Commercial Trailer Service Limited - Period Ending 2013-12-31

Registration number: 02871639

Commercial Trailer Service Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Melville Morris Chartered Accountant
3rd Floor
Trident House
31-33 Dale Street
Liverpool
L2 2HF

Commercial Trailer Service Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Commercial Trailer Service Limited
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Commercial Trailer Service Limited for the year ended 31 December 2013 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Commercial Trailer Service Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Commercial Trailer Service Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Commercial Trailer Service Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Commercial Trailer Service Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Commercial Trailer Service Limited. You consider that Commercial Trailer Service Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Commercial Trailer Service Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Melville Morris Chartered Accountant
3rd Floor
Trident House
31-33 Dale Street
Liverpool
L2 2HF

9 September 2014

Page 1

Commercial Trailer Service Limited
(Registration number: 02871639)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					369,204			363,716
Current assets
Stocks					130,029			184,200
Debtors					325,513			361,278
Cash at bank and in hand					424,232			415,723
					879,774			961,201
Creditors: Amounts falling due within one year					(97,351)			(40,487)
Net current assets					782,423			920,714
Net assets					1,151,627			1,284,430
Capital and reserves
Called up share capital		3			2,000			2,000
Profit and loss account					1,149,627			1,282,430
Shareholders' funds					1,151,627			1,284,430

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 9 September 2014 and signed on its behalf by:

.........................................
Mr S J Callister
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Commercial Trailer Service Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	not depreciated
Plant and machinery	15% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Commercial Trailer Service Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		367,124			367,124
Additions		6,668			6,668
At 31 December 2013		373,792			373,792
Depreciation
At 1 January 2013		3,408			3,408
Charge for the year		1,180			1,180
At 31 December 2013		4,588			4,588
Net book value
At 31 December 2013		369,204			369,204
At 31 December 2012		363,716			363,716

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary of £1 each		2,000			2,000			2,000			2,000

Page 4