Automania (South Wales) Limited - Period Ending 2014-03-31

Registration number: 06874285

Automania (South Wales) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

Automania (South Wales) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Automania (South Wales) Limited
(Registration number: 06874285)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			1,417			1,890
Current assets
Debtors					4,430			1,240
Cash at bank and in hand					-			851
					4,430			2,091
Creditors: Amounts falling due within one year					(5,604)			(3,586)
Net current liabilities					(1,174)			(1,495)
Net assets					243			395
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					241			393
Shareholders' funds					243			395

For the year ending 31 March 2014 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 director acknowledges his 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 director on 2 September 2014

.........................................
Mr CL Gay
Director

The notes on pages 2 to 3 form an integral part of these financial statements.

Page 1

Automania (South Wales) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		2,520			2,520
At 31 March 2014		2,520			2,520
Depreciation
At 1 April 2013		630			630
Charge for the year		473			473
At 31 March 2014		1,103			1,103
Net book value
At 31 March 2014		1,417			1,417
At 31 March 2013		1,890			1,890

Page 2

Automania (South Wales) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		2			2			2			2

4	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr CL Gay
Amounts advanced and repaid	27,126	22,794	-	-

These transactions have been aggregated by kind. The director considers that this treatment does not impair a true and fair view of the financial statements.

Page 3