| Chagcroft Motors Limited |
| Registered number: |
01300279 |
| Abbreviated Balance Sheet |
| as at 31 July 2013 |
|
| Notes |
|
|
2013 |
|
|
2012 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
202,587 |
|
|
203,428 |
|
| Current assets |
| Stocks |
|
|
302,110 |
|
|
280,952 |
| Debtors |
|
|
37,685 |
|
|
35,837 |
| Cash at bank and in hand |
|
|
10,101 |
|
|
24,041 |
|
|
|
349,896 |
|
|
340,830 |
|
| Creditors: amounts falling due within one year |
|
|
(170,648) |
|
|
(169,636) |
|
| Net current assets |
|
|
|
179,248 |
|
|
171,194 |
|
| Net assets |
|
|
|
381,835 |
|
|
374,622 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
30,000 |
|
|
30,000 |
| Revaluation reserve |
|
|
|
131,617 |
|
|
131,617 |
| Profit and loss account |
|
|
|
220,218 |
|
|
213,005 |
|
| Shareholders' funds |
|
|
|
381,835 |
|
|
374,622 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| J K Palmer |
| Director |
| Approved by the board on 8 March 2014 |
|
| Chagcroft Motors Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 July 2013 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
10% on the reducing balance |
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 August 2012 |
263,716 |
|
Additions |
1,636 |
|
At 31 July 2013 |
265,352 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2012 |
60,288 |
|
Charge for the year |
2,477 |
|
At 31 July 2013 |
62,765 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2013 |
202,587 |
|
At 31 July 2012 |
203,428 |
|
|
|
|
|
|
|
|
| 3 |
Loans |
2013 |
|
2012 |
| £ |
£ |
|
Creditors include: |
|
Secured bank loans |
19,792 |
|
19,792 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2013 |
|
2013 |
|
2012 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
30,000 |
|
30,000 |
|
30,000 |
|
|
|
|
|
|
|
|
|