BEECH_MOTORS_(ST_AUSTELL) - Accounts

BEECH MOTORS (ST. AUSTELL) LIMITED - Company Information

Print Friendly Version

Company Registration No. 01351173 (England and Wales)

BEECH MOTORS (ST AUSTELL) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2016

BEECH MOTORS (ST AUSTELL) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BEECH MOTORS (ST AUSTELL) LIMITED

ABBREVIATED BALANCE SHEET - UNAUDITED

AS AT

28 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

161,987

167,043

Current assets

Stocks

22,285

25,129

Debtors

26,042

14,963

Cash at bank and in hand

5,304

4,372

53,631

44,464

Creditors: amounts falling due within one year

(172,493)

(141,190)

Net current liabilities

(118,862)

(96,726)

Total assets less current liabilities

43,125

70,317

Creditors: amounts falling due after more than one year

(111,414)

(124,438)

(68,289)

(54,121)

Capital and reserves

Called up share capital

1,000

Profit and loss account

(69,289)

(55,121)

Shareholders' funds

(68,289)

(54,121)

For the financial year ended 28 February 2016 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 29 November 2016

P Halliday Esq

Director

Company Registration No. 01351173

BEECH MOTORS (ST AUSTELL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED

FOR THE YEAR ENDED 28 FEBRUARY 2016

- 2 -

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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. The turnover and loss before taxation are attributable to the one principal activity of the company - all of which arises in the United Kingdom.

1.3

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:

Freehold buildings

2% per annum on the straight line method

Plant and machinery

15% per annum on the reducing balance method

Motor vehicles

25% on the reducing balance method

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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

1.5

Stock

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6

Deferred taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax liabilities are not discounted.

BEECH MOTORS (ST AUSTELL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 March 2015

458,528

Additions

17,065

Disposals

(21,546)

At 28 February 2016

454,047

Depreciation

At 1 March 2015

291,485

On disposals

(14,728)

Charge for the year

15,303

At 28 February 2016

292,060

Net book value

At 28 February 2016

161,987

At 28 February 2015

167,043

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £24,666 (2015 - £21,995).

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

(26,069)

(53,690)

The aggregate amount of creditors for which security has been given amounted to £111,414 (2015 - £124,438).

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000