Bicycle Doctor (South Wales) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05372904 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

BICYCLE DOCTOR (SOUTH WALES) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTOR:

J J Rowland

SECRETARY:

REGISTERED OFFICE:

Llanover House, Llanover Road

Pontypridd

Mid Glamorgan

CF37 4DY

REGISTERED NUMBER:

05372904 (England and Wales)

FIXED ASSETS

Intangible assets

2

10,000

11,000

Tangible assets

3

3,228

4,271

13,228

15,271

CURRENT ASSETS

Stocks

144,082

141,996

Debtors

15,859

8,058

159,941

150,054

CREDITORS

Amounts falling due within one year

4

160,119

151,666

NET CURRENT LIABILITIES

(178

)

(1,612

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,050

13,659

PROVISIONS FOR LIABILITIES

606

805

NET ASSETS

12,444

12,854

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

12,344

12,754

SHAREHOLDERS' FUNDS

12,444

12,854

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 March 2017 and were signed by:

J J Rowland - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Fixtures and fittings

-

20% 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

20,000

AMORTISATION

At 1 April 2015

9,000

Amortisation for year

1,000

At 31 March 2016

10,000

NET BOOK VALUE

At 31 March 2016

10,000

At 31 March 2015

11,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

36,583

DEPRECIATION

At 1 April 2015

32,312

Charge for year

1,043

At 31 March 2016

33,355

NET BOOK VALUE

At 31 March 2016

3,228

At 31 March 2015

4,271

4.

CREDITORS

Creditors include an amount of £ 6,521 (31.3.15 - £ 13,285 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

100

Ordinary

£1

100

100

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and

31 March 2015:

31.3.16

31.3.15

£

£

J J Rowland

Balance outstanding at start of year

(79,907

)

(79,391

)

Amounts advanced

1,487

11,484

Amounts repaid

(12,000

)

(12,000

)

Balance outstanding at end of year

(90,420

)

(79,907

)

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Bicycle Doctor (South Wales) Ltd for the year ended 31 March 2016 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Bicycle Doctor (South Wales) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bicycle Doctor (South Wales) Ltd and state those matters that we have agreed to state to the director of Bicycle Doctor (South Wales) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bicycle Doctor (South Wales) Ltd director for our work or for this report.

It is your duty to ensure that Bicycle Doctor (South Wales) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bicycle Doctor (South Wales) Ltd. You consider that Bicycle Doctor (South Wales) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bicycle Doctor (South Wales) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Date: .............................................