R_&_B_GARAGE_SERVICES_LIM - Accounts

R & B GARAGE SERVICES LTD - Company Information

Print Friendly Version

Company Registration No. 05798377 (England and Wales)

R & B GARAGE SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2015

R & B GARAGE SERVICES LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

R & B GARAGE SERVICES LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF R & B GARAGE SERVICES LIMITED FOR THE YEAR ENDED 31 MAY 2015

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R & B Garage Services Limited for the year ended 31 May 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of R & B Garage Services Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R & B Garage Services Limited and state those matters that we have agreed to state to the Board of Directors of R & B Garage Services Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R & B Garage Services Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that R & B Garage Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R & B Garage Services Limited. You consider that R & B Garage Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R & B Garage Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box

26 February 2016

Chartered Accountants

Amelia House

Crescent Road

Worthing

West Sussex

BN11 1QR

R & B GARAGE SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2015

- 2 -

2015

2014

Notes

Fixed assets

Tangible assets

50,713

62,436

Current assets

Stocks

5,176

3,985

Debtors

26,700

23,742

Cash at bank and in hand

79,821

68,882

111,697

96,609

Creditors: amounts falling due within one year

(15,238)

(12,939)

Net current assets

96,459

83,670

Total assets less current liabilities

147,172

146,106

Provisions for liabilities

(7,567)

(9,346)

139,605

136,760

Capital and reserves

Called up share capital

Profit and loss account

139,603

136,758

Shareholders' funds

139,605

136,760

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

Directors' 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 directors acknowledge their 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 26 February 2016

Mrs R M Hathaway

Director

Company Registration No. 05798377

R & B GARAGE SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 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

Turnover

Turnover represents amounts receivable for goods and services net of VAT , recognised at the point of delivery., recognised at the point of delivery.

1.3

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

10% per annum straight line

Plant and machinery

15% per annum reducing balance

Fixtures, fittings & equipment

25% per annum reducing balance

Motor vehicles

15% per annum reducing balance

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Stock

Stock is valued at the lower of cost and net realisable value, on a first in first out basis.

1.6

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.

Fixed assets

Tangible assets

Cost

At 1 June 2014 & at 31 May 2015

189,479

Depreciation

At 1 June 2014

127,043

Charge for the period

11,723

At 31 May 2015

138,766

Net book value

At 31 May 2015

50,713

At 31 May 2014

62,436

R & B GARAGE SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2015

- 4 -

Share capital

2015

2014

Allotted, called up and fully paid

2 ordinary shares of £1 each