Insidetrack Garages (Clitheroe) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 09027305 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1 June 2015 to 30 April 2016

for

Insidetrack Garages (Clitheroe) Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr A J Nester

Mrs A Nester

REGISTERED OFFICE:

Unit 2 Primrose Business Park

Primrose Road

Clitheroe

Lancashire

BB7 1DR

REGISTERED NUMBER:

09027305 (England and Wales)

ACCOUNTANTS:

Towers & Gornall

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

2

72,964

67,910

CURRENT ASSETS

Stocks

24,357

16,151

Debtors

31,584

30,438

Cash at bank and in hand

78,745

43,003

134,686

89,592

CREDITORS

Amounts falling due within one year

132,372

114,995

NET CURRENT ASSETS/(LIABILITIES)

2,314

(25,403

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

75,278

42,507

PROVISIONS FOR LIABILITIES

9,230

8,810

NET ASSETS

66,048

33,697

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

65,948

33,597

SHAREHOLDERS' FUNDS

66,048

33,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 23 December 2016 and were signed on
its behalf by:

Mr A J Nester - Director

Mrs A Nester - 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 January 2015).

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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

73,508

Additions

18,558

Disposals

(1,850

)

At 30 April 2016

90,216

DEPRECIATION

At 1 June 2015

5,598

Charge for period

12,101

Eliminated on disposal

(447

)

At 30 April 2016

17,252

NET BOOK VALUE

At 30 April 2016

72,964

At 31 May 2015

67,910

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

31.5.15

value:

£

100

Ordinary

£1

100