Abbreviated Company Accounts - OWEN AUTOMOTIVE LIMITED

OWEN AUTOMOTIVE LIMITED - Company Information

06512879 OWEN AUTOMOTIVE LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 06512879 2013-08-01 2014-07-31 06512879 2014-07-31 06512879 2013-07-31 06512879 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 06512879 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 iso4217:GBP shares

Registered Number 06512879

OWEN AUTOMOTIVE LIMITED

Abbreviated Accounts

31 July 2014

OWEN AUTOMOTIVE LIMITED Registered Number 06512879

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	58,361	61,338
		58,361	61,338
Current assets
Stocks		2,600	2,500
Debtors		1,366	881
		3,966	3,381
Creditors: amounts falling due within one year		(53,130)	(54,031)
Net current assets (liabilities)		(49,164)	(50,650)
Total assets less current liabilities		9,197	10,688
Creditors: amounts falling due after more than one year		(1,363)	(6,590)
Total net assets (liabilities)		7,834	4,098
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		7,734	3,998
Shareholders' funds		7,834	4,098

For the year ending 31 July 2014 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 20 April 2015

And signed on their behalf by:
J B Owen, Director

OWEN AUTOMOTIVE LIMITED Registered Number 06512879

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

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

Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Valuation information and policy
Stocks

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

Other accounting policies
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.

2Tangible fixed assets

	£
Cost
At 1 August 2013	97,299
Additions	4,769
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	102,068
Depreciation
At 1 August 2013	35,961
Charge for the year	7,746
On disposals	-
At 31 July 2014	43,707
Net book values
At 31 July 2014	58,361
At 31 July 2013	61,338

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100