Rejel Automotive Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03051813

Abbreviated Accounts for the Year Ended 31 July 2014

for

Rejel Automotive Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J Reeds

SECRETARY:

P Spencer

REGISTERED OFFICE:

Rejel House

Murdock Road

Bedford

Bedfordshire

MK41 7PE

REGISTERED NUMBER:

03051813

ACCOUNTANTS:

Thompsons Accountants and Advisors Ltd

Chartered Accountants

Grove House

1 Grove Place

Bedford

Bedfordshire

MK40 3JJ

FIXED ASSETS

Intangible assets

2

18,209

26,909

Tangible assets

3

14,075

17,423

32,284

44,332

CURRENT ASSETS

Stocks

235,479

224,969

Debtors

69,577

106,365

Cash at bank

849

14,090

305,905

345,424

CREDITORS

Amounts falling due within one year

4

248,457

314,394

NET CURRENT ASSETS

57,448

31,030

TOTAL ASSETS LESS CURRENT LIABILITIES

89,732

75,362

CREDITORS

Amounts falling due after more than one year

4

40,000

40,000

NET ASSETS

49,732

35,362

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

49,632

35,262

SHAREHOLDERS' FUNDS

49,732

35,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26 March 2015 and were signed by:

J Reeds - Director

1.	ACCOUNTING POLICIES

Basis of preparing financial statements

The accounts have been prepared on a going concern basis. The director and a significant shareholder who are creditors at the

Balance Sheet date totalling £176,609 have undertaken to continue to support the company.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its

estimated useful life of fifteen years. A further acquisition of goodwill was made in 2004 and is being written of over its

estimated useful life of ten years.

Tangible fixed assets

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

Short leasehold

-

in accordance with the property

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

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.

Deferred tax

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

113,000

AMORTISATION

At 1 August 2013

86,091

Amortisation for year

8,700

At 31 July 2014

94,791

NET BOOK VALUE

At 31 July 2014

18,209

At 31 July 2013

26,909

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

86,424

DEPRECIATION

At 1 August 2013

69,001

Charge for year

3,348

At 31 July 2014

72,349

NET BOOK VALUE

At 31 July 2014

14,075

At 31 July 2013

17,423

4.

CREDITORS

Creditors include an amount of £ 42,273 (31.7.13 - £ 75,213 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

100

Ordinary

£1

100

100