ABERGAVENNY_BRAKE_&_CLUTC

ABERGAVENNY BRAKE & CLUTCH LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

58,500

75,000

Tangible assets

426,640

393,452

485,140

468,452

Current assets

Stocks

576,863

547,924

Debtors

767,728

705,082

Cash at bank and in hand

324,370

263,266

1,668,961

1,516,272

Creditors: amounts falling due within one year

(1,479,942)

(1,295,516)

Net current assets

189,019

220,756

Total assets less current liabilities

674,159

689,208

Creditors: amounts falling due after more than one year

(26,840)

(37,447)

Provisions for liabilities

(25,328)

(26,690)

621,991

625,071

Capital and reserves

Called up share capital

100

Revaluation reserve

105,024

65,024

Profit and loss account

516,867

559,947

Shareholders' funds

621,991

625,071

ABERGAVENNY BRAKE & CLUTCH LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2016

- 2 -

For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 10 May 2017

Mr David Melmoth

Mr Andrew Melmoth

Director

Company Registration No. 05966107

ABERGAVENNY BRAKE & CLUTCH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Plant and machinery

- 15% on the reducing balance

Fixtures, fittings & equipment

- 15% on the reducing balance

Motor vehicles

- 25% on the reducing balance

ABERGAVENNY BRAKE & CLUTCH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost or valuation

At 1 November 2015

163,710

656,648

820,358

Additions

1,290

77,080

78,370

Disposals

(26,898)

At 31 October 2016

165,000

706,830

871,830

Depreciation

At 1 November 2015

90,000

263,196

353,196

On disposals

(20,585)

Charge for the year

16,500

37,579

54,079

At 31 October 2016

106,500

280,190

386,690

Net book value

At 31 October 2016

58,500

426,640

485,140

At 31 October 2015

75,000

393,452

468,452

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100