For the year ended 31 May 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 06884857
Eddie Thomas Garage Ltd
For the year ended 31 May 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Eddie Thomas Garage Ltd
Accountants' Report
For the year ended 31 May 2015
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended
31
May
2015
and
|
you consider that the company is exempt from an audit under the Companies Act
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you to fulfil your statutory
|
responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
Patrick Barritt Tax Consultants Limited
Enfield House
Spring Gardens
Whitland
Carmarthenshire
SA34 0HP
1 of 4
Abbreviated Balance Sheet
|
Eddie Thomas Garage Ltd
2015
2014
2
19,000
19,000
3
7,861
9,881
26,861
28,881
3,507
3,709
-
9,200
27,225
26,627
40,134
30,134
Creditors
:
amounts falling due within one year
|
(43,422)
(65,607)
(13,288)
(25,473)
Net current liabilities
Total assets less current liabilities
|
1,388
15,593
1,388
Net assets
15,593
2
4
2
1,386
15,591
1,388
15,593
Shareholders funds
For the year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
|
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Date approved by the board: 11 February 2016
|
Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
|
Eddie Thomas Garage Ltd
For the year ended 31 May 2015
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the shareholders
|
prior to the balance sheet date
.
|
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
|
Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the estimated expected useful
|
economic life of the goodwill of
0
years
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Motor Vehicles
Fixtures and Fittings
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 4
Notes to the Abbreviated Financial Statements
|
Eddie Thomas Garage Ltd
For the year ended 31 May 2015
2
Intangible fixed assets
|
19,000
19,000
19,000
19,000
22,981
2,172
25,153
13,100
4,192
Charge for year
17,292
7,861
9,881
Allotted called up and fully paid
|
2015
2014
2
Ordianry shares of £
1
.
00
each
|
2
2
2
2
4 of 4