N_P_Vehicle_Hire_Limited - Accounts

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Company Registration No. 06808351 (England and Wales)

N P Vehicle Hire Limited

Unaudited Abbreviated Financial Statements

For the year ended 31 March 2015

N P VEHICLE HIRE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

N P VEHICLE HIRE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

as restated

Notes

Fixed assets

Intangible assets

10,000

Tangible assets

310,724

193,440

310,724

203,440

Current assets

Debtors

915,260

761,161

Cash at bank and in hand

13,808

8,224

929,068

769,385

Creditors: amounts falling due within one year

(1,153,034)

(966,471)

Net current liabilities

(223,966)

(197,086)

Total assets less current liabilities

86,758

6,354

Creditors: amounts falling due after more than one year

(63,202)

(35,808)

Provisions for liabilities

(35,245)

(6,695)

(11,689)

(36,149)

Capital and reserves

Called up share capital

Profit and loss account

(11,691)

(36,151)

Shareholders' funds

(11,689)

(36,149)

N P VEHICLE HIRE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 23 July 2015

Mr P Edwards

Director

Company Registration No. 06808351

N P VEHICLE HIRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Over the term of the lease - 10 years

Office equipment

25% reducing balance

Fixtures, fittings & equipment

15% reducing balance

Motor vehicles

15% reducing balance

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

N P VEHICLE HIRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2014

50,000

381,869

431,869

Additions

128,320

Disposals

(15,750)

At 31 March 2015

50,000

494,439

544,439

Depreciation

At 1 April 2014

40,000

149,306

189,306

On disposals

(3,081)

Charge for the year

10,000

37,490

47,490

At 31 March 2015

50,000

183,715

233,715

Net book value

At 31 March 2015

310,724

At 31 March 2014

10,000

193,440

203,440

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary of £1 each

Related party relationships and transactions

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

P Edwards -

1,978

11,438

192

13,224

1,978

11,438

192

13,224