PICKARD_GARAGE_SERVICES_L - Accounts

PICKARD GARAGE SERVICES LIMITED - Company Information

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Company Registration No. 06847021 (England and Wales)

PICKARD GARAGE SERVICES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

PICKARD GARAGE SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PICKARD GARAGE SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

39,541

37,119

Current assets

Stocks

8,863

10,987

Debtors

5,288

9,008

Cash at bank and in hand

4,870

19,021

19,995

Creditors: amounts falling due within one year

(74,986)

(86,716)

Net current liabilities

(55,965)

(66,721)

Total assets less current liabilities

(16,424)

(29,602)

Creditors: amounts falling due after more than one year

(16,320)

(16,826)

(32,744)

(46,428)

Capital and reserves

Called up share capital

Profit and loss account

(32,746)

(46,430)

Shareholders' funds

(32,744)

(46,428)

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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;

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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 20 June 2016

Mr SR Pickard

Director

Company Registration No. 06847021

PICKARD GARAGE SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost 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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Nil

Plant and machinery

25% on cost

Motor vehicles

25% on cost

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.

PICKARD GARAGE SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

54,249

Additions

11,375

At 31 March 2016

65,624

Depreciation

At 1 April 2015

17,130

Charge for the year

8,953

At 31 March 2016

26,083

Net book value

At 31 March 2016

39,541

At 31 March 2015

37,119

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

7,480

7,986

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary of £1 each