R_&_R_AUTOS_BODYSHOP_LIMI - Accounts

R_&_R_AUTOS_BODYSHOP_LIMI - Accounts

R & R AUTOS BODYSHOP LIMITED - Company Information

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Company Registration No. 04315793 (England and Wales)
R & R AUTOS BODYSHOP LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
R & R AUTOS BODYSHOP LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
R & R AUTOS BODYSHOP LIMITED
CERTIFIED PRACTISING ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF R & R AUTOS BODYSHOP LIMITED FOR THE YEAR ENDED 31 DECEMBER 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
You consider that the company is exempt from an audit for the year ended 31 December 2015. You have acknowledged, on the balance sheet, your responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006, and for preparing accounts which give a true and fair view of the state of affairs of the company and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared these accounts on pages 3 to 11 from the accounting records of the company and on the basis of information and explanations you have given us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Shorthouse & Martin Limited
26 September 2016
Certified Practising Accountants
62-64 New Road
Basingstoke
Hampshire
RG21 7PW
R & R AUTOS BODYSHOP LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
35,368
40,953
Tangible assets
2
199,279
119,471
Investments
2
748
-
235,395
160,424
Current assets
Stocks
33,425
41,803
Debtors
272,100
223,839
Cash at bank and in hand
80,006
33,218
385,531
298,860
Creditors: amounts falling due within one year
3
(468,521)
(364,251)
Net current liabilities
(82,990)
(65,391)
Total assets less current liabilities
152,405
95,033
Creditors: amounts falling due after more than one year
4
(52,150)
(23,709)
100,255
71,324
Capital and reserves
Called up share capital
5
4
4
Profit and loss account
100,251
71,320
Shareholders'  funds
100,255
71,324
R & R AUTOS BODYSHOP LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 3 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 September 2016
Mr N Mitchell
Mrs T Mitchell
Director
Director
Company Registration No. 04315793
R & R AUTOS BODYSHOP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Improvements to property
25% on cost
Plant and machinery
25% on cost
Computer equipment
25% on cost
Fixtures, fittings & equipment
25% on cost
Motor vehicles
25% on cost
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
R & R AUTOS BODYSHOP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 5 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 January 2015
111,688
303,357
-
415,045
Additions
-
112,087
748
112,835
Disposals
-
(354)
-
(354)
At 31 December 2015
111,688
415,090
748
527,526
Depreciation
At 1 January 2015
70,736
183,884
-
254,620
On disposals
-
(277)
-
(277)
Charge for the year
5,584
32,204
-
37,788
At 31 December 2015
76,320
215,811
-
292,131
Net book value
At 31 December 2015
35,368
199,279
748
235,395
At 31 December 2014
40,953
119,471
-
160,424
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £147,695 (2014 - £124,974).

The bank overdraft is secured by fixed and floating charges over the undertaking and all property and assets present and future.

The directors have provided their joint and several personal guarantees in favour of NatWest Bank PLC as additional security for the existing bank overdraft.

4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £52,150 (2014 - £0).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
3 Ordinary A of £1 each
3
3
1 Ordinary C of £1 each
1
1
4
4
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