NEWLAND GARAGE LIMITED,Ltd - Accounts

NEWLAND GARAGE LIMITED - Company Information

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NEWLAND GARAGE LIMITED

For the period ended 29 February 2016

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 09419595

NEWLAND GARAGE LIMITED

Accountants' Report

For the period ended 29 February 2016

As described on the balance sheet you are responsible for the preparation of the financial statements for the period

ended 29 February 2016 and you consider that the company is exempt from an audit under the Companies Act

2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you

to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

INTUITIVE ACCOUNTING LTD

UNIT F7, THE BLOC

38 SPRINGFIELD WAY

ANLABY

EAST YORKSHIRE

HU10 6RJ

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Abbreviated Balance Sheet

NEWLAND GARAGE LIMITED

As at 29 February 2016

09419595

Registered Number :

2016

Notes

Fixed assets

Tangible assets

5,244

Current assets

Stocks

2,500

Debtors

3,879

Cash at bank and in hand

15,939

22,318

Creditors: amounts falling due within one year

(25,645)

(3,327)

Net current liabilities

Total assets less current liabilities

1,917

Net assets/liabilities

Capital and reserves

Profit and loss account

1,917

Shareholders funds

For the period ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476;

2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Date approved by the board: 31 October 2016

W SARGESON Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

NEWLAND GARAGE LIMITED

For the period ended 29 February 2016

1 Accounting Policies

Basis of accounting

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

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Dividends

Proposed dividends are only included as liabilities in the financial statements when their payment has been approved

by the shareholders prior to the balance sheet date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

15% Reducing balance

Computer Equipment

15% Reducing balance

Motor Vehicles

20% Reducing balance

Stocks

Stocks 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 costs and an appropriate proportion of fixed and variable overheads.

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

5,907

Additions

At 29 February 2016

5,907

Depreciation

663

Charge for period

663

At 29 February 2016

Net book values

At 29 February 2016

5,244

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Notes to the Abbreviated Financial Statements

NEWLAND GARAGE LIMITED

For the period ended 29 February 2016

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