County Garage Repairs Ltd - Accounts to registrar - small 17.1.1

County Garage Repairs Ltd - Accounts to registrar - small 17.1.1


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REGISTERED NUMBER: SC313481(Scotland)















Financial Statements for the Year Ended 31 January 2017

for

County Garage Repairs Ltd

County Garage Repairs Ltd (Registered number: SC313481)






Contents of the Financial Statements
for the Year Ended 31 January 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


County Garage Repairs Ltd

Company Information
for the Year Ended 31 January 2017







DIRECTORS: Derek McAndie
Mrs L McAndie





SECRETARY: Mrs L McAndie





REGISTERED OFFICE: Hospital Road
Ellon
ABERDEENSHIRE
AB41 9AW





REGISTERED NUMBER: SC313481(Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
ABERDEENSHIRE
AB41 9LJ

County Garage Repairs Ltd (Registered number: SC313481)

Balance Sheet
31 January 2017

31.1.17 31.1.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,408 5,166

CURRENT ASSETS
Stocks 2,892 3,156
Debtors 5 2,347 3,127
Cash at bank and in hand 32,155 20,506
37,394 26,789
CREDITORS
Amounts falling due within one year 6 26,183 30,610
NET CURRENT ASSETS/(LIABILITIES) 11,211 (3,821 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,619

1,345

PROVISIONS FOR LIABILITIES 1,072 1,021
NET ASSETS 15,547 324

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 15,537 314
SHAREHOLDERS' FUNDS 15,547 324

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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.

County Garage Repairs Ltd (Registered number: SC313481)

Balance Sheet - continued
31 January 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 June 2017and were signed on its behalf by:





Mrs L McAndie- Director


County Garage Repairs Ltd (Registered number: SC313481)

Notes to the Financial Statements
for the Year Ended 31 January 2017

1. STATUTORY INFORMATION

County Garage Repairs Ltd is a private company, limited by shares, registered in Scotland. The company's registered
number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent
that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or
substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted
or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3.

County Garage Repairs Ltd (Registered number: SC313481)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2016 19,738
Additions 2,045
At 31 January 2017 21,783
DEPRECIATION
At 1 February 2016 14,572
Charge for year 1,803
At 31 January 2017 16,375
NET BOOK VALUE
At 31 January 2017 5,408
At 31 January 2016 5,166

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.17 31.1.16
£    £   
Trade debtors 2,040 2,684
Other debtors 307 443
2,347 3,127

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.17 31.1.16
£    £   
Trade creditors 9,792 7,860
Taxation and social security 10,278 14,972
Other creditors 6,113 7,778
26,183 30,610

7. RELATED PARTY DISCLOSURES

During the year the directors' Mr Derek McAndie & Mrs Lynne McAndie advanced the company net amounts totalling
£4,613. This amount remained outstanding at 31/01/2017 and is included within Other creditors in the notes to the
accounts.

During the year the directors received net dividends, detailed below, from the company.

Mr Derek McAndie - £4,950
Mrs Lynne McAndie - £4,950

County Garage Repairs Ltd (Registered number: SC313481)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

8. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the directors by virtue of their percentage holding in the ordinary share
capital of the company which is detailed below.

Mr Derek McAndie - 50%
Mrs Lynne McAndie - 50%