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REGISTERED NUMBER:
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DRIVESHAFT PARTS LTD |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JUNE 2018 TO 31 MARCH 2019 |
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REGISTERED NUMBER:
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DRIVESHAFT PARTS LTD |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JUNE 2018 TO 31 MARCH 2019 |
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DRIVESHAFT PARTS LTD (REGISTERED NUMBER: 06653579) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 June 2018 to 31 March 2019 |
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Company information | 1 |
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Balance sheet | 2 |
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Notes to the financial statements | 3 |
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DRIVESHAFT PARTS LTD |
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COMPANY INFORMATION |
for the period 1 June 2018 to 31 March 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
and Statutory Auditors |
Lygon House |
50 London Road |
Bromley |
Kent |
BR1 3RA |
DRIVESHAFT PARTS LTD (REGISTERED NUMBER: 06653579) |
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BALANCE SHEET |
31 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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DRIVESHAFT PARTS LTD (REGISTERED NUMBER: 06653579) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 June 2018 to 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Driveshaft Parts Ltd is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The directors have prepared the financial statements on a going concern basis. The directors have received written |
guarantees of continuing financial support from the Group for at least twelve months from the date these financial |
statements were approved. Should the company not return to profitability, and a positive net asset position, after twelve |
months following the date of the approval of these financial statements, the directors are confident that the Group will |
continue to provide support, which in the opinion of the directors, supports the going concern assumption. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
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Taxation |
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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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DRIVESHAFT PARTS LTD (REGISTERED NUMBER: 06653579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 June 2018 to 31 March 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 June 2018 |
and 31 March 2019 |
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DEPRECIATION |
Charge for period |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 May 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the auditors was unqualified. |
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for and on behalf of
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8. | CAPITAL COMMITMENTS |
2019 | 2018 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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DRIVESHAFT PARTS LTD (REGISTERED NUMBER: 06653579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 June 2018 to 31 March 2019 |
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9. | CONTROLLING PARTY |
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Propshaft Rebuilders (PTY) Limited is the parent company of the smallest group for which consolidated accounts are |
prepared. Propshaft Rebuilders (PTY) Limited is incorporated in South Africa. The registered office of Propshaft |
Rebuilders (PTY) Limited is 4 Mopedi Street, Sebenza, Gauteng, South Africa, 1614 |
Post Office box: 10335, Edenvale, Gauteng, 1613 |