GOLDENS VEHICLE REPAIR CENTRE LIMITED - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06850010 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

GOLDENS VEHICLE REPAIR CENTRE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P Golden

SECRETARY:

REGISTERED OFFICE:

The Gatehouse

Wick Drive

New Milton

Hampshire

BH25 6SJ

REGISTERED NUMBER:

06850010 (England and Wales)

ACCOUNTANTS:

Richard Baker & Co.

The Gatehouse

Wick Drive

New Milton

Hampshire

BH25 6SJ

FIXED ASSETS

Intangible assets

2

57,000

320

Tangible assets

3

64,721

5,107

121,721

5,427

CURRENT ASSETS

Stocks

1,842

-

Debtors

6,572

10,851

Cash at bank and in hand

32,738

1

41,152

10,852

CREDITORS

Amounts falling due within one year

144,589

16,114

NET CURRENT LIABILITIES

(103,437

)

(5,262

)

TOTAL ASSETS LESS CURRENT LIABILITIES

18,284

165

CREDITORS

Amounts falling due after more than one year

13,750

-

NET ASSETS

4,534

165

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

4,434

65

SHAREHOLDERS' FUNDS

4,534

165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 8 October 2014 and were signed by:

P Golden - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Acquired goodwill is written off in equal annual instalments over it's estimated useful economic life of 20 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery -20% straight line

Fixtures, fittings and equipment -15% straight line

Motor vehicles - 25% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

400

Additions

60,000

At 31 March 2014

60,400

AMORTISATION

At 1 April 2013

80

Amortisation for year

3,320

At 31 March 2014

3,400

NET BOOK VALUE

At 31 March 2014

57,000

At 31 March 2013

320

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

11,054

Additions

77,144

At 31 March 2014

88,198

DEPRECIATION

At 1 April 2013

5,947

Charge for year

17,530

At 31 March 2014

23,477

NET BOOK VALUE

At 31 March 2014

64,721

At 31 March 2013

5,107

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

100

Ordinary

£1

100

100