GARDEN_CARPORTS_LIMITED - Accounts

GARDEN CARPORTS LIMITED - Company Information

Print Friendly Version

Company Registration No. 00885688 (England and Wales)

GARDEN CARPORTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

GARDEN CARPORTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GARDEN CARPORTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

200,604

Investments

430

201,034

Current assets

Debtors

277,464

426,109

Cash at bank and in hand

16,542

88,991

294,006

515,100

Creditors: amounts falling due within one year

(141,871)

(86,462)

Net current assets

152,135

428,638

Total assets less current liabilities

353,169

629,672

Capital and reserves

Called up share capital

100

Revaluation reserve

200,064

Profit and loss account

153,005

429,508

Shareholders' funds

353,169

629,672

For the financial 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's 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 director acknowledges his 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 17 November 2016

M Senley

Director

Company Registration No. 00885688

GARDEN CARPORTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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 in respect of rental income.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25%

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

GARDEN CARPORTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 April 2015 & at 31 March 2016

210,440

430

210,870

Depreciation

At 1 April 2015 & at 31 March 2016

9,836

Net book value

At 31 March 2016

200,604

430

201,034

At 31 March 2015

200,604

430

201,034

Listed Investments had a market value of £4,099 at 31 March 2016 (2015 : £3,413).

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Related party transactions

The company is controlled by Mrs M Senley.

The amount owed by D & P Estates Limited, a company controlled by Mrs M Senley, at 31 March 2016 was £152,221 (2015 : £135,396).

At 31 March 2016 the company was owed £124,238 by Mrs M Senley (2015 : £282,122).

During the year a dividend was paid as follows: Mrs M Senley - £280,000, Caroline Senley - £12,174 and Rick Senley - £12,174.