible assets | 4 |
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CURRENT ASSETS |
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Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
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) | Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
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Amounts falling due after more than one
year |
7 |
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) | PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
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Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Dunlop's Auto Shop Limited (Registered number: SC048500) |
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Balance Sheet - continued |
31st March 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Dunlop's Auto Shop Limited (Registered number: SC048500) |
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Notes to the Financial Statements |
for the Year Ended 31st March 2016 |
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1. | STATUTORY INFORMATION |
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Dunlop's Auto Shop Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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I confirm that in accordance with the Financial Reporting Council’s recommendations that I have carried out a |
rigorous assessment of the company and have reached a view after that assessment that the company is entitled |
to be considered a going concern and that these accounts properly reflect that status as a basis for preparation of |
the accounts. |
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In completing my assessment, I have considered a period of time which is greater than 1 year from today's date. |
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Based upon my assessment, I consider that the disclosure in the accounts is balanced, proportionate and clear and |
reflects the facts as established during my assessment of the next twelve months. |
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Turnover |
Turnover is the amount derived from the ordinary activities of the company, after trade discounts and excluding |
value added tax. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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 |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
Dunlop's Auto Shop Limited (Registered number: SC048500) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st March 2016 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and |
Totals | property | machinery |
£ | £ | £ |
COST |
At 1st April 2015 |
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Additions |
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At 31st March 2016 |
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DEPRECIATION |
At 1st April 2015 |
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Charge for year |
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At 31st March 2016 |
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NET BOOK VALUE |
At 31st March 2016 |
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At 31st March 2015 |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment |
£ | £ | £ |
COST |
At 1st April 2015 |
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Additions |
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At 31st March 2016 |
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DEPRECIATION |
At 1st April 2015 |
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Charge for year |
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At 31st March 2016 |
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NET BOOK VALUE |
At 31st March 2016 |
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At 31st March 2015 |
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Dunlop's Auto Shop Limited (Registered number: SC048500) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st March 2016 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1st April 2015 |
and 31st March 2016 |
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DEPRECIATION |
At 1st April 2015 |
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Charge for year |
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At 31st March 2016 |
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NET BOOK VALUE |
At 31st March 2016 |
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At 31st March 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
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Dunlop's Auto Shop Limited (Registered number: SC048500) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st March 2016 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Hire purchase contracts | 3,288 | 7,886 |
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A bond and floating charge was created in April 2004 over the whole property and undertaking and assets of the |
company to the extent of the Company's liabilities to The Royal Bank of Scotland plc. |
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9. | RELATED PARTY DISCLOSURES |
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F R Dunlop |
A director of Dunlop's Auto Shops Ltd |
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During the year amounts were drawn by the director amounting to £8,751 (2015: £5,498). These were payments |
for his personal vehicle. Dividends were credited to the account amounting to £9690 (2015: £4800) and other |
cash sums drawn were in total £Nil (2015: £420). |
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The loan is interest free and there is no fixed date for repayment. No amounts have been written off. |
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2016 | 2015 |
£ | £ |
Amount due from related party at the balance sheet date | 65,827 | 66,766 |
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Dunlop Property |
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A partnership in which the directors are the partners |
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During the year, rents for the trading premises were paid to Dunlop property amounting to £19,200 (2015: |
£19200). |
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S Dunlop |
A director of the company |
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During the year dividends were credited to his account, amounting to £Nil (2015: £2330) and monies withdrawn |
- a number of small personal transactions - in total £290 (2015: £732). |
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The loan is interest free and there is no fixed date for repayment. No amounts have been written off. |
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2016 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date | 51,158 | 51,448 |
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10. | FIRST YEAR ADOPTION |
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The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention |
and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008) as at 1st |
January 2014. |
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Chartered Certified Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Dunlop's Auto Shop Limited |
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The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Dunlop's Auto Shop Limited for the year ended 31st March 2016 which comprise the Income |
Statement, Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Dunlop's Auto Shop Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dunlop's Auto Shop Limited and state those matters that we have agreed to state to the Board of Directors of Dunlop's Auto Shop Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Dunlop's Auto Shop Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dunlop's Auto Shop Limited. You consider that Dunlop's Auto Shop Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Dunlop's Auto Shop 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 financial statements. |
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Second Floor |
Park Lane House |
47 Broad Street |
Glasgow |
Lanarkshire |
G40 2QW |
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