BCW Repair Centre Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03107720 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

BCW Repair Centre Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr R Taylor

Mr C Taylor

SECRETARY:

Mr R Taylor

REGISTERED OFFICE:

Units 1 & 2

Buckingham Court

Buckingham Road

Brackley

Northamptonshire

NN13 7EU

REGISTERED NUMBER:

03107720 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

919,367

890,757

919,367

890,757

CURRENT ASSETS

Stocks

39,635

37,031

Debtors

454,358

273,986

Cash at bank and in hand

135,920

139,474

629,913

450,491

CREDITORS

Amounts falling due within one year

4

293,045

211,718

NET CURRENT ASSETS

336,868

238,773

TOTAL ASSETS LESS CURRENT LIABILITIES

1,256,235

1,129,530

CREDITORS

Amounts falling due after more than one
year

4

455,307

485,917

NET ASSETS

800,928

643,613

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

800,828

643,513

SHAREHOLDERS' FUNDS

800,928

643,613

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 24 August 2016 and were signed on its behalf
by:

Mr R Taylor - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five years.

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been fully

amortised over its useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Plant and machinery

10% on cost

Fixtures and fittings

20% to 33% on cost

Motor vehicles

25% on cost

No depreciation has been charged on the freehold property as the directors deem the value shown within the

financial statements is representative of its market value.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

2,500

AMORTISATION

At 1 January 2015

and 31 December 2015

2,500

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

1,156,014

Additions

64,081

At 31 December 2015

1,220,095

DEPRECIATION

At 1 January 2015

265,257

Charge for year

35,471

At 31 December 2015

300,728

NET BOOK VALUE

At 31 December 2015

919,367

At 31 December 2014

890,757

4.

CREDITORS

Creditors include an amount of £ 497,592 (31.12.14 - £ 530,002 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

100

Ordinary

£1

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed the directors, Mr R Taylor and Mr C Taylor £2,688 (2014:

£5,590).

During the year dividends of £29,547 were paid to Mr R Taylor (2014: £31,863) and dividends of £15,871 were

paid to Mr C Taylor (2014: £17,157).