The Chauffeur Group Limited
Registered number: 04216666
Balance Sheet
as at 31 December 2016
Notes 2016 2015
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 6,409 8,087
6,410 8,088
Current assets
Debtors 5 281,631 210,115
Cash at bank and in hand 14,665 6,935
296,296 217,050
Creditors: amounts falling due within one year 6 (225,267) (85,644)
Net current assets 71,029 131,406
Total assets less current liabilities 77,439 139,494
Creditors: amounts falling due after more than one year 7 (185,831) (287,267)
Net liabilities (108,392) (147,773)
Capital and reserves
Called up share capital 800 800
Profit and loss account (109,192) (148,573)
Shareholders' funds (108,392) (147,773)
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.
The 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A R Hancock
Director
Approved by the board on 8 June 2017
The Chauffeur Group Limited
Notes to the Accounts
for the year ended 31 December 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2016 2015
Number Number
Average number of persons employed by the company 9 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2016 648,700
At 31 December 2016 648,700
Amortisation
At 1 January 2016 648,699
At 31 December 2016 648,699
Net book value
At 31 December 2016 1
At 31 December 2015 1
Goodwill has been written down to a nominal sum in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2016 127,315
Additions 2,549
At 31 December 2016 129,864
Depreciation
At 1 January 2016 119,228
Charge for the year 4,227
At 31 December 2016 123,455
Net book value
At 31 December 2016 6,409
At 31 December 2015 8,087
5 Debtors 2016 2015
£ £
Trade debtors 276,738 207,445
Prepayments 4,893 2,670
281,631 210,115
6 Creditors: amounts falling due within one year 2016 2015
£ £
Factor finance 86,221 16,824
Trade creditors 57,205 27,213
Other taxes and social security costs 76,824 36,771
Accruals 5,017 4,836
225,267 85,644
7 Creditors: amounts falling due after one year 2016 2015
£ £
Other creditors 185,831 287,267
8 Loans 2016 2015
£ £
Creditors include:
Secured bank loans 86,221 16,116
A fixed and floating charge dated 29th January 2015 in favour of Santander plc. in respect of factored sales debts.
9 Loans to (from) directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A R Hancock
Long term finance (287,267) - 101,436 (185,831)
(287,267) - 101,436 (185,831)
10 Related party transactions
Aerial Support Services Limited
A Company controlled by director A R Hancock
Amount due from (to) the related party (inc VAT where applicable) 68,600 68,600
11 Controlling party
The company is controlled by director A R Hancock.
12 Other information
The Chauffeur Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2B, Henley Business Park
Pirbright Road
Normandy
Guildford
GU3 2DX
The Chauffeur Group Limited 04216666 false 2016-01-01 2016-12-31 2016-12-31 VT Final Accounts May 2017 release 2 A R Hancock No description of principal activity 04216666 2015-01-01 2015-12-31 04216666 core:WithinOneYear 2015-12-31 04216666 core:AfterOneYear 2015-12-31 04216666 core:ShareCapital 2015-12-31 04216666 core:RetainedEarningsAccumulatedLosses 2015-12-31 04216666 2016-01-01 2016-12-31 04216666 bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 04216666 bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 04216666 bus:Director40 2016-01-01 2016-12-31 04216666 1 2016-01-01 2016-12-31 04216666 2 2016-01-01 2016-12-31 04216666 core:PlantMachinery 2016-01-01 2016-12-31 04216666 bus:Director1 2016-01-01 2016-12-31 04216666 bus:Director1 1 2016-01-01 2016-12-31 04216666 countries:England 2016-01-01 2016-12-31 04216666 bus:FRS102 2016-01-01 2016-12-31 04216666 bus:FullAccounts 2016-01-01 2016-12-31 04216666 2016-12-31 04216666 core:WithinOneYear 2016-12-31 04216666 core:AfterOneYear 2016-12-31 04216666 core:ShareCapital 2016-12-31 04216666 core:RetainedEarningsAccumulatedLosses 2016-12-31 04216666 core:Goodwill 2016-12-31 04216666 core:PlantMachinery 2016-12-31 04216666 bus:Director1 1 2016-12-31 04216666 2015-12-31 04216666 core:Goodwill 2015-12-31 04216666 core:PlantMachinery 2015-12-31 04216666 bus:Director1 1 2015-12-31 iso4217:GBP xbrli:pure