Express Motor Components Limited - Accounts to registrar (filleted) - small 18.2

Express Motor Components Limited - Accounts to registrar (filleted) - small 18.2

EXPRESS MOTOR COMPONENTS LIMITED - Company Information

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REGISTERED NUMBER: 04523010 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

EXPRESS MOTOR COMPONENTS LIMITED
EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019




Page

Balance sheet 1

Notes to the financial statements 3


EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

BALANCE SHEET
31 DECEMBER 2019

2019 2018
Notes £    £   
FIXED ASSETS
Tangible assets 4 21,618 28,681

CURRENT ASSETS
Stocks 11,116 9,889
Debtors 5 37,823 37,695
Cash at bank and in hand 50,974 47,084
99,913 94,668
CREDITORS
Amounts falling due within one year 6 (41,657 ) (32,866 )
NET CURRENT ASSETS 58,256 61,802
TOTAL ASSETS LESS CURRENT
LIABILITIES
79,874
90,483

CREDITORS
Amounts falling due after more than one
year
7
(3,691
)
(8,400
)
NET ASSETS 76,183 82,083

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 76,181 82,081
SHAREHOLDERS' FUNDS 76,183 82,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 notes form part of these financial statements

Page 1
EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

BALANCE SHEET - continued
31 DECEMBER 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director on 20 June 2020 and were signed by:





G Harper - Director


The notes form part of these financial statements

Page 2
EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1. STATUTORY INFORMATION

Express Motor Components Limited is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address are as below:

Registered number: 04523010

Registered office: 22 Ryeburn Drive
Bromley Cross
Bolton
Lancashire
BL2 3FP

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% 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.

Leased assets
Assets held under finance lease and hire purchase contracts are capitalised and depreciated over their useful
lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The
interest element of rental obligations is charged to profit and loss account over the period of the lease at a
constant proportion of the outstanding balance of capital repayments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

Page 3
EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2019
and 31 December 2019 6,739 30,115 36,854
DEPRECIATION
At 1 January 2019 5,663 2,510 8,173
Charge for year 162 6,901 7,063
At 31 December 2019 5,825 9,411 15,236
NET BOOK VALUE
At 31 December 2019 914 20,704 21,618
At 31 December 2018 1,076 27,605 28,681

The net book value of motor vehicles comprises assets held under finance leases. The amount of depreciation in
respect of such assets amounted to £6,901 (2018 £2,510) for the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 37,823 37,695

All amounts show under debtors fall due for payment within one year.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Hire purchase contracts 4,708 4,708
Trade creditors 12,588 13,656
Taxation and social security 13,482 9,498
Other creditors 10,879 5,004
41,657 32,866

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Hire purchase contracts 3,691 8,400

8. SECURED DEBTS

The following secured debts are included within creditors:

2019 2018
£    £   
Hire purchase contracts 8,399 13,108

Page 4
EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

9. RELATED PARTY DISCLOSURES

Controlling party
G Harper, together with members of his close family, controls the company by virtue of a controlling interest of
100% of the issued ordinary capital.

Page 5