Washbourne (Garage) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00548443 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2016

for

Washbourne (Garage) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R J Washbourne

T F Washbourne

Mrs L M Washbourne

SECRETARY:

T F Washbourne

REGISTERED OFFICE:

Cross Garage

Caldicot

Monmouthshire

NP6 4XB

REGISTERED NUMBER:

00548443 (England and Wales)

ACCOUNTANTS:

Ashmole & Co

Park Chambers

10 Hereford Road

Abergavenny

Monmouthshire

NP7 5PR

FIXED ASSETS

Tangible assets

2

1,408

220,811

Investments

3

-

339,002

Investment property

4

1,250,000

-

1,251,408

559,813

CURRENT ASSETS

Debtors

1,198

626,827

Cash at bank

653

879

1,851

627,706

CREDITORS

Amounts falling due within one year

5

79,445

22,097

NET CURRENT (LIABILITIES)/ASSETS

(77,594

)

605,609

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,173,814

1,165,422

CREDITORS

Amounts falling due after more than one
year

5

(271,875

)

(281,250

)

PROVISIONS FOR LIABILITIES

(281

)

-

NET ASSETS

901,658

884,172

CAPITAL AND RESERVES

Called up share capital

6

3,608

Revaluation reserve

1,178,902

157,474

Capital redemption reserve

1,406

Profit and loss account

(282,258

)

721,684

SHAREHOLDERS' FUNDS

901,658

884,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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 29 July 2016 and were signed on its behalf by:

T F Washbourne - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

442,445

Additions

1,656

Reclassification/transfer

(442,445

)

At 30 April 2016

1,656

DEPRECIATION

At 1 May 2015

221,634

Charge for year

248

Reclassification/transfer

(221,634

)

At 30 April 2016

248

NET BOOK VALUE

At 30 April 2016

1,408

At 30 April 2015

220,811

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2015

339,002

Impairments

(339,002

)

At 30 April 2016

-

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

339,002

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Washbourne Limited

Nature of business: Non trading

%

Class of shares:

holding

Ordinary

100.00

30.4.16

30.4.15

£

Aggregate capital and reserves

(733,430

)

(723,411

)

Loss for the year

(10,019

)

(85,734

)

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

Additions

7,760

Revaluations

799,795

Reclassification/transfer

442,445

At 30 April 2016

1,250,000

NET BOOK VALUE

At 30 April 2016

1,250,000

5.

CREDITORS

Creditors include an amount of £ 300,000 (30.4.15 - £ 300,000 ) for which security has been given.

They also include the following debts falling due in more than five years:

30.4.16

30.4.15

£

Repayable by instalments

121,875

131,250

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

3,600

Ordinary

£1

3,600

4

A Ordinary

£1

4

2

B Ordinary

£1

2

1

C Ordinary

£1

1

D Ordinary

£1

1

3,608