Aboyne Van Hire Limited 06232777 false 2016-06-01 2017-05-31 2017-05-31 The principal activity of the company is Renting of automobiles Digita Accounts Production Advanced 6.20.8420.0 Software true 06232777 2016-06-01 2017-05-31 06232777 2017-05-31 06232777 bus:OrdinaryShareClass1 2017-05-31 06232777 core:RetainedEarningsAccumulatedLosses 2017-05-31 06232777 core:ShareCapital 2017-05-31 06232777 core:CurrentFinancialInstruments 2017-05-31 06232777 core:CurrentFinancialInstruments core:WithinOneYear 2017-05-31 06232777 core:MotorVehicles 2017-05-31 06232777 bus:SmallEntities 2016-06-01 2017-05-31 06232777 bus:AuditExemptWithAccountantsReport 2016-06-01 2017-05-31 06232777 bus:FullAccounts 2016-06-01 2017-05-31 06232777 bus:RegisteredOffice 2016-06-01 2017-05-31 06232777 bus:CompanySecretary1 2016-06-01 2017-05-31 06232777 bus:Director1 2016-06-01 2017-05-31 06232777 bus:OrdinaryShareClass1 2016-06-01 2017-05-31 06232777 bus:PrivateLimitedCompanyLtd 2016-06-01 2017-05-31 06232777 core:MotorCars 2016-06-01 2017-05-31 06232777 core:MotorVehicles 2016-06-01 2017-05-31 06232777 countries:England 2016-06-01 2017-05-31 06232777 2016-05-31 06232777 core:MotorVehicles 2016-05-31 06232777 2016-05-31 06232777 bus:OrdinaryShareClass1 2016-05-31 06232777 core:RetainedEarningsAccumulatedLosses 2016-05-31 06232777 core:ShareCapital 2016-05-31 06232777 core:CurrentFinancialInstruments 2016-05-31 06232777 core:CurrentFinancialInstruments core:WithinOneYear 2016-05-31 06232777 core:MotorVehicles 2016-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06232777

Aboyne Van Hire Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2017

Oakleys Professional Limited
14 St Owen Street
Hereford
Hereford
HR1 2PL

 

Aboyne Van Hire Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Aboyne Van Hire Limited

Company Information

Director

Mr The Late Mr Peter Beckett

Company secretary

Miss Elizabeth Beckett

Registered office

14 St Owen Street
Hereford
HR1 2PL

Accountants

Oakleys Professional Limited
14 St Owen Street
Hereford
Hereford
HR1 2PL

 

Aboyne Van Hire Limited

(Registration number: 06232777)
Balance Sheet as at 31 May 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

3

1,065

1,420

Current assets

 

Debtors

4

1

1

Cash at bank and in hand

 

36

36

 

37

37

Creditors: Amounts falling due within one year

5

(9,819)

(9,614)

Net current liabilities

 

(9,782)

(9,577)

Net liabilities

 

(8,717)

(8,157)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(8,718)

(8,158)

Total equity

 

(8,717)

(8,157)

For the financial year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 27 February 2018
 

.........................................

Mr The Late Mr Peter Beckett

Director

 

Aboyne Van Hire Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
14 St Owen Street
Hereford
HR1 2PL

The principal place of business is:
6 Jubilee Court
Aboyne
Aberdeenshire
AB34 5GS

These financial statements were authorised for issue by the director on 27 February 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Aboyne Van Hire Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Aboyne Van Hire Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

3

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2016

14,184

14,184

At 31 May 2017

14,184

14,184

Depreciation

At 1 June 2016

12,764

12,764

Charge for the year

355

355

At 31 May 2017

13,119

13,119

Carrying amount

At 31 May 2017

1,065

1,065

At 31 May 2016

1,420

1,420

4

Debtors

2017
£

2016
£

Other debtors

1

1

1

1

5

Creditors

Creditors: amounts falling due within one year

2017
£

2016
£

Due within one year

Trade creditors

536

331

Other creditors

9,283

9,283

9,819

9,614

6

Share capital

Allotted, called up and fully paid shares

 

2017

2016

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         
 

Aboyne Van Hire Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

7

Transition to FRS 102

This is the first year the company has presented its results under FRS 102. The last financial statements under previous UK GAAP were to the year ended 31 May 2016 and the date of transition to FRS 102 was 1 June 2016. The changes in accounting policies brought through the transition from UK GAAP as previously reported to FRS 102 have no effect on the profit for the year to 31 May 2016 or total equity as at 1 June 2015 and 31 May 2016.

Balance Sheet at 1 June 2015
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

1,894

-

-

1,894

Current assets

Debtors

1

-

-

1

Cash at bank and in hand

36

-

-

36

37

-

-

37

Creditors: Amounts falling due within one year

(9,409)

-

-

(9,409)

Net current liabilities

(9,372)

-

-

(9,372)

Net liabilities

(7,478)

-

-

(7,478)

Capital and reserves

Called up share capital

(1)

-

-

(1)

Profit and loss account

7,479

-

-

7,479

Total equity

7,478

-

-

7,478

 

Aboyne Van Hire Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

Balance Sheet at 31 May 2016
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

1,420

-

-

1,420

Current assets

Debtors

1

-

-

1

Cash at bank and in hand

36

-

-

36

37

-

-

37

Creditors: Amounts falling due within one year

(9,614)

-

-

(9,614)

Net current liabilities

(9,577)

-

-

(9,577)

Net liabilities

(8,157)

-

-

(8,157)

Capital and reserves

Called up share capital

(1)

-

-

(1)

Profit and loss account

8,158

-

-

8,158

Total equity

8,157

-

-

8,157