A & G Auto Repairs Limited - Period Ending 2016-05-31

A & G Auto Repairs Limited

Unaudited Abbreviated Accounts

for the Period from 1 April 2015 to 31 May 2016

A & G Auto Repairs Limited
Contents

Page

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 5

A & G Auto Repairs Limited
balance sheet as at 31 May 2016

	Note	31 May 2016 £	31 March 2015 £
Fixed assets
Tangible fixed assets		-	4,024
Current assets
Stocks		-	1,840
Debtors		11,566	47,604
Cash at bank and in hand		65,569	4,860
		77,135	54,304
Creditors: Amounts falling due within one year		(39,005)	(45,500)
Net current assets		38,130	8,804
Total assets less current liabilities		38,130	12,828
Provisions for liabilities		-	(805)
Total net assets		38,130	12,023
Capital and reserves
Called up share capital	3	4	2
Profit and loss account		38,126	12,021
Shareholders' funds		38,130	12,023

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

A & G Auto Repairs Limited
balance sheet as at 31 May 2016
......... continued

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 28 February 2017 and signed on its behalf by:

Mr D Aicken
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

A & G Auto Repairs Limited
Notes to the Abbreviated Accounts for the Period from 1 April 2015 to 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write of the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and Machinery	15% on reducing balance
Fixtures and Fittings	15% on reducing balance
Motor Vehicles	15% on reducing balance
Office Equipment	25% at cost

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

A & G Auto Repairs Limited
Notes to the Abbreviated Accounts for the Period from 1 April 2015 to 31 May 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 April 2015	25,980	25,980
Additions	1,300	1,300
Disposals	(27,280)	(27,280)
At 31 May 2016	-	-
Depreciation
At 1 April 2015	21,956	21,956
Eliminated on disposals	(21,956)	(21,956)
At 31 May 2016	-	-
Net book value
At 31 May 2016	-	-
At 31 March 2015	4,024	4,024

3

Share capital

Allotted, called up and fully paid shares

	31 May 2016			31 March 2015
		No.	£		No.	£
Ordinary of £1 each		4	4		2	2

New shares allotted

During the period 2 ordinary shares having an aggregate nominal value of £2 were allotted for an aggregate consideration of £2. Additional shares were issued in the year.

Page 4

A & G Auto Repairs Limited
Notes to the Abbreviated Accounts for the Period from 1 April 2015 to 31 May 2016
......... continued

4	Related party transactions

Directors' advances and credits

	1 April 2015 to 31 May 2016 Advance/ Credit £	1 April 2015 to 31 May 2016 Repaid £	Year ended 31 March 2015 Advance/ Credit £	Year ended 31 March 2015 Repaid £
Mr D Aicken
	-	26,137	26,137	-

During the period the company paid rent of £8,667 to the A & G Pension Scheme. A Self Administered Pension Scheme run by the company A & G Auto Repairs Limited.

Control

The company is controlled by the directors.

Page 5