Midland Auto Services Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 06990003 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2015

for

Midland Auto Services Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N J Attenborrow

M Goodfellow

SECRETARY:

N J Attenborrow

REGISTERED OFFICE:

33 Brendon Road

Wollaton

Nottinghamshire

NG8 1HW

REGISTERED NUMBER:

06990003 (England and Wales)

ACCOUNTANTS:

Smith Cookson

Chartered Accountants

4 Yorke Street

Hucknall

Nottinghamshire

NG15 7BT

FIXED ASSETS

Tangible assets

2

18,649

23,923

CURRENT ASSETS

Stocks

2,000

Debtors

11,603

11,775

Cash at bank and in hand

17,469

19,177

31,072

32,952

CREDITORS

Amounts falling due within one year

37,294

40,240

NET CURRENT LIABILITIES

(6,222

)

(7,288

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,427

16,635

CREDITORS

Amounts falling due after more than one
year

(2,459

)

(4,424

)

PROVISIONS FOR LIABILITIES

(588

)

(1,110

)

NET ASSETS

9,380

11,101

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

9,280

11,001

SHAREHOLDERS' FUNDS

9,380

11,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12 May 2016 and were signed on its behalf by:

N J Attenborrow - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

59,342

Additions

945

At 31 August 2015

60,287

DEPRECIATION

At 1 September 2014

35,419

Charge for year

6,219

At 31 August 2015

41,638

NET BOOK VALUE

At 31 August 2015

18,649

At 31 August 2014

23,923

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

100

Ordinary

£1

100