Hatch Green Garage Limited - Period Ending 2016-05-31

Registration number: 04742796

Hatch Green Garage Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Hatch Green Garage Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Hatch Green Garage Limited
(Registration number: 04742796)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					662,678			699,759
Current assets
Stocks					8,913			14,847
Debtors					294,950			204,243
Cash at bank and in hand					21,054			99,272
					324,917			318,362
Creditors: Amounts falling due within one year		3			(161,241)			(156,838)
Net current assets					163,676			161,524
Total assets less current liabilities					826,354			861,283
Creditors: Amounts falling due after more than one year					(406,370)			(496,212)
Provisions for liabilities					(95,687)			(78,177)
Net assets					324,297			286,894
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					324,295			286,892
Shareholders' funds					324,297			286,894

Page 1

Hatch Green Garage Limited
(Registration number: 04742796)
Abbreviated Balance Sheet at 31 May 2016

For the year ending 31 May 2016 the company was entitled to exemption 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 .

Approved by the Board on 21 February 2017 and signed on its behalf by:

Miss Marie Elena Chart Director

Mr Nicholas Geoffrey Hutt Director

Page 2

Hatch Green Garage Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 May 2016

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of bus service operations and private hire, recognised on delivery of the service.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	Straight line over expected useful life
Office equipment	25% Straight line
Plant & machinery	15% Straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Page 3

Hatch Green Garage Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 May 2016

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 4

Hatch Green Garage Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 May 2016

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 June 2015		100,000			934,866			1,034,866
Additions		-			16,243			16,243
Disposals		-			(4,800)			(4,800)
At 31 May 2016		100,000			946,309			1,046,309
Depreciation
At 1 June 2015		100,000			235,107			335,107
Charge for the year		-			53,324			53,324
Eliminated on disposals		-			(4,800)			(4,800)
At 31 May 2016		100,000			283,631			383,631
Net book value
At 31 May 2016		-			662,678			662,678
At 31 May 2015		-			699,759			699,759

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		78,933			71,630
Amounts falling due after more than one year		406,370			496,212
Total secured creditors		485,303			567,842

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 5