Abbreviated Company Accounts - ACTION GARAGE MIDLAND LIMITED

Abbreviated Company Accounts - ACTION GARAGE MIDLAND LIMITED

ACTION GARAGE MIDLAND LIMITED - Company Information

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Registered Number 07382743

ACTION GARAGE MIDLAND LIMITED

Abbreviated Accounts

30 September 2014

ACTION GARAGE MIDLAND LIMITED Registered Number 07382743

Abbreviated Balance Sheet as at 30 September 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 4,500 5,250
Tangible assets 3 7,408 8,839
11,908 14,089
Current assets
Stocks 3,500 3,889
Debtors 2,999 3,566
Cash at bank and in hand 4,942 4,014
11,441 11,469
Creditors: amounts falling due within one year (19,050) (6,044)
Net current assets (liabilities) (7,609) 5,425
Total assets less current liabilities 4,299 19,514
Creditors: amounts falling due after more than one year - (16,701)
Total net assets (liabilities) 4,299 2,813
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,298 2,812
Shareholders' funds 4,299 2,813
  • For the year ending 30 September 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 June 2015

And signed on their behalf by:
F. A. Douglas, Director

ACTION GARAGE MIDLAND LIMITED Registered Number 07382743

Notes to the Abbreviated Accounts for the period ended 30 September 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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Plant and Machinery - 15% reducing balance
Motor vehicles - 25% reducing balance

Intangible assets amortisation policy
Intangible assets - 10% straight line

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

2Intangible fixed assets
£
Cost
At 1 October 2013 7,500
Additions -
Disposals -
Revaluations -
Transfers -
At 30 September 2014 7,500
Amortisation
At 1 October 2013 2,250
Charge for the year 750
On disposals -
At 30 September 2014 3,000
Net book values
At 30 September 2014 4,500
At 30 September 2013 5,250
3Tangible fixed assets
£
Cost
At 1 October 2013 14,350
Additions -
Disposals -
Revaluations -
Transfers -
At 30 September 2014 14,350
Depreciation
At 1 October 2013 5,511
Charge for the year 1,431
On disposals -
At 30 September 2014 6,942
Net book values
At 30 September 2014 7,408
At 30 September 2013 8,839