Abbreviated Company Accounts - COLEBROOK CAR SERVICE CENTRE AND TRANSPORTERS LIMITED

Abbreviated Company Accounts - COLEBROOK CAR SERVICE CENTRE AND TRANSPORTERS LIMITED

COLEBROOK CAR SERVICE CENTRE AND TRANSPORTERS LIMITED - Company Information

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Registered Number 08627226

COLEBROOK CAR SERVICE CENTRE AND TRANSPORTERS LIMITED

Abbreviated Accounts

31 July 2016

COLEBROOK CAR SERVICE CENTRE AND TRANSPORTERS LIMITED Registered Number 08627226

Abbreviated Balance Sheet as at 31 July 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 4,360 6,540
Tangible assets 3 19,603 16,669
23,963 23,209
Current assets
Stocks 49,631 37,069
Debtors 20,272 53,060
Cash at bank and in hand 34,910 1,604
104,813 91,733
Creditors: amounts falling due within one year (114,928) (83,280)
Net current assets (liabilities) (10,115) 8,453
Total assets less current liabilities 13,848 31,662
Accruals and deferred income (1,971) (1,684)
Total net assets (liabilities) 11,877 29,978
Capital and reserves
Called up share capital 1 1
Profit and loss account 11,876 29,977
Shareholders' funds 11,877 29,978
  • For the year ending 31 July 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 11 April 2017

And signed on their behalf by:
Mr Rob Wanless, Director

COLEBROOK CAR SERVICE CENTRE AND TRANSPORTERS LIMITED Registered Number 08627226

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off cost less residual value of each asset over its expected useful life, as follows:

Plant and machinery - 25% reducing balance
Fixtures, fittings and equipment - 33.3% reducing balance
Motor vehicles - 25% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in annual instalments over its estimated useful economic life of 5 years.

Other accounting policies
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Stock and work in progress are valued at the lower of cost and net realisable value.

2Intangible fixed assets
£
Cost
At 1 August 2015 10,900
Additions -
Disposals -
Revaluations -
Transfers -
At 31 July 2016 10,900
Amortisation
At 1 August 2015 4,360
Charge for the year 2,180
On disposals -
At 31 July 2016 6,540
Net book values
At 31 July 2016 4,360
At 31 July 2015 6,540
3Tangible fixed assets
£
Cost
At 1 August 2015 24,569
Additions 10,006
Disposals (150)
Revaluations -
Transfers -
At 31 July 2016 34,425
Depreciation
At 1 August 2015 7,900
Charge for the year 6,960
On disposals (38)
At 31 July 2016 14,822
Net book values
At 31 July 2016 19,603
At 31 July 2015 16,669

4Transactions with directors

Name of director receiving advance or credit: Robert Wanless
Description of the transaction: Directors Loan Account
Balance at 1 August 2015: £ 32,315
Advances or credits made: £ 131,733
Advances or credits repaid: £ 164,048
Balance at 31 July 2016: £ 0