Avonshire Vehicle Repairs Limited

AVONSHIRE VEHICLE REPAIRS LTD - Company Information

true Mr and Mrs S F Bond true 1 March 2013 28 February 2014 28 February 2014 true false 07152503 true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07152503 2013-02-28 07152503 2014-02-28 07152503 2013-03-01 2014-02-28 07152503 uk-gaap:RestatedAmount 2013-02-28 07152503 uk-gaap:RestatedAmount 2014-02-28 07152503 uk-gaap:NetGoodwill 2013-02-28 07152503 uk-gaap:NetGoodwill 2014-02-28 07152503 uk-gaap:NetGoodwill 2013-03-01 2014-02-28 07152503 uk-gaap:OtherIntangibleFixedAssets 2013-03-01 2014-02-28 07152503 uk-gaap:IntangibleAssetsOtherThanGoodwill 2013-02-28 07152503 uk-gaap:IntangibleAssetsOtherThanGoodwill 2014-02-28 07152503 uk-gaap:IntangibleAssetsOtherThanGoodwill 2013-03-01 2014-02-28 07152503 uk-gaap:DevelopmentCosts 2013-02-28 07152503 uk-gaap:DevelopmentCosts 2014-02-28 07152503 uk-gaap:DevelopmentCosts 2013-03-01 2014-02-28 07152503 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2013-02-28 07152503 uk-gaap:LandBuildings 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Registered number: 07152503

Avonshire Vehicle Repairs Limited

Abbreviated accounts

For The Year Ended 28 February 2014

PG Business Solutions Limited

113 Wren Gardens

Portishead

North Somerset

BS20 7PP

Avonshire Vehicle Repairs Limited

Accountant's Report

For The Year Ended 28 February 2014

Accountant's Report

In accordance with the engagement letter dated 10 May 2011, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the Profit and Loss Account the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Association of Accounting Technicians and have complied with the ethical guidance laid down by the Association relating to members undertaking the compilation of financial statements.

You have acknowledged on the balance sheet as at year ended 28 February 2014 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements

Signed

............................................................

PG Business Solutions Limited

9 June 2014

PG Business Solutions Limited

113 Wren Gardens

Portishead

North Somerset

BS20 7PP

Page 1

Avonshire Vehicle Repairs Limited

Company No. 07152503

Abbreviated Balance Sheet 28 February 2014

Abbreviated Balance Sheet

		2014		2013
	Notes	£	£	£	£
FIXED ASSETS
Intangible assets	2		36,562		38,812
Tangible assets	3		45,364		48,399

			81,926		87,211
CURRENT ASSETS
Debtors		39,116		23,179
Cash at bank and in hand		27,254		-

		66,370		23,179
Creditors: Amounts Falling Due Within One Year		(42,589)		(62,847)

NET CURRENT ASSETS (LIABILITIES)			23,781		(39,668)

TOTAL ASSETS LESS CURRENT LIABILITIES			105,707		47,543

Creditors: Amounts Falling After More Than One Year	4		(91,905)		(29,608)

NET ASSETS			13,802		17,935

CAPITAL AND RESERVES
Called up share capital	5		2		2
Profit and Loss account			13,800		17,933

SHAREHOLDERS' FUNDS			13,802		17,935

Page 2

Avonshire Vehicle Repairs Limited

Company No. 07152503

Abbreviated Balance Sheet (continued) 28 February 2014

For the year ending 28 February 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated 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 2008).

On behalf of the board

Mrs S Bond	Mr S Bond
16 June 2014

Page 3

Avonshire Vehicle Repairs Limited

Notes to the Abbreviated Accounts

For The Year Ended 28 February 2014

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The turnover shown in the profit and loss account comprises the total invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts of sales made during the year. Turnover also includes rental income from the renting out of workshop space.

Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of twenty years.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% Reducing Balance Basis
Motor Vehicles	25% Reducing Balance Basis
Office Equipment	15% Reducing Balance Basis

Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Intangible Assets


	Total
Cost	£
As at 1 March 2013	45,000

As at 28 February 2014	45,000

Amortisation
As at 1 March 2013	6,188
Provided during the period	2,250

As at 28 February 2014	8,438

Net Book Value
As at 28 February 2014	36,562

As at 1 March 2013	38,812

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Avonshire Vehicle Repairs Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 28 February 2014

Tangible Assets


	Total
Cost	£
As at 1 March 2013	73,720
Additions	7,686
Disposals	(3,150)

As at 28 February 2014	78,256

Depreciation
As at 1 March 2013	25,321
Provided during the period	8,443
Disposals	(872)

As at 28 February 2014	32,892

Net Book Value
As at 28 February 2014	45,364

As at 1 March 2013	48,399

Included above are assets held under finance leases with a net book value as follows:

	2014	2013
	£	£
Plant & Machinery	9,032	8,676

Creditors: Amounts Falling After More Than One Year

	2014	2013
	£	£
Net obligations under finance lease and hire purchase contracts	2,031	3,891
Bank loans	87,906	23,749
Other creditors	1,968	1,968

	91,905	29,608

Due to consolidation of numerous bank loans, there is only one bank loan outstanding, which security is provided by the directors/shareholders in the form of a personal asset, details of the loan is provided below.

Of the creditors falling due within and after more than one year the following amounts are due after more than five years.

	2014		2013
	£		£
Bank loans and overdrafts	48,837		5,936

Page 5

Avonshire Vehicle Repairs Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 28 February 2014

Share Capital

	Value	Number	2014	2013
Allotted, called up and fully paid:	£		£	£
Ordinary shares	1.000	2	2	2

Transactions With and Loans to Directors

Included within Debtors are the following loans to directors:

	As at 1 March 2013	Amounts advanced	Amounts repaid	As at 28 February 2014
	£	£	£	£
Mrs S Bond	-	5,493	-	5,493
Mr S Bond	-	5,661	-	5,661

The above loan is unsecured and repayable on demand. Interest has been levied at 4% per annum from when the loan was agreed by the company. The loans were made available on 6 November 2013. Mr Bond was charged interest of £72 and Mrs Bond was charged interest of £70 and this was paid to the company after the year end date.

Dividends paid to directors

	2014	2013
	£	£
Mrs S Bond	8,750	16,750
Mr S Bond	8,750	16,750

Ultimate Controlling Party

The company's ultimate controlling party is Mr and Mrs S F Bond by virtue of their ownership of 100% of the issued share capital in the company.

Page 6