Company Registration No. 06847021 (England and Wales)
PICKARD GARAGE SERVICES LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
PICKARD GARAGE SERVICES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PICKARD GARAGE SERVICES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
37,119
31,656
Current assets
Stocks
10,987
13,297
Debtors
9,008
3,649
19,995
16,946
Creditors: amounts falling due within one year
(86,716)
(82,431)
Net current liabilities
(66,721)
(65,485)
Total assets less current liabilities
(29,602)
(33,829)
Creditors: amounts falling due after more than one year
3
(16,826)
(19,332)
(46,428)
(53,161)
Capital and reserves
Called up share capital
4
2
2
Profit and loss account
(46,430)
(53,163)
Shareholders' funds
(46,428)
(53,161)
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 6 June 2015
Mr SR Pickard
Director
Company Registration No. 06847021
PICKARD GARAGE SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Nil
Plant and machinery
25% on cost
Motor vehicles
25% on cost
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
PICKARD GARAGE SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014
40,724
Additions
13,525
At 31 March 2015
54,249
Depreciation
At 1 April 2014
9,068
Charge for the year
8,062
At 31 March 2015
17,130
Net book value
At 31 March 2015
37,119
At 31 March 2014
31,656
3
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
7,986
-
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary of £1 each
2
2