REGISTERED NUMBER: 04593958 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

A & M GARAGES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Taylor

C Taylor

D Evans

SECRETARY:

REGISTERED OFFICE:

Unit 1 Ema Evans Business Centre

Alloy Industrial Estate

Pontardawe

Swansea

SA8 4EN

REGISTERED NUMBER:

04593958 (England and Wales)

ACCOUNTANTS:

Fergusons & Peters

Min Yr Afon

4 High Street

Pontardawe

Swansea

SA8 4HU

FIXED ASSETS

Tangible assets

4

22,533

29,001

CURRENT ASSETS

Stocks

7,650

7,350

Debtors

5

4,264

7,183

Cash at bank and in hand

8,786

3,587

20,700

18,120

CREDITORS

Amounts falling due within one year

6

25,442

11,602

NET CURRENT (LIABILITIES)/ASSETS

(4,742

)

6,518

TOTAL ASSETS LESS CURRENT LIABILITIES

17,791

35,519

CREDITORS

Amounts falling due after more than one year

7

(22,785

)

(27,704

)

ACCRUALS AND DEFERRED INCOME

(6,000

)

(6,000

)

NET (LIABILITIES)/ASSETS

(10,994

)

1,815

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(10,996

)

1,813

SHAREHOLDERS' FUNDS

(10,994

)

1,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 March 2019 and were signed on its behalf by:

D Evans - Director

1.	STATUTORY INFORMATION

A & M Garages Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2017

57,210

Additions

1,042

At 30 June 2018

58,252

DEPRECIATION

At 1 July 2017

28,209

Charge for year

7,510

At 30 June 2018

35,719

NET BOOK VALUE

At 30 June 2018

22,533

At 30 June 2017

29,001

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

4,264

4,750

Other debtors

-

2,433

4,264

7,183

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Hire purchase contracts

4,919

4,919

Trade creditors

7,984

3,712

Taxation and social security

5,094

226

Other creditors

7,445

2,745

25,442

11,602

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.18

30.6.17

£

£

Hire purchase contracts

22,785

27,704