Abbreviated Company Accounts - MANOR AUTO SALVAGE LIMITED

Abbreviated Company Accounts - MANOR AUTO SALVAGE LIMITED

MANOR AUTO SALVAGE LIMITED - Company Information

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Registered Number NI037815

MANOR AUTO SALVAGE LIMITED

Abbreviated Accounts

31 March 2015

MANOR AUTO SALVAGE LIMITED Registered Number NI037815

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 206,997 233,133
Investments 3 - 257,525
206,997 490,658
Current assets
Stocks 162,671 154,862
Debtors 1,905 1,407
Cash at bank and in hand 585,564 594,417
750,140 750,686
Creditors: amounts falling due within one year (25,433) (45,364)
Net current assets (liabilities) 724,707 705,322
Total assets less current liabilities 931,704 1,195,980
Provisions for liabilities (23,583) (23,583)
Total net assets (liabilities) 908,121 1,172,397
Capital and reserves
Called up share capital 100 100
Profit and loss account 908,021 1,172,297
Shareholders' funds 908,121 1,172,397
  • For the year ending 31 March 2015 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 29 December 2015

And signed on their behalf by:
Kevin Monaghan, Director

MANOR AUTO SALVAGE LIMITED Registered Number NI037815

Notes to the Abbreviated Accounts for the period ended 31 March 2015

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 total invoice value, excluding value added tax, of sales made during the year.

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

Land & Buildings - straight line over fifty years
Plant & Mach - 15% reducing balance
Computer Equip - 25% straight line

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

2Intangible fixed assets
£
Cost
At 1 April 2014 554,176
Additions 984
Disposals -
Revaluations -
Transfers -
At 31 March 2015 555,160
Amortisation
At 1 April 2014 321,043
Charge for the year 27,120
On disposals -
At 31 March 2015 348,163
Net book values
At 31 March 2015 206,997
At 31 March 2014 233,133

3Fixed assets Investments
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.