REVIVE AUTO INNOVATIONS (DERBY) LIMITED Accounts filed on 31-03-2014

REVIVE AUTO INNOVATIONS (DERBY) LIMITED - Company Information

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REVIVE AUTO INNOVATIONS (DERBY) LIMITED

Company Registration Number:
05631665 (England and Wales)

Report of the Directors and Unaudited Financial Statements

Period of accounts

Start date: 01st April 2013

End date: 31st March 2014

SUBMITTED

Contents of the Financial Statements
for the Period Ended 31st March 2014


Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

Company Information
for the Period Ended 31st March 2014

Director:		Colin Clarke



Company secretary:		Peter Clarke



Registered office:		37 Lowlands Road
		Belper

		Derbyshire

		DE56 1HN




Company Registration Number:		05631665 (England and Wales)

Directors' Report Period Ended 31st March 2014

The directors present their report with the financial statements of the company for the period ended 31st March 2014

Principal activities
The principal activity of the company in the period under review was:
motor vehicle touch-ups

Directors
The directors shown below have held office during the whole of the period from
01st April 2013 to 31st March 2014
Colin Clarke

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 01 September 2014
And Signed On Behalf Of The Board By:

Name: Colin Clarke
Status: Director

Profit and Loss Account

for the Period Ended 31st March 2014

	Notes	2014 £	2013 £
Turnover:	2	13,376	26,615
Cost of sales:		1,780	3,255
Gross profit or (loss):		11,596	23,360
Distribution costs:		1,257	2,542
Administrative expenses:	4,	15,490	21,633
Other operating income:		14,781	-
Operating profit or (loss):	3	9,630	( 815 )
Interest payable and similar charges:		39	147
Profit or (loss) on ordinary activities before taxation:		9,591	( 962 )
Tax on profit or (loss) on ordinary activities:	5	148	143
Profit or (loss) for the financial year:		9,443	( 1,105 )

The notes form part of these financial statements

Statement of total recognised gains and losses
31st March 2014

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report.

The notes form part of these financial statements

Balance sheet
As at 31st March 2014

	Notes	2014 £	2013 £
Fixed assets
Intangible assets:		-	8,450
Tangible assets:		-	3,730
Total fixed assets:		-	12,180
Current assets
Debtors:	7	2,311	3,133
Cash at bank and in hand:		-	7
Total current assets:		2,311	3,140
Creditors: amounts falling due within one year	8	2,211	15,007
Net current assets (liabilities):		100	( 11,867 )
Total assets less current liabilities:		100	313
Total net assets (liabilities):		100	313

The notes form part of these financial statements

Balance sheet
As at 31st March 2014
continued

	Notes	2014 £	2013 £
Capital and reserves
Called up share capital:	9	100	100
Profit and Loss account:		-	213
Total shareholders funds:		100	313

For the year ending 31 March 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 01 September 2014

SIGNED ON BEHALF OF THE BOARD BY:

Name: Colin Clarke
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements
for the Period Ended 31st March 2014

1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements are prepared under the historical cost convention (modified to include the revaluation of land and buildings) and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The accounts do not include a cash flow statement because the company is a small entity and in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008) is exempt from the requirement to prepare a cash flow statement.

Turnover policy

Turnover represents amounts invoiced, excluding value added tax, in respect of the sale of goods to customers.

Tangible fixed assets depreciation policy

Depreciation is calculated to write off the cost or revalued amount less estimated residual value of fixed assets on a reducing balance basis over their estimated useful lives

Intangible fixed assets amortisation policy

Depreciation is calculated to write off the cost or revalued amount less estimated residual value of fixed assets on a straight line basis over their estimated useful lives

Valuation information and policy

Stocks and work-in-progress (except long-term contract balances) are stated at the lower of cost and net realisable value. Cost is calculated using the first-in-first-out method and consists of material and direct labour costs, together with an appropriate proportion of production overheads. Long-term contract balances are stated at net cost less foreseeable losses less any applicable payments on account. The amount recorded as turnover in respect of long-term contracts is ascertained by reference to the value of the work carried out to date. Attributable profit is recognised as the difference between recorded turnover and related costs.

Notes to the Financial Statements
for the Period Ended 31st March 2014

2 . Turnover

The company operates in the UK and the whole of its turnover is to the UK market.

Notes to the Financial Statements
for the Period Ended 31st March 2014

3 . Operating profit or (loss)

Operating profit or (loss) before tax as stated after charging the following.

	2014	2013
	£	£
Depreciation - owned assets:	-	1,243
Amortisation of goodwill:	-	275
Amortisation of other intangible assets:	-	375
Profit or (loss) on disposal of fixed assets:	14,781	-

Notes to the Financial Statements
for the Period Ended 31st March 2014

4 . Directors' remuneration

	2014	2013
	£	£
Directors' remuneration:	3,887	7,803
TOTAL:	3,887	7,803

Notes to the Financial Statements
for the Period Ended 31st March 2014

5. Taxation

The tax charge on the profit on ordinary activities for the period was as follows:

	2014	2013
	£	£
UK Corporation Tax:	1,511	143
Deferred Tax:	( 1,363 )	-
Tax on profit or (loss) on ordinary activities:	148	143

Profit or (loss) on ordinary activities before taxation:	9,591	( 962 )
Profit or (loss) on ordinary activities before taxation multiplied by the rate(s) of Corporation Tax applicable:	1,918	( 192 )
Expense not deductable for tax purposes:	-	10
Accelerated capital allowances:	1,607	( 325 )
Any other adjustments:	1,200	-
Current tax charge or (credit):	1,511	143

Notes to the Financial Statements
for the Period Ended 31st March 2014

6. Dividends

	2014	2013
	£	£
Dividends paid on ordinary shares:	9,656	0

Notes to the Financial Statements
for the Period Ended 31st March 2014

7. Debtors

	2014	2013
	£	£
Trade debtors:	344	3,133
Other debtors:	1,967	-
Total:	2,311	3,133

Notes to the Financial Statements
for the Period Ended 31st March 2014

8. Creditors: amounts falling due within one year

	2014	2013
	£	£
Bank loans and overdrafts:	-	2,126
Trade creditors:	-	1,482
Taxation and social security:	1,511	2,150
Accruals and deferred income:	700	1,226
Other creditors:	-	8,023
Total:	2,211	15,007

Notes to the Financial Statements
for the Period Ended 31st March 2014

9. Called up share capital

Allotted, called up and paid

Previous period			2013
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	100	1.00 1.00	100
Total share capital:			100

Current period			2014
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	100	1.00 1.00	100
Total share capital:			100

Notes to the Financial Statements
for the Period Ended 31st March 2014

10 . Transactions with directors


Name of director receiving advance or credit:	Colin Clarke
Description of the transaction:	Loan
Balance at 01st April 2013:	0
Advances or credits made:	1,967
Balance at 31st March 2014:	1,967

REVIVE AUTO INNOVATIONS (DERBY) LIMITED Accounts filed on 31-03-2014