Company Registration No. 01917978 (England and Wales)
FLEETLINE COACHWORKS LIMITED
Abbreviated unaudited accounts
for the year ended 30 April 2016
FLEETLINE COACHWORKS LIMITED
Abbreviated Balance Sheet
as at 30 April 2016
Tangible assets
136,037
142,666
Cash at bank and in hand
17,218
85,412
Creditors: amounts falling due within one year
(531,832)
(455,549)
Net current assets
349,485
332,704
Total assets less current liabilities
485,522
475,370
Provisions for liabilities
(16,956)
(13,863)
Net assets
468,566
461,507
Called up share capital
32,598
32,598
Share premium
66,472
66,472
Profit and loss account
369,496
362,437
Total shareholders' funds
468,566
461,507
For the year ending 30 April 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 13 January 2017
JEREMY TANN
Director
Company Registration No. 01917978
FLEETLINE COACHWORKS LIMITED
Notes to the Abbreviated Accounts
for the year ended 30 April 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
FLEETLINE COACHWORKS LIMITED
Notes to the Abbreviated Accounts
for the year ended 30 April 2016
Charge for the year
39,945
Allotted, called up and fully paid:
32,598 Ordinary shares of £1 each
32,598
32,598
