Registered number: 05988086 | ||||||||
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FOR THE YEAR ENDED 31/03/2019 | ||||||||
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Prepared By: | ||||||||
Cooks - Chartered Accountants | ||||||||
Chartered Accountants | ||||||||
Zone 2 | ||||||||
Wrentham Business Centre | ||||||||
Prospect Park | ||||||||
EXETER | ||||||||
EX4 6NA |
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County Garage (Newton Abbot) Ltd | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2019 | ||||||||
DIRECTORS | ||||||||
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REGISTERED OFFICE | ||||||||
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EXETER | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 05988086 | ||||||||
ACCOUNTANTS | ||||||||
Cooks - Chartered Accountants | ||||||||
Chartered Accountants | ||||||||
Zone 2 | ||||||||
Wrentham Business Centre | ||||||||
Prospect Park | ||||||||
EXETER | ||||||||
EX4 6NA |
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County Garage (Newton Abbot) Ltd | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2019 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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County Garage (Newton Abbot) Ltd | ||||||||
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BALANCE SHEET AT
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2019 | 2018 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 5 |
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Cash at bank and in hand |
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493,926 | 595,686 | |||||||||
CREDITORS: Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES |
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(36,351) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES AND CHARGES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 |
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Profit and loss account | 39,179 | 37,000 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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County Garage (Newton Abbot) Ltd | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2019 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Long Leasehold Properties | straight line 5% | |||||||
Plant and Machinery | straight line 10% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Goodwill | ||||||||
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County Garage (Newton Abbot) Ltd | ||||||||
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2. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/04/2018 | 1,000 | 1,000 | ||
At 31/03/2019 | 1,000 | 1,000 | ||
Depreciation | ||||
At 01/04/2018 | 1,000 | 1,000 | ||
At 31/03/2019 | 1,000 | 1,000 | ||
Net Book Amounts | ||||
At 31/03/2019 |
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3. TANGIBLE FIXED ASSETS | ||||||
Long Leasehold | Plant and | |||||
Properties | Machinery | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/04/2018 | 12,665 | 159,770 | 172,435 | |||
Additions | 50,052 | 8,615 | 58,667 | |||
At 31/03/2019 | 62,717 | 168,385 | 231,102 | |||
Depreciation | ||||||
At 01/04/2018 | 4,996 | 79,127 | 84,123 | |||
For the year | 570 | 3,991 | 4,561 | |||
At 31/03/2019 | 5,566 | 83,118 | 88,684 | |||
Net Book Amounts | ||||||
At 31/03/2019 | 57,151 |
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142,418 | |||
At 31/03/2018 | 7,669 |
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88,312 | |||
4. STOCK | 2019 | 2018 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock: Cars |
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Stock Parts | 43,369 | 45,077 | ||||
Work in progress |
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County Garage (Newton Abbot) Ltd | ||||||||
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5. DEBTORS | 2019 | 2018 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 114,570 | 127,821 | ||||||
Other debtors | - | 32,487 | ||||||
Prepayments | 76,118 | 96,039 | ||||||
190,688 | 256,347 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2019 | 2018 | |||||||
£ | £ | |||||||
UK corporation tax | 2,514 | 2,514 | ||||||
VAT | 19,619 | 23,909 | ||||||
PAYE control | 6,665 | 7,264 | ||||||
Bank loans and overdrafts | - | 26,589 | ||||||
Bank Loan | 147,191 | 197,767 | ||||||
Trade creditors | 317,315 | 240,025 | ||||||
Accruals | 60,322 | 49,534 | ||||||
Amounts due to group companies | 27,455 | 84,435 | ||||||
581,081 | 632,037 | |||||||
7. EMPLOYEES | ||||||
2019 | 2018 | |||||
No. | No. | |||||
Average number of employees | - | - | ||||
8. PROVISIONS FOR LIABILITIES | 2019 | 2018 | ||||||
£ | £ | |||||||
Deferred taxation | 15,084 | 13,961 | ||||||
15,084 | 13,961 | |||||||
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County Garage (Newton Abbot) Ltd | ||||||||
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9. SHARE CAPITAL | 2019 | 2018 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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1000 | 1000 | ||||||
1,000 | 1,000 | |||||||
10. CONTROLLING PARTY | ||||||||
In the opinion of the directors the ultimate controlling party of the company is Mr & Mrs D. M. Dart. | ||||||||