Beacon Hill Garage Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00591566 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

BEACON HILL GARAGE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

T J Budge

REGISTERED OFFICE:

Hillside

Hawthorn Lane

Four Marks

Alton

Hampshire

GU34 3ER

REGISTERED NUMBER:

00591566 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

2

70,059

62,393

Investment property

3

3,421,244

2,448,100

3,491,303

2,510,493

CURRENT ASSETS

Debtors

405,385

378,311

Cash at bank

56,317

984,712

461,702

1,363,023

CREDITORS

Amounts falling due within one year

4

282,120

211,752

NET CURRENT ASSETS

179,582

1,151,271

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,670,885

3,661,764

CREDITORS

Amounts falling due after more than one
year

4

922,466

960,280

NET ASSETS

2,748,419

2,701,484

CAPITAL AND RESERVES

Called up share capital

5

2,000

Revaluation reserve

995,345

Profit and loss account

1,751,074

1,704,139

SHAREHOLDERS' FUNDS

2,748,419

2,701,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 20 December 2016 and were signed by:

T J Budge - Director

1.	ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of Investment Properties and in accordance with applicable accounting standards.

Turnover

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

Tangible fixed assets

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

Improvements to property

-

not provided

Plant and machinery

-

25% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Investment property

In accordance with Statement of Standard Accounting Practice No.19, the company's properties are held for

long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on

revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not

provided in respect of freehold investment properties.

This policy represents a departure from statutory accounting principles, which require depreciation to be

provided on all fixed assets. The directors consider that this policy is necessary in order that the accounts may

give a true and fair view because current values and changes in current values are of prime importance rather

than the calculation of systematic annual depreciation.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

109,388

Additions

19,211

At 31 March 2016

128,599

DEPRECIATION

At 1 April 2015

46,995

Charge for year

11,545

At 31 March 2016

58,540

NET BOOK VALUE

At 31 March 2016

70,059

At 31 March 2015

62,393

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2015

2,448,100

Additions

973,144

At 31 March 2016

3,421,244

NET BOOK VALUE

At 31 March 2016

3,421,244

At 31 March 2015

2,448,100

4.

CREDITORS

Creditors include an amount of £ 958,447 (31.3.15 - £ 995,000 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.3.16

31.3.15

£

Repayable by instalments

768,519

808,333

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2,000

Ordinary

£1

2,000