MERCURY_GARAGE_WARSOP_VAL - Accounts

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED - Company Information

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Company Registration No. 04330763 (England and Wales)

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

3,600

5,400

Tangible assets

242,428

245,660

246,028

251,060

Current assets

Stocks

5,841

5,398

Debtors

13,365

7,319

Cash at bank and in hand

500

14,850

19,706

27,567

Creditors: amounts falling due within one year

(32,862)

(43,252)

Net current liabilities

(13,156)

(15,685)

Total assets less current liabilities

232,872

235,375

Creditors: amounts falling due after more than one year

(126,285)

(133,545)

Provisions for liabilities

(1,721)

104,866

101,830

Capital and reserves

Called up share capital

100

Profit and loss account

104,766

101,730

Shareholders' funds

104,866

101,830

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

28 FEBRUARY 2014

- 2 -

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

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 May 2014

Mr John Griffiths

Director

Company Registration No. 04330763

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 3 -

Accounting policies

1.1

Accounting convention

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

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Nil

Plant and machinery

15% Reducing balance

Motor vehicles

25% Reducing balance

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

MERCURY GARAGE/WARSOP VALE TYRE SERVICE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 March 2013

9,000

283,182

292,182

Additions

4,550

At 28 February 2014

9,000

287,732

296,732

Depreciation

At 1 March 2013

3,600

37,523

41,123

Charge for the year

1,800

7,781

9,581

At 28 February 2014

5,400

45,304

50,704

Net book value

At 28 February 2014

3,600

242,428

246,028

At 28 February 2013

5,400

245,660

251,060

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £7,261).

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

97,242

104,503

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £133,545).

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary of £1 each

100