Graham Diack Motor Repairs Ltd
|
Registered number: |
SC232117
|
Abbreviated Balance Sheet |
as at 31 May 2016
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
5,887 |
|
|
5,681 |
|
Current assets |
Stocks |
|
|
2,570 |
|
|
2,570 |
Debtors |
|
|
13,065 |
|
|
17,615 |
Cash at bank and in hand |
|
|
139,997 |
|
|
119,642 |
|
|
|
155,632 |
|
|
139,827 |
|
Creditors: amounts falling due within one year |
|
|
(51,177) |
|
|
(44,749) |
|
Net current assets |
|
|
|
104,455 |
|
|
95,078 |
|
Net assets |
|
|
|
110,342 |
|
|
100,759 |
|
|
|
|
|
|
|
|
Capital and reserves |
Share premium |
|
|
|
10 |
|
|
10 |
Profit and loss account |
|
|
|
110,332 |
|
|
100,749 |
|
Shareholder's funds |
|
|
|
110,342 |
|
|
100,759 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
|
|
|
|
Mr G Diack |
Director |
Approved by the board on 10 November 2016
|
|
Graham Diack Motor Repairs Ltd
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Notes to the Abbreviated Accounts |
for the year ended 31 May 2016
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
|
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
33⅓% reducing balance
|
|
Motor vehicles |
33⅓% reducing balance
|
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 June 2015 |
32,246 |
|
Additions |
1,486 |
|
At 31 May 2016 |
33,732 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2015 |
26,565 |
|
Charge for the year |
1,280 |
|
At 31 May 2016 |
27,845 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2016 |
5,887 |
|
At 31 May 2015 |
5,681 |
|
|
|
|
|
|
|