The Independent Garage Cooperative Limit - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08907295 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

THE INDEPENDENT GARAGE COOPERATIVE

LIMITED

Page

Company Information

1

Directors' Responsibilities Statement

2

Independent Chartered Certified Accountant's Review Report

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

D A Poole

S A Wadlow

REGISTERED OFFICE:

32 Birchbrook Industrial Park, Lynn Lane

Shenstone

Lichfield

Staffordshire

WS14 0DJ

REGISTERED NUMBER:

08907295 (England and Wales)

ACCOUNTANT:

Grahame J Harbour Limited

1 Windrush Road

Keynsham

Bristol

Avon

BS31 1QL

The following reproduces the text of the report prepared for the directors and members in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance

Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the

Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2018 and of its loss for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

S A Wadlow - Director

4 June 2018

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

I have reviewed the financial statements of The Independent Garage Cooperative Limited for the year ended 31 March 2018, which comprise the Income Statement, Balance Sheet and the related notes 1 to 10. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with my terms of engagement. My review has been undertaken so that I might state to the directors those matters that I have agreed with them in my engagement letter and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's directors as a body for my work, for this report or the conclusions I have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the

preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountant's responsibility

My responsibility is to express a conclusion based on my review of the financial statements. I conducted my review in accordance

with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements'

and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400

also requires me to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. I have performed

additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of

management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The

procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International

Standards on Auditing (UK and Ireland). Accordingly, I do not express an audit opinion on these financial statements.

Conclusion

Based on my review, nothing has come to my attention that causes me to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 March 2018 and of its loss for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

Grahame J Harbour Limited

1 Windrush Road

Keynsham

Bristol

Avon

BS31 1QL

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

FIXED ASSETS

Intangible assets

4

4,000

10,144

Tangible assets

5

-

331

4,000

10,475

CURRENT ASSETS

Debtors

6

4,724

18,622

Cash at bank

53,897

52,771

58,621

71,393

CREDITORS

Amounts falling due within one year

7

1,483

18,090

NET CURRENT ASSETS

57,138

53,303

TOTAL ASSETS LESS CURRENT LIABILITIES

61,138

63,778

CAPITAL AND RESERVES

Called up share capital

148,600

148,600

Retained earnings

(87,462

)

(84,822

)

SHAREHOLDERS' FUNDS

61,138

63,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 4 June 2018 and were signed on its behalf by:

S A Wadlow - Director

1.	STATUTORY INFORMATION

The Independent Garage Cooperative Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Computer software

The computer software costs are written off on a straight line basis over four 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

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2017

and 31 March 2018

24,500

AMORTISATION

At 1 April 2017

14,356

Amortisation for year

6,144

At 31 March 2018

20,500

NET BOOK VALUE

At 31 March 2018

4,000

At 31 March 2017

10,144

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2017

375

-

690

1,065

Additions

-

3,600

-

3,600

Disposals

-

(3,600

)

-

(3,600

)

At 31 March 2018

375

-

690

1,065

DEPRECIATION

At 1 April 2017

258

-

476

734

Charge for year

117

525

214

856

Eliminated on disposal

-

(525

)

-

(525

)

At 31 March 2018

375

-

690

1,065

NET BOOK VALUE

At 31 March 2018

-

-

-

-

At 31 March 2017

117

-

214

331

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

4,724

15,770

Amounts owed by associates

-

1,662

Prepayments

-

1,190

4,724

18,622

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Payments on account

-

11,813

Trade creditors

-

2,602

Social security and other taxes

-

1,054

VAT

383

528

Accrued expenses

1,100

2,093

1,483

18,090