Neil Harrod Auto Electrical Services Limited - Period Ending 2014-08-31

Registration number: 05535542

Neil Harrod Auto Electrical Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2014
 

Neil Harrod Auto Electrical Services Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Neil Harrod Auto Electrical Services Limited
(Registration number: 05535542)
Abbreviated Balance Sheet at 31 August 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					15,506			13,765
Investments					40,608			44,108
					56,114			57,873
Current assets
Stocks					2,538			2,293
Debtors					24,660			17,240
Cash at bank and in hand					29,246			44,829
					56,444			64,362
Creditors: Amounts falling due within one year					(59,953)			(63,607)
Net current (liabilities)/assets					(3,509)			755
Total assets less current liabilities					52,605			58,628
Creditors: Amounts falling due after more than one year					(6,131)			(11,181)
Provisions for liabilities					(5,075)			(3,989)
Net assets					41,399			43,458
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					41,299			43,358
Shareholders' funds					41,399			43,458

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Neil Harrod Auto Electrical Services Limited
(Registration number: 05535542)
Abbreviated Balance Sheet at 31 August 2014
......... continued

For the year ending 31 August 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 20 March 2015 and signed on its behalf by:

.........................................
SR Powell
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Neil Harrod Auto Electrical Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% per annum reducing balance basis
Office equipment	25% per annum reducing balance basis
Plant and machinery	15% per annum reducing balance basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Neil Harrod Auto Electrical Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 September 2013		35,282			44,108			79,390
Revaluations		-			(3,500)			(3,500)
Additions		5,875			-			5,875
Disposals		(7,106)			-			(7,106)
At 31 August 2014		34,051			40,608			74,659
Depreciation
At 1 September 2013		21,517			-			21,517
Charge for the year		3,188			-			3,188
Eliminated on disposals		(6,160)			-			(6,160)
At 31 August 2014		18,545			-			18,545
Net book value
At 31 August 2014		15,506			40,608			56,114
At 31 August 2013		13,765			44,108			57,873

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Neil Harrod Limited		Ordinary	100%	Maintenance and repair of motor vehicles

Page 4

Neil Harrod Auto Electrical Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 5