Springfield Garage (Hull) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07290989 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2019

FOR

SPRINGFIELD GARAGE (HULL) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Staniforth

S J Staniforth

REGISTERED OFFICE:

593 Anlaby Road

Hull

East Yorkshire

HU3 6ST

REGISTERED NUMBER:

07290989 (England and Wales)

ACCOUNTANTS:

Holdstock Nicholls Train & Co

Accountants

593 Anlaby Road

Hull

East Yorkshire

HU3 6ST

FIXED ASSETS

13,000

Intangible assets

4

13,000

4,622

Tangible assets

5

3,698

17,622

16,698

CURRENT ASSETS

490

Stocks

500

569

Debtors

6

2,537

1,121

Cash at bank

202

2,180

3,239

CREDITORS

16,581

Amounts falling due within one year

7

16,960

(14,401

)

NET CURRENT LIABILITIES

(13,721

)

3,221

TOTAL ASSETS LESS CURRENT LIABILITIES

2,977

CAPITAL AND RESERVES

2,714

Called up share capital

2,714

507

Retained earnings

263

3,221

SHAREHOLDERS' FUNDS

2,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 24th May 2019 and were signed on its behalf by:

J Staniforth - Director

S J Staniforth - Director

1.	STATUTORY INFORMATION

Springfield Garage (Hull) Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

20% on reducing balance

Motor vehicles

-

20% 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.

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 3 (2018 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2018

and 31st March 2019

13,000

NET BOOK VALUE

At 31st March 2019

13,000

At 31st March 2018

13,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Totals

fittings

vehicles

£

£

£

COST

At 1st April 2018

and 31st March 2019

9,586

4,686

4,900

DEPRECIATION

At 1st April 2018

4,964

3,200

1,764

Charge for year

924

297

627

At 31st March 2019

5,888

3,497

2,391

NET BOOK VALUE

At 31st March 2019

3,698

1,189

2,509

At 31st March 2018

4,622

1,486

3,136

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

569

Other debtors

2,537

-

2,537

569

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

625

Trade creditors

3,055

3,175

Taxation and social security

9,518

6,723

Other creditors

4,387

6,058

16,960

16,581

8.	RELATED PARTY DISCLOSURES