County Garage Repairs Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC313481 (Scotland)

Financial Statements for the Year Ended 31 January 2018

for

County Garage Repairs Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

4

4,815

5,408

CURRENT ASSETS

Stocks

3,069

2,892

Debtors

5

2,014

2,347

Cash at bank and in hand

14,174

32,155

19,257

37,394

CREDITORS

Amounts falling due within one year

6

22,910

26,183

NET CURRENT (LIABILITIES)/ASSETS

(3,653

)

11,211

TOTAL ASSETS LESS CURRENT LIABILITIES

1,162

16,619

PROVISIONS FOR LIABILITIES

915

1,072

NET ASSETS

247

15,547

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

237

15,537

SHAREHOLDERS' FUNDS

247

15,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 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 21 May 2018 and were signed on its behalf by:

Mrs L McAndie - Director

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 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 4 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2017

21,783

Additions

1,012

At 31 January 2018

22,795

DEPRECIATION

At 1 February 2017

16,375

Charge for year

1,605

At 31 January 2018

17,980

NET BOOK VALUE

At 31 January 2018

4,815

At 31 January 2017

5,408

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/18

31/1/17

£

£

Trade debtors

1,687

2,040

Other debtors

327

307

2,014

2,347

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/18

31/1/17

£

£

Trade creditors

11,776

9,792

Taxation and social security

8,275

10,278

Other creditors

2,859

6,113

22,910

26,183

7.	RELATED PARTY DISCLOSURES

During the year the directors' Mr Derek McAndie & Mrs Lynne McAndie advanced the company net amounts totalling

£1,359. This amount remained outstanding at 31/01/2018 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 - £15,800

Mrs Lynne McAndie - £15,800

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%