Registered number
01300279
Chagcroft Motors Limited
Abbreviated Accounts
31 July 2013
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
Chagcroft Motors Limited 01300279 false true 2012-08-01 2013-07-31 2013-07-31 J K Palmer 01300279 2012-07-30 01300279 uk-bus:OrdinaryShareClass1 2012-07-30 01300279 2012-08-01 2013-07-31 01300279 uk-bus:Director40 2012-08-01 2013-07-31 01300279 uk-gaap:PlantMachinery 2012-08-01 2013-07-31 01300279 uk-gaap:MotorVehicles 2012-08-01 2013-07-31 01300279 uk-bus:OrdinaryShareClass1 2012-08-01 2013-07-31 01300279 2013-07-31 01300279 uk-bus:OrdinaryShareClass1 2013-07-31 01300279 2012-07-31 iso4217:GBP xbrli:shares