North Street Garage Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04853112 (England and Wales)

NORTH STREET GARAGE LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST AUGUST 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

D J Ryan

P J Hayward

SECRETARY:

P J Hayward

REGISTERED OFFICE:

17 North Street

Lewes

East Sussex

BN7 2PE

REGISTERED NUMBER:

04853112 (England and Wales)

ACCOUNTANTS:

Clark Brownscombe Limited

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

FIXED ASSETS

Tangible assets

2

9,242

9,409

CURRENT ASSETS

Stocks

5,226

7,650

Debtors

22,787

25,911

Cash at bank

7,536

1,241

35,549

34,802

CREDITORS

Amounts falling due within one year

64,582

58,711

NET CURRENT LIABILITIES

(29,033

)

(23,909

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,791

)

(14,500

)

CAPITAL AND RESERVES

Called up share capital

3

4

4

Profit and loss account

(19,795

)

(14,504

)

SHAREHOLDERS' FUNDS

(19,791

)

(14,500

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26th May 2015 and were signed on its behalf by:

D J Ryan - Director

P J Hayward - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods and services, excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed that they

will continue to support the company for the foreseeable future.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2013

59,924

Additions

2,915

At 31st August 2014

62,839

DEPRECIATION

At 1st September 2013

50,515

Charge for year

3,082

At 31st August 2014

53,597

NET BOOK VALUE

At 31st August 2014

9,242

At 31st August 2013

9,409

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

4

Ordinary

£1

4

4

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of North Street Garage Limited for the year ended 31st August 2014 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of North Street Garage Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of North Street Garage Limited and state those matters that we have agreed to state to the Board of Directors of North Street Garage Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that North Street Garage Limited 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 North Street Garage Limited. You consider that North Street Garage Limited 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 North Street Garage Limited.

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.

Clark Brownscombe Limited

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

27th May 2015