Chagcroft Motors Limited |
Registered number: |
01300279 |
Abbreviated Balance Sheet |
as at 31 July 2012 |
|
Notes |
|
|
2012 |
|
|
2011 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
203,427 |
|
|
205,998 |
|
Current assets |
Stocks |
|
|
280,952 |
|
|
251,649 |
Debtors |
|
|
35,838 |
|
|
19,993 |
Cash at bank and in hand |
|
|
24,041 |
|
|
36,694 |
|
|
|
340,831 |
|
|
308,336 |
|
Creditors: amounts falling due within one year |
|
|
(168,819) |
|
|
(149,978) |
|
Net current assets |
|
|
|
172,012 |
|
|
158,358 |
|
Net assets |
|
|
|
375,439 |
|
|
364,356 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
4 |
|
|
30,000 |
|
|
30,000 |
Revaluation reserve |
|
|
|
131,617 |
|
|
131,617 |
Profit and loss account |
|
|
|
213,822 |
|
|
202,739 |
|
Shareholders' funds |
|
|
|
375,439 |
|
|
364,356 |
|
|
|
|
|
|
|
|
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 31 March 2013 |
|
Chagcroft Motors Limited |
Notes to the Abbreviated Accounts |
for the year ended 31 July 2012 |
|
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 2011 |
263,716 |
|
At 31 July 2012 |
263,716 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2011 |
57,718 |
|
Charge for the year |
2,571 |
|
At 31 July 2012 |
60,289 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2012 |
203,427 |
|
At 31 July 2011 |
205,998 |
|
|
|
|
|
|
|
|
3 |
Loans |
2012 |
|
2011 |
£ |
£ |
|
Creditors include: |
|
Secured bank loans |
19,792 |
|
29,374 |
|
|
|
|
|
|
|
|
|
|
4 |
Share capital |
Nominal |
|
2012 |
|
2012 |
|
2011 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
30,000 |
|
30,000 |
|
30,000 |
|
|
|
|
|
|
|
|
|