Company Registration No. 07086475 (England and Wales)
East Peckham MOT Service & Tyre Centre Limited
Abbreviated unaudited accounts
for the year ended 31 March 2016
East Peckham MOT Service & Tyre Centre Limited
Abbreviated Balance Sheet
as at 31 March 2016
Tangible assets
331,891
34,806
Cash at bank and in hand
89,780
168,582
Creditors: amounts falling due within one year
(157,788)
(162,622)
Net current assets
4,716
76,919
Total assets less current liabilities
336,607
111,725
Creditors: amounts falling due after more than one year
(219,872)
-
Net assets
116,735
111,725
Called up share capital
3
3
Profit and loss account
116,732
111,722
Total shareholders' funds
116,735
111,725
For the year ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 15 December 2016
G Brockman
Director
Company Registration No. 07086475
East Peckham MOT Service & Tyre Centre Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
25% Straight Line
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 expenditure and an appropriate proportion of fixed and variable overheads.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).
2
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
At 1 April 2015
-
55,663
7,125
62,788
Additions
310,000
-
-
310,000
At 31 March 2016
310,000
55,663
7,125
372,788
At 1 April 2015
-
23,419
4,563
27,982
Charge for the year
-
11,133
1,782
12,915
At 31 March 2016
-
34,552
6,345
40,897
At 31 March 2016
310,000
21,111
780
331,891
At 31 March 2015
-
32,244
2,562
34,806
East Peckham MOT Service & Tyre Centre Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
Amounts included in creditors due after more than five years
164,904
-
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
