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Abbreviated Accounts for the Year Ended 31 May 2016 |
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County Garage (West) Ltd. |
REGISTERED NUMBER:
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Abbreviated Accounts for the Year Ended 31 May 2016 |
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for |
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County Garage (West) Ltd. |
County Garage (West) Ltd. (Registered number: SC232180) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 May 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
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Chartered Accountants' Report | 5 |
County Garage (West) Ltd. |
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Company Information |
for the Year Ended 31 May 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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BANKERS: |
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County Garage (West) Ltd. (Registered number: SC232180) |
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Abbreviated Balance Sheet |
31 May 2016 |
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31.5.16 | 31.5.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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. |
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The financial statements were approved by the director on
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County Garage (West) Ltd. (Registered number: SC232180) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 May 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The director considers that the going concern basis of preparation is appropriate due to the continued support of |
the company's bank thereby enabling the company to meets its obligations as they fall due. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Short leasehold | - over the period of the lease |
Plant and machinery | - 25% on a reducing balance basis |
Motor vehicles | - 25% on a reducing balance basis |
Computer equipment | - 33% on a straight line basis |
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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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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 June 2015 |
and 31 May 2016 |
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DEPRECIATION |
At 1 June 2015 |
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Charge for year |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.16 | 31.5.15 |
value: | £ | £ |
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Ordinary | £1 |
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Ordinary A | £1 |
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Ordinary B | £1 |
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County Garage (West) Ltd. (Registered number: SC232180) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 May 2016 |
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4. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 May 2016 and |
31 May 2015: |
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31.5.16 | 31.5.15 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
County Garage (West) Ltd. |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of County Garage (West) Ltd. for the year ended 31 May 2016 which comprise the Profit and Loss |
Account, the Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the director of County Garage (West) Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of County Garage (West) Ltd. and state those matters that we have agreed to state to the director of County Garage (West) Ltd. in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
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It is your duty to ensure that County Garage (West) Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of County Garage (West) Ltd.. You consider that County Garage (West) Ltd. is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of County Garage (West) Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
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22 February 2017 |