Essex Coachworks Ltd 31/03/2019 iXBRL
Essex Coachworks Ltd 31/03/2019 iXBRL
Company registration number:
06395640
Unaudited filleted financial statements
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Directors and other information
Directors |
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Company number |
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Registered office |
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Business address |
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Accountants |
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16 Heronsgate Trading Estate | ||
Paycocke Road | ||
Basildon | ||
Essex | ||
SS14 3EU | ||
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Essex Coachworks Ltd
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Essex Coachworks Ltd for the year ended 31 March 2019 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
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/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Essex Coachworks Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Essex Coachworks Ltd and state those matters that we have agreed to state to the board of directors of Essex Coachworks Ltd 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/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Essex Coachworks Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Essex Coachworks Ltd 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 Essex Coachworks Ltd. You consider that Essex Coachworks Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Essex Coachworks Ltd. 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.
Chartered Certified Accountants
16 Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
24 July 2019
Statement of financial position
31 March 2019
2019 | 2018 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 | - | - | ||||||
Tangible assets | 6 |
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Current assets | |||||||||
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets |
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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 |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 July 2019
, and are signed on behalf of the board by:
Director
Company registration number:
06395640
Statement of changes in equity
Year ended 31 March 2019
Called up share capital | Profit and loss account | Total | |||
£ | £ | £ | |||
At 1 April 2017 |
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Profit for the year |
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Total comprehensive income for the year | - |
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Dividends paid and payable |
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Total investments by and distributions to owners | - |
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At 31 March 2018 and 1 April 2018 |
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Profit for the year |
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Total comprehensive income for the year | - |
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Dividends paid and payable |
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Total investments by and distributions to owners | - |
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At 31 March 2019 |
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Notes to the financial statements
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Heronsgate Trading Estate, Paycocke Road, Basildon, Essex, SS14 3EU.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill | - |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery | - |
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Fittings fixtures and equipment | - |
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Motor vehicles | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
14
(2018:
14
).
5.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 April 2018 and 31 March 2019 |
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Amortisation | |||
At 1 April 2018 and 31 March 2019 |
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Carrying amount | |||
At 31 March 2019 | - | - | |
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At 31 March 2018 | - | - | |
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6.
Tangible assets
Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | ||
Cost | |||||
At 1 April 2018 |
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Additions | 7,773 | - | - | 7,773 | |
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At 31 March 2019 |
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Depreciation | |||||
At 1 April 2018 |
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Charge for the year |
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At 31 March 2019 |
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Carrying amount | |||||
At 31 March 2019 |
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At 31 March 2018 |
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7.
Debtors
2019 | 2018 | |||
£ | £ | |||
Trade debtors |
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8.
Creditors: amounts falling due within one year
2019 | 2018 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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9.
Related party transactions
The directors have an interest free loan account with the company, which is repayable on demand. At 31st March 2019 the company owed the directors £23,054 (2018: £20,333).