MERCURY_GARAGE_WARSOP_VAL - Accounts

MERCURY_GARAGE_WARSOP_VAL - Accounts

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED - Company Information

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Company Registration No. 04330763 (England and Wales)
MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2015
28 February 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1,800
3,600
Tangible assets
2
262,145
242,428
263,945
246,028
Current assets
Stocks
5,976
5,841
Debtors
10,710
13,365
Cash at bank and in hand
500
500
17,186
19,706
Creditors: amounts falling due within one year
3
(44,288)
(32,862)
Net current liabilities
(27,102)
(13,156)
Total assets less current liabilities
236,843
232,872
Creditors: amounts falling due after more than one year
4
(122,425)
(126,285)
Provisions for liabilities
(5,673)
(1,721)
108,745
104,866
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
108,645
104,766
Shareholders'  funds
108,745
104,866
MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2015
28 February 2015
- 2 -
For the financial year ended 28 February 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 members have 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 for issue on 30 November 2015
Mr John Griffiths
Director
Company Registration No. 04330763
MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 3 -
1
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 other than freehold land 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 Freehold
Nil
Plant and machinery
15% Reducing balance
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% Reducing balance

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 March 2014
9,000
287,732
296,732
Additions
-
28,173
28,173
At 28 February 2015
9,000
315,905
324,905
Depreciation
At 1 March 2014
5,400
45,305
50,705
Charge for the year
1,800
8,455
10,255
At 28 February 2015
7,200
53,760
60,960
Net book value
At 28 February 2015
1,800
262,145
263,945
At 28 February 2014
3,600
242,428
246,028
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £10,875 (2014 - £0).
4
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
100,390
97,242
The aggregate amount of creditors for which security has been given amounted to £122,425 (2014 - £0).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
2015-02-282014-03-01falsetruetruetruetruetruetmp1050.html2015-12-14043307632014-03-012015-02-28043307632015-02-28043307632014-02-28043307632014-02-2804330763uk-bus:Director12014-03-012015-02-2804330763uk-gaap:LandBuildings2014-03-012015-02-2804330763uk-gaap:PlantMachinery2014-03-012015-02-2804330763uk-gaap:FixturesFittingsToolsEquipment2014-03-012015-02-2804330763uk-gaap:MotorVehicles2014-03-012015-02-2804330763uk-bus:OrdinaryShareClass12014-03-012015-02-2804330763uk-bus:OrdinaryShareClass12015-02-2804330763uk-bus:OrdinaryShareClass12014-02-28xbrli:purexbrli:sharesiso4217:GBP