Registration number:
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Crown Garage (Leek) Limited
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Crown Garage (Leek) Limited
(Registration number: 05189754)
Abbreviated Balance Sheet at 31 July 2016
Note |
2016
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2015
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
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Mr David Anthony Lawson
Director
1
Crown Garage (Leek) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued
Accounting policies |
Basis of preparation
Revenue Recognition
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Motor vehicles |
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Office equipment |
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Equipment |
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Investment properties
Crown Garage (Leek) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued
Stock
Hire purchase and leasing
Financial instruments
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 August 2015 |
65,000 |
228,860 |
293,860 |
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At 31 July 2016 |
65,000 |
228,860 |
293,860 |
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Depreciation |
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At 1 August 2015 |
65,000 |
26,837 |
91,837 |
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Charge for the year |
- |
2,370 |
2,370 |
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At 31 July 2016 |
65,000 |
29,207 |
94,207 |
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Net book value |
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At 31 July 2016 |
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At 31 July 2015 |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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Crown Garage (Leek) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued
Going Concern |
The directors have reviewed the performance of the company since the end of the accounting period. The level of turnover remains consistent, there are sufficient cashflows to meet the ongoing liabilities and the company is continuing to generate a profit. Therefore the directors are satisfied that there are no material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern.