Squires Garage And Road Transport Limite - Abbreviated accounts 16.1

REGISTERED NUMBER: 00627406 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Squires Garage And Road Transport

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

B W Squire

Mrs J M Waller

SECRETARY:

B W Squire

REGISTERED OFFICE:

Rear Of 51 High Street

Bloxwich

Walsall

West Midlands

WS3 2DF

REGISTERED NUMBER:

00627406 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Tangible assets

2

355,755

294,757

CURRENT ASSETS

Stocks

61,175

71,784

Debtors

27,561

46,402

Cash at bank and in hand

40,332

39,655

129,068

157,841

CREDITORS

Amounts falling due within one year

(176,133

)

(153,823

)

NET CURRENT (LIABILITIES)/ASSETS

(47,065

)

4,018

TOTAL ASSETS LESS CURRENT LIABILITIES

308,690

298,775

CREDITORS

Amounts falling due after more than one year

(85,105

)

(94,552

)

PROVISIONS FOR LIABILITIES

(56,100

)

(43,400

)

NET ASSETS

167,485

160,823

CAPITAL AND RESERVES

Called up share capital

3

5,000

5,000

Profit and loss account

162,485

155,823

SHAREHOLDERS' FUNDS

167,485

160,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 1 August 2016 and were signed on its behalf by:

B W Squire - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, 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.

Motor vehicles

-

15% on cost and 5% on cost

Computer equipment

-

20% on cost

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.

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 April 2015

552,343

Additions

85,306

Disposals

(43,419

)

At 31 March 2016

594,230

DEPRECIATION

At 1 April 2015

257,586

Charge for year

15,572

Eliminated on disposal

(34,683

)

At 31 March 2016

238,475

NET BOOK VALUE

At 31 March 2016

355,755

At 31 March 2015

294,757

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2,050

Ordinary A

£1

2,050

2,050

2,200

Ordinary B

£1

2,200

2,200

750

Ordinary C

£1

750

750

5,000

5,000

During the year the ordinary shares were re-classified as A, B and C shares.

These shares rank pari passu in all respects with the exception of dividends which are declared on a discretionary

basis, being a separate class right.

4.	RELATED PARTY DISCLOSURES

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 Squires Garage And Road Transport Limited for the year ended 31 March 2016 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 Squires Garage And Road Transport 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 Squires Garage And Road Transport Limited and state those matters that we have agreed to state to the Board of Directors of Squires Garage And Road Transport 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 Squires Garage And Road Transport 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 Squires Garage And Road Transport Limited. You consider that Squires Garage And Road Transport 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 Squires Garage And Road Transport 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.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

1 August 2016