MICHAEL_DOUGLAS_AUTOSALVA - Accounts
MICHAEL_DOUGLAS_AUTOSALVA - Accounts
Company Registration No. 04488611 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(46,152 )
(41,534 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(9,644 )
(22,003 )
Provisions for liabilities
(34,097 )
(37,230 )
135,121
138,765
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
- 2 -
Director's responsibilities:
-
-
Approved by the Board for issue on 4 June 2016
Director
Company Registration No. 04488611
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
387,691
Additions
8,555
At 31 December 2015
396,246
Depreciation
At 1 January 2015
200,364
Charge for the year
25,397
At 31 December 2015
225,761
Net book value
At 31 December 2015
170,485
At 31 December 2014
187,327
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4
Related party relationships and transactions
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
-
22,284
-
22,284
-