Clacys Garage Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05014368 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2014

for

Clacys Garage Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

I R Clacy

SECRETARY:

W Bradshaw

REGISTERED OFFICE:

London Street

Whitchurch

Hampshire

RG28 7LQ

REGISTERED NUMBER:

05014368 (England and Wales)

ACCOUNTANTS:

Wheeler & Co Ltd

Chartered Accountants

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

FIXED ASSETS

Tangible assets

2

116,251

74,917

CURRENT ASSETS

Stocks

16,234

15,774

Debtors

59,896

59,216

Cash at bank and in hand

117,310

140,041

193,440

215,031

CREDITORS

Amounts falling due within one year

78,885

77,749

NET CURRENT ASSETS

114,555

137,282

TOTAL ASSETS LESS CURRENT LIABILITIES

230,806

212,199

PROVISIONS FOR LIABILITIES

15,230

4,880

NET ASSETS

215,576

207,319

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

215,476

207,219

SHAREHOLDERS' FUNDS

215,576

207,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 3rd December 2014 and were signed by:

I R Clacy - 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 April 2008).

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

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.

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.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

163,069

Additions

81,003

Disposals

(39,728

)

At 31st March 2014

204,344

DEPRECIATION

At 1st April 2013

88,152

Charge for year

27,599

Eliminated on disposal

(27,658

)

At 31st March 2014

88,093

NET BOOK VALUE

At 31st March 2014

116,251

At 31st March 2013

74,917

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

100

Ordinary

£1

100

100