County Garage Repairs Ltd - Limited company - abbreviated

REGISTERED NUMBER: SC313481 (Scotland)

Abbreviated Accounts for the Year Ended 31 January 2014

for

County Garage Repairs Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

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

2

8,881

4,942

CURRENT ASSETS

Stocks

2,426

683

Debtors

2,709

2,035

Cash at bank and in hand

17,275

20,939

22,410

23,657

CREDITORS

Amounts falling due within one year

29,497

27,563

NET CURRENT LIABILITIES

(7,087

)

(3,906

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,794

1,036

PROVISIONS FOR LIABILITIES

1,757

965

NET ASSETS

37

71

CAPITAL AND RESERVES

Called up share capital

3

10

Profit and loss account

27

61

SHAREHOLDERS' FUNDS

37

71

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2014 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 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 Board of Directors on 20 August 2014 and were signed on its behalf by:

Mrs L McAndie - 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 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.

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

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 1 February 2013

12,535

Additions

6,900

At 31 January 2014

19,435

DEPRECIATION

At 1 February 2013

7,593

Charge for year

2,961

At 31 January 2014

10,554

NET BOOK VALUE

At 31 January 2014

8,881

At 31 January 2013

4,942

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.14

31.1.13

value:

£

10

Ordinary

1.00

10

4.	RELATED PARTY DISCLOSURES

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

totalling £3,880. This amount remained outstanding at 31/01/2014 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 - £19,500

Mrs Lynne McAndie - £19,500

5.	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%