Birway Garage Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01146566

BIRWAY GARAGE LIMITED

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs P M Hammonds

C Hammonds

A Hammonds

P R Hammonds

SECRETARY:

C Hammonds

REGISTERED OFFICE:

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

REGISTERED NUMBER:

01146566

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Tangible assets

2

815,924

786,720

CURRENT ASSETS

Stocks

26,221

187,627

Debtors

504,218

282,569

530,439

470,196

CREDITORS

Amounts falling due within one year

3

669,788

539,840

NET CURRENT LIABILITIES

(139,349

)

(69,644

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

676,575

717,076

CREDITORS

Amounts falling due after more than one
year

3

(413,042

)

(489,240

)

PROVISIONS FOR LIABILITIES

(35,403

)

(35,403

)

NET ASSETS

228,130

192,433

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

228,128

192,431

SHAREHOLDERS' FUNDS

228,130

192,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 November 2016 and were signed on its behalf
by:

A Hammonds - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related

Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

The company is charged rent by directors of £26,560 (£24,960 - 2015) in respect of land and industrial

buildings.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

1,468,153

Additions

205,756

Disposals

(222,437

)

Transfer to ownership

147,387

At 31 March 2016

1,598,859

DEPRECIATION

At 1 April 2015

681,433

Charge for year

174,850

Eliminated on disposal

(220,735

)

Transfer to ownership

147,387

At 31 March 2016

782,935

NET BOOK VALUE

At 31 March 2016

815,924

At 31 March 2015

786,720

3.

CREDITORS

Creditors include an amount of £ 680,395 (2015 - £ 748,496 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

5.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Hammonds Group Limited.