Abbreviated Company Accounts - ICHTHUS MOTOR SERVICES LIMITED

Abbreviated Company Accounts - ICHTHUS MOTOR SERVICES LIMITED

ICHTHUS MOTOR SERVICES LIMITED - Company Information

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Registered Number 02722611

ICHTHUS MOTOR SERVICES LIMITED

Abbreviated Accounts

31 May 2014

ICHTHUS MOTOR SERVICES LIMITED Registered Number 02722611

Abbreviated Balance Sheet as at 31 May 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 36,000 40,000
Tangible assets 3 2,984 3,979
38,984 43,979
Current assets
Stocks 15,568 16,258
Debtors 3,433 359
Cash at bank and in hand 89,698 76,357
108,699 92,974
Creditors: amounts falling due within one year (69,078) (59,679)
Net current assets (liabilities) 39,621 33,295
Total assets less current liabilities 78,605 77,274
Total net assets (liabilities) 78,605 77,274
Capital and reserves
Called up share capital 2 2
Profit and loss account 78,603 77,272
Shareholders' funds 78,605 77,274
  • For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • 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.

Approved by the Board on 26 February 2015

And signed on their behalf by:
Dr L R Carne, Director

ICHTHUS MOTOR SERVICES LIMITED Registered Number 02722611

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied
during the year, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost of fixed assets, less their estimated residual value, over their
expected useful lives on the following bases:
Plant & machinery - 25% reducing balance
Office equipment - 25% reducing balance

Intangible assets amortisation policy
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value
of the identifiable assets and liabilities. It is amortised to the Profit and loss account over its
estimated economic life.

2Intangible fixed assets
£
Cost
At 1 June 2013 80,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2014 80,000
Amortisation
At 1 June 2013 40,000
Charge for the year 4,000
On disposals -
At 31 May 2014 44,000
Net book values
At 31 May 2014 36,000
At 31 May 2013 40,000
3Tangible fixed assets
£
Cost
At 1 June 2013 37,967
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2014 37,967
Depreciation
At 1 June 2013 33,988
Charge for the year 995
On disposals -
At 31 May 2014 34,983
Net book values
At 31 May 2014 2,984
At 31 May 2013 3,979