|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2017 |
|
for |
|
Bideford Auto Services Ltd |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2017 |
|
for |
|
Bideford Auto Services Ltd |
Bideford Auto Services Ltd (Registered number: 06029296) |
|
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Abridged Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Bideford Auto Services Ltd |
|
Company Information |
for the Year Ended 31 March 2017 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
69 High Street |
Bideford |
Devon |
EX39 2AT |
Bideford Auto Services Ltd (Registered number: 06029296) |
|
Abridged Balance Sheet |
31 March 2017 |
|
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
|
|
Tangible assets | 6 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors |
|
|
Cash in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
( |
) |
|
CREDITORS |
Amounts falling due after more than one
year |
( |
) |
|
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS/(LIABILITIES) |
|
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 9 |
|
|
Retained earnings |
|
( |
) |
SHAREHOLDERS' FUNDS |
|
( |
) |
|
|
|
|
|
The director acknowledges his 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. |
Bideford Auto Services Ltd (Registered number: 06029296) |
|
Abridged Balance Sheet - continued |
31 March 2017 |
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
Bideford Auto Services Ltd (Registered number: 06029296) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
|
|
1. | STATUTORY INFORMATION |
|
Bideford Auto Services Ltd is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The principal accounting policies adopted in the preparation of the financial statements are set out below and |
remain unchanged from the previous period, and also have been consistently applied within the same accounts. |
|
These financial statements are the first financial statements to comply with FRS 102 Section 1A small entities. |
The date of transition is the first day of the previous accounting period. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Goodwill |
Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings |
acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful |
economic life of 20 years. |
|
Tangible fixed assets |
|
Improvements to property | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and |
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating |
as intended by management. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
|
Financial instruments |
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in |
administrative expenses. Loans and borrowings are initially recognised at the transaction price including |
transaction costs. |
|
Bideford Auto Services Ltd (Registered number: 06029296) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
|
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
|
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 profit or loss in the period to which they relate. |
|
Going concern |
The company has has net current liabilities of £14,221 (2016 - £19,256). |
|
The company is reliant on the continuing financial support of its creditors and while there are no reasons to |
doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this |
basis, and having regard to the company's anticipated future revenues and costs including repayment of debt |
where appropriate, together with the expected availability of working capital, the director considers it |
appropriate to prepare the financial statements on the going concern basis. The financial statements do not |
include any adjustments that would result from an inability to meet obligations as they fall due. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Bideford Auto Services Ltd (Registered number: 06029296) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
|
5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
|
AMORTISATION |
At 1 April 2016 |
|
Amortisation for year |
|
At 31 March 2017 |
|
NET BOOK VALUE |
|
At 31 March 2017 |
|
At 31 March 2016 |
|
|
6. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2016 |
|
Additions |
|
Disposals | ( |
) |
At 31 March 2017 |
|
DEPRECIATION |
At 1 April 2016 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 31 March 2017 |
|
NET BOOK VALUE |
At 31 March 2017 |
|
At 31 March 2016 |
|
|
Bideford Auto Services Ltd (Registered number: 06029296) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
|
7. | LEASING AGREEMENTS |
|
Minimum lease payments under finance leases fall due as follows: |
|
Finance leases |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2017 | 2016 |
£ | £ |
Bank overdrafts |
|
|
Finance leases |
|
|
|
|
|
The bank overdraft is secured by fixed and floating charges over the company's assets. |
|
The finance lease contract is secured on the assets to which it relates. |
|
9. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
|
Ordinary | £1 | 1 | 1 |
|
10. | FIRST YEAR ADOPTION |
|
No adjustments to accounting policies or equity have been required as a result of the transition to FRS 102 |
Section 1A in these financial statements. |
|