South Western Coachworks Limited - Period Ending 2015-12-31

Registration number: 1673850

South Western Coachworks Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

South Western Coachworks Limited
(Registration number: 1673850)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			5,235			4,741
Current assets
Stocks					9,500			37,482
Debtors					12,997			21,008
Cash at bank and in hand					35,078			225
					57,575			58,715
Creditors: Amounts falling due within one year					(34,279)			(28,039)
Net current assets					23,296			30,676
Total assets less current liabilities					28,531			35,417
Provisions for liabilities					(1,045)			(946)
Net assets					27,486			34,471
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					27,386			34,371
Shareholders' funds					27,486			34,471

For the year ending 31 December 2015 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 director acknowledges his 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 director on 9 December 2016

.........................................
Mr Elliott Dale
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

South Western Coachworks Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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 January 2015).

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
Plant and machinery	15% on written down value
Motor vehicles	25% on written down value

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

South Western Coachworks Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		40,100			40,100
Additions		1,373			1,373
At 31 December 2015		41,473			41,473
Depreciation
At 1 January 2015		35,359			35,359
Charge for the year		879			879
At 31 December 2015		36,238			36,238
Net book value
At 31 December 2015		5,235			5,235
At 31 December 2014		4,741			4,741

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Elliott Dale
	-	-	15,729	11,932

Page 3