Joblings Garage Ltd - Accounts to registrar (filleted) - small 18.2
Joblings Garage Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2018 |
| for |
| JOBLINGS GARAGE LTD |
| JOBLINGS GARAGE LTD (REGISTERED NUMBER: 03259853) |
| Contents of the Financial Statements |
| for the year ended 31 May 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JOBLINGS GARAGE LTD |
| Company Information |
| for the year ended 31 May 2018 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| Sterling House |
| 19/23 High Street |
| Kidlington |
| Oxfordshire |
| OX5 2DH |
| JOBLINGS GARAGE LTD (REGISTERED NUMBER: 03259853) |
| Balance Sheet |
| 31 May 2018 |
| 31/5/18 | 31/5/17 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| Current assets |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets/(liabilities) | ( |
) |
| Total assets less current liabilities |
| Provisions for liabilities |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Share premium | 9 |
| Fair value reserve | 9 |
| Retained earnings | 9 |
| 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. |
| JOBLINGS GARAGE LTD (REGISTERED NUMBER: 03259853) |
| Balance Sheet - continued |
| 31 May 2018 |
| 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 |
| JOBLINGS GARAGE LTD (REGISTERED NUMBER: 03259853) |
| Notes to the Financial Statements |
| for the year ended 31 May 2018 |
| 1. | Statutory information |
| Joblings Garage Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes |
| in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| 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. |
| JOBLINGS GARAGE LTD (REGISTERED NUMBER: 03259853) |
| Notes to the Financial Statements - continued |
| for the year ended 31 May 2018 |
| 2. | Accounting policies - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Cost |
| At 1 June 2017 |
| Additions |
| At 31 May 2018 |
| Depreciation |
| At 1 June 2017 |
| Charge for year |
| At 31 May 2018 |
| Net book value |
| At 31 May 2018 |
| At 31 May 2017 |
| 5. | Fixed asset investments |
| Other |
| investments |
| £ |
| Cost |
| At 1 June 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 May 2018 |
| Net book value |
| At 31 May 2018 |
| At 31 May 2017 |
| JOBLINGS GARAGE LTD (REGISTERED NUMBER: 03259853) |
| Notes to the Financial Statements - continued |
| for the year ended 31 May 2018 |
| 6. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 June 2017 |
| Revaluations | 50,000 |
| At 31 May 2018 |
| Net book value |
| At 31 May 2018 |
| At 31 May 2017 |
| Fair value at 31 May 2018 is represented by: |
| £ |
| Valuation in 2015 | 23,508 |
| Valuation in 2016 | 20,000 |
| Valuation in 2018 | 50,000 |
| Cost | 256,492 |
| 350,000 |
| 7. | Debtors: amounts falling due within one year |
| 31/5/18 | 31/5/17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | Creditors: amounts falling due within one year |
| 31/5/18 | 31/5/17 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| JOBLINGS GARAGE LTD (REGISTERED NUMBER: 03259853) |
| Notes to the Financial Statements - continued |
| for the year ended 31 May 2018 |
| 9. | Reserves |
| Retained | Share | Fair value |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 June 2017 | 767,751 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Transfer to fair value reserve | (50,000 | ) | - | 50,000 | - |
| Movement in deferred tax | - | - | (12,844 | ) | (12,844 | ) |
| At 31 May 2018 | 773,700 |
| 10. | Other financial commitments |
| At 31 May 2018, the company had commitments under operating leases amounting to £1,008,000 (2017 - |
| £1,134,000.) |
| 11. | Directors' advances, credits and guarantees |
| The following advances and credits to directors subsisted during the years ended 31 May 2018 and |
| 31 May 2017: |
| 31/5/18 | 31/5/17 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |