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Private Limited Company
03453956
2014-12-31
03453956
2014-01-01
2014-12-31
03453956
2013-12-31
03453956
2013-01-01
2013-12-31
03453956
uk-bus:Director1
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uk-gaap:CommercialMotorVehicles
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uk-gaap:FixturesFittings
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iso4217:GBP
| Mid-Wales Motorfactors Limited |
For the year ended 31 December 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03453956
2
Mid-Wales Motorfactors Limited
For the year ended 31 December 2014
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
3
| Abbreviated Balance Sheet |
Mid-Wales Motorfactors Limited
2014
2013
2
199,638
203,307
199,638
203,307
107,052
109,348
209,032
224,717
119,890
123,913
453,955
439,997
| Creditors: amounts falling due within one year |
(287,169)
(308,985)
152,828
144,970
Net current assets
| Total assets less current liabilities |
344,608
356,135
| Creditors: amounts falling due after more than one year |
(32,535)
-
344,608
Net assets
323,600
1,000
1,000
343,608
322,600
344,608
323,600
Shareholders funds
| For the year ended 31 December 2014 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: 01 May 2015 |
| Signed on behalf of the board of directors |
1 of 3
4
| Notes to the Abbreviated Financial Statements |
Mid-Wales Motorfactors Limited
For the year ended 31 December 2014
| 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. |
| 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: |
Motor Vehicles
Fixtures and Fittings
| No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected |
| useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation |
| would be immaterial. The directors undertake an annual impairment review of these properties. |
| 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. |
2 of 3
5
| Notes to the Abbreviated Financial Statements |
Mid-Wales Motorfactors Limited
For the year ended 31 December 2014
238,935
6,405
(7,895)
237,445
35,628
(2,705)
4,884
Charge for year
37,807
199,638
203,307
3 of 3
