Gateway Motor Company Limited - Limited company - abbreviated - 11.0.0
Gateway Motor Company Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| FOR |
| GATEWAY MOTOR COMPANY LIMITED |
| GATEWAY MOTOR COMPANY LIMITED (REGISTERED NUMBER: 02833622) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the year ended 31 DECEMBER 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 6 |
| GATEWAY MOTOR COMPANY LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 DECEMBER 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| GATEWAY MOTOR COMPANY LIMITED (REGISTERED NUMBER: 02833622) |
| ABBREVIATED BALANCE SHEET |
| 31 DECEMBER 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| GATEWAY MOTOR COMPANY LIMITED (REGISTERED NUMBER: 02833622) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 DECEMBER 2013 |
| The financial statements were approved by the Board of Directors on its behalf by: |
| GATEWAY MOTOR COMPANY LIMITED (REGISTERED NUMBER: 02833622) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the year ended 31 DECEMBER 2013 |
| 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 goods and services excluding value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
| over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to the profit and loss account in the period to which they |
| relate. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| Additions |
| At 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| GATEWAY MOTOR COMPANY LIMITED (REGISTERED NUMBER: 02833622) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the year ended 31 DECEMBER 2013 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| A Ordinary shares | £1 |
| B Ordinary shares | £1 |
| C Ordinary shares | £1 |
| 4,000 | D Ordinary shares | £1 | 4,000 | 4,000 |
| 50,000 | 50,000 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2013 |
| and 31 December 2012: |
| 2013 | 2012 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |
| The loan was interest free and was repaid on 22 May 2013. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| GATEWAY MOTOR COMPANY LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages two to five) 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 Gateway Motor Company Limited for the year ended 31 December 2013 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 (ICAEW), we |
| are subject to its ethical and other professional requirements which are detailed at |
| icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Gateway Motor Company Limited, as a body, in |
| accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval |
| the financial statements of Gateway Motor Company Limited and state those matters that we have agreed to |
| state to the Board of Directors of Gateway Motor Company 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 the company and its Board of Directors, as a body, for our work |
| or for this report. |
| It is your duty to ensure that Gateway Motor Company 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 Gateway Motor Company Limited. You consider that Gateway Motor Company 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 Gateway Motor |
| Company 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. |
| 8 September 2014 |