true
MACS GARAGE (WITNEY) LTD
05389184
2015-05-31
2584
6073
2592
6081
8
8
2592
6081
2592
6081
-16085
-13422
32791
35334
16706
21912
9211
5089
7000
5800
495
11023
18677
19503
18677
19503
Basis of accounting
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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Goodwill-3 years straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Plant & Machinery
Reducing balance
0.2500
Motor Vehicles
Reducing balance
0.2500
Office Equipment
Reducing balance
0.2500
200000
200000
200000
200000
84374
78973
5401
65697
59470
6227
284374
278973
5401
265697
259470
6227
Ordinary
10000
0.01
100
100
Ordinary
400
1
400
400
Ordinary 'A'
100
1
100
100
Ordinary 'B'
100
1
100
100
Ordinary 'C'
100
1
100
100
Ordinary 'D'
100
1
100
100
Ordinary
1
4
4
4
Ordinary 'A'
1
1
1
1
Ordinary 'B'
1
1
1
1
Ordinary 'C'
1
1
1
1
Ordinary 'D'
1
1
1
1
2015-11-12
Mrs L M McShane
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
MACS GARAGE (WITNEY) LTD
2014-06-01
2015-05-31
MACS GARAGE (WITNEY) LTD
2013-06-01
2014-05-31
MACS GARAGE (WITNEY) LTD
2013-05-31
MACS GARAGE (WITNEY) LTD
2014-05-31
MACS GARAGE (WITNEY) LTD
2014-05-31
MACS GARAGE (WITNEY) LTD
2015-05-31
2015-11-13