Elburton Garages Limited Filleted accounts for Companies House (small and micro)
Elburton Garages Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
01048556
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Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
7 |
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Current assets
Stocks |
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Debtors |
8 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
9 |
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Net current assets |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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Net assets |
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Statement of Financial Position (continued) |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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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 financial statements were approved by the
board of directors
and authorised for issue on
31 October 2018
, and are signed on behalf of the board by:
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Director |
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Company registration number:
01048556
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Notes to the Financial Statements |
Year Ended 31 January 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Arcadia Road, Elburton, Plymouth, Devon, PL9 8EG.
2.
Statement of compliance
3.
Other interest receivable and similar income
2018 |
Year ended 31/01/2017 |
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£ |
£ |
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Interest on bank deposits |
245 |
734 |
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4.
Accounting policies
Basis of preparation
Revenue recognition
Taxes
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Impairment of fixed assets
Stocks
Provisions
Defined contribution plans
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2017:
8
).
6.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 February 2017 and 31 January 2018 |
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Amortisation |
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At 1 February 2017 and 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
– |
------- |
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At 31 January 2017 |
– |
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7.
Tangible assets
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 February 2017 |
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Additions |
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– |
– |
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At 31 January 2018 |
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Depreciation |
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At 1 February 2017 |
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Charge for the year |
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– |
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At 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
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– |
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At 31 January 2017 |
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– |
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8.
Debtors
2018 |
2017 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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The debtors above include the following amounts falling due after more than one year:
2018 |
2017 |
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£ |
£ |
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Other debtors |
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9.
Creditors:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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10.
Related party transactions
The company was under the control of
Mr D G Bowrey
throughout the current period and previous year. He is the sole director and shareholder. During the period the company paid rent of £8,000 (2017: £12,000) to the director in respect of its trading premises. This rent is considered to be at a commercial rate. During the period a loan account existed between the company and the director, Mr D G Bowrey
. The balance brought forward was £996 (owed by the company); paid in period £1,184; repaid in period £5,000; balance carried forward: £4,812 (owed by the company). No interest is payable by the company on this loan and there is no fixed date for repayment. Dividends of £5,000 (2017: £6,000) were paid to the director during the period.