Direct Autos Servicing (Holdings) Limited - Period Ending 2016-10-31

Direct Autos Servicing (Holdings) Limited - Period Ending 2016-10-31

DIRECT AUTOS SERVICING (HOLDINGS) LIMITED - Company Information

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Direct Autos Servicing (Holdings) Limited 04431746 false true 2015-11-01 2016-10-31 2016-10-31 04431746 2015-11-01 2016-10-31 04431746 2016-10-31 04431746 uk-bus:Director1 2015-11-01 2016-10-31 04431746 uk-bus:EntityAccountantsOrAuditors 2015-11-01 2016-10-31 04431746 uk-gaap:NetGoodwill 2015-11-01 2016-10-31 04431746 uk-gaap:MotorVehicles 2015-11-01 2016-10-31 04431746 uk-gaap:PlantMachinery 2015-11-01 2016-10-31 04431746 2015-10-31 04431746 2015-10-31 iso4217:GBP

Registration number: 04431746

Direct Autos Servicing (Holdings) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Brothertons Accountants Ltd
2 Commercial House
Abbeymead Avenue
Gloucester
GL4 5UA

 

Direct Autos Servicing (Holdings) Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Direct Autos Servicing (Holdings) Limited
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Direct Autos Servicing (Holdings) Limited for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Direct Autos Servicing (Holdings) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Direct Autos Servicing (Holdings) Limited . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Direct Autos Servicing (Holdings) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Direct Autos Servicing (Holdings) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Direct Autos Servicing (Holdings) Limited. You consider that Direct Autos Servicing (Holdings) Limited 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 accounts of Direct Autos Servicing (Holdings) Limited. 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 accounts.

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

Brothertons Accountants Ltd
2 Commercial House
Abbeymead Avenue
Gloucester
GL4 5UA

7 March 2017

Page 1

 

Direct Autos Servicing (Holdings) Limited
(Registration number: 04431746)
Abbreviated Balance Sheet at 31 October 2016

   

Note

    

2016
£

    

2015
£

  

Fixed assets

  

             

Tangible fixed assets

  

   

173,977

   

153,692

 

Current assets

  

             

Stocks

  

   

416,598

   

373,667

 

Debtors

  

   

99,913

   

92,525

 

Cash at bank and in hand

  

   

6,292

   

15,614

 
   

   

522,803

   

481,806

 

Creditors: Amounts falling due within one year

  

   

(267,925)

   

(240,819)

 

Net current assets

  

   

254,878

   

240,987

 

Total assets less current liabilities

  

   

428,855

   

394,679

 

Creditors: Amounts falling due after more than one year

  

   

(139,901)

   

(153,789)

 

Net assets

  

   

288,954

   

240,890

 

Capital and reserves

  

             

Called up share capital

 

3

   

2

   

2

 

Revaluation reserve

  

   

17,581

   

-

  

Profit and loss account

  

   

271,371

   

240,888

 

Shareholders' funds

  

   

288,954

   

240,890

 

For the year ending 31 October 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 director acknowledges his 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 director on 7 March 2017

.........................................
Mr Paul Roger Beard
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

Direct Autos Servicing (Holdings) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

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 the sale of goods and services to customers.

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

Asset class

Amortisation method and rate

Goodwill

10 years straight Line

Depreciation

Depreciation

Asset class

Depreciation method and rate

P & M

20% Reducing Balance

Motor

20% Reducing Balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

 

Direct Autos Servicing (Holdings) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2

Fixed assets

   

Intangible assets
£

    

Tangible assets
£

    

Total
£

  

Cost

                  

At 1 November 2015

  

10,000

    

203,371

    

213,371

  

Revaluations

  

-

    

17,581

    

17,581

  

Additions

  

-

    

4,950

    

4,950

  

At 31 October 2016

  

10,000

    

225,902

    

235,902

  

Depreciation

                  

At 1 November 2015

  

10,000

    

49,679

    

59,679

  

Charge for the year

  

-

    

2,246

    

2,246

  

At 31 October 2016

  

10,000

    

51,925

    

61,925

  

Net book value

                  

At 31 October 2016

  

-

    

173,977

   

173,977

 

At 31 October 2015

  

-

    

153,692

   

153,692

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary Shares of £1 each

 

2

   

2

   

2

   

2

                         

Page 4