Barber's Garage Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06156638 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Barber's Garage Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M A Barber

REGISTERED OFFICE:

37 Wragby Road

Sudbrooke

Lincoln

LN2 2QU

REGISTERED NUMBER:

06156638 (England and Wales)

ACCOUNTANTS:

Reeve & Co

Chartered Certified Accountants

Ample House

76a South Park

Lincoln

LN5 8ES

FIXED ASSETS

15,000

Intangible assets

2

12,000

16,362

Tangible assets

3

13,908

31,362

25,908

CURRENT ASSETS

9,700

Stocks

7,725

8,353

Debtors

8,002

40,200

Cash at bank and in hand

35,074

58,253

50,801

CREDITORS

56,337

Amounts falling due within one year

45,666

1,916

NET CURRENT ASSETS

5,135

33,278

TOTAL ASSETS LESS CURRENT LIABILITIES

31,043

CAPITAL AND RESERVES

1

Called up share capital

4

1

33,277

Profit and loss account

31,042

33,278

SHAREHOLDERS' FUNDS

31,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 24 December 2014 and were signed by:

M A Barber - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

30,000

AMORTISATION

At 1 April 2013

15,000

Amortisation for year

3,000

At 31 March 2014

18,000

NET BOOK VALUE

At 31 March 2014

12,000

At 31 March 2013

15,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

33,450

DEPRECIATION

At 1 April 2013

17,088

Charge for year

2,454

At 31 March 2014

19,542

NET BOOK VALUE

At 31 March 2014

13,908

At 31 March 2013

16,362

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

1

Ordinary

£1

1

1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within creditors due within one year are amounts due to Mr M A Barber, the director of the company.

The amount outstanding at the year end was £22,478 (2013: £26,293).