M C Auto Repairs Limited,Ltd - Accounts

M C AUTO REPAIRS LIMITED - Company Information

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M C Auto Repairs Limited

For the year ended 31 March 2016

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 06545764

Contents Page

M C Auto Repairs Limited

For the year ended 31 March 2016

Balance Sheet

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Notes to the Abbreviated Financial Statements

Abbreviated Balance Sheet

M C Auto Repairs Limited

As at 31 March 2016

06545764

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

8,805

11,740

8,805

11,740

Current assets

Stocks

7,200

7,300

Debtors

13,666

10,553

17,853

20,866

Creditors: amounts falling due within one year

(31,550)

(26,632)

(10,684)

(8,779)

Net current liabilities

Total assets less current liabilities

1,056

Net assets

1,056

Capital and reserves

Called up share capital

Profit and loss account

1,054

1,056

Shareholders funds

For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

2) The director acknowledges his 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: 30 September 2016

Michael Courtice Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

M C Auto Repairs Limited

For the year ended 31 March 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.

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

25% Reducing balance

Motor Vehicles

25% Reducing balance

Fixtures and Fittings

25% Reducing balance

Stocks and work in progress

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 costs and an appropriate proportion of fixed and variable overheads.

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

15,653

At 01 April 2015

At 31 March 2016

15,653

Depreciation

3,913

At 01 April 2015

2,935

Charge for year

6,848

At 31 March 2016

Net book values

At 31 March 2016

8,805

11,740

At 31 March 2015

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Notes to the Abbreviated Financial Statements

M C Auto Repairs Limited

For the year ended 31 March 2016

Debtors include an amount of £0 (2015: £8372) falling due after more than one year

3 Debtors:

4 Share capital

Authorised

1,000 Ordinary shares of £1.00 each

Allotted called up and fully paid

2016

2015

2 Ordinary shares of £1.00 each

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