Abbreviated Company Accounts - MEADOWBANK SCHOOL OF MOTORING LIMITED

MEADOWBANK SCHOOL OF MOTORING LIMITED - Company Information

Registered Number SC263121

MEADOWBANK SCHOOL OF MOTORING LIMITED

Abbreviated Accounts

31 May 2015

MEADOWBANK SCHOOL OF MOTORING LIMITED Registered Number SC263121

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	15,172	10,566
		15,172	10,566
Creditors: amounts falling due within one year		(7,257)	(5,486)
Net current assets (liabilities)		(7,257)	(5,486)
Total assets less current liabilities		7,915	5,080
Creditors: amounts falling due after more than one year		(12,535)	(9,802)
Total net assets (liabilities)		(4,620)	(4,722)
Capital and reserves
Called up share capital		300	300
Profit and loss account		(4,920)	(5,022)
Shareholders' funds		(4,620)	(4,722)

For the year ending 31 May 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 9 May 2016

And signed on their behalf by:
John McNeill, Director

MEADOWBANK SCHOOL OF MOTORING LIMITED Registered Number SC263121

Notes to the Abbreviated Accounts for the period ended 31 May 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 comprises of the invoiced value of the goods and services supplied by the company net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment - 25% Reducing Balance
Motor Vehicles - 25% Reducing Balance
Fixtures & Fittings - 25% Reducing Balance.

2Tangible fixed assets

	£
Cost
At 1 June 2014	20,823
Additions	14,840
Disposals	(6,900)
Revaluations	-
Transfers	-
At 31 May 2015	28,763
Depreciation
At 1 June 2014	10,257
Charge for the year	5,059
On disposals	(1,725)
At 31 May 2015	13,591
Net book values
At 31 May 2015	15,172
At 31 May 2014	10,566