Rather Special Vehicle Purchases Limited - Period Ending 2014-12-31

Registration number: 04603335

Rather Special Vehicle Purchases Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Paul Austen Associates
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

Rather Special Vehicle Purchases Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Rather Special Vehicle Purchases Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rather Special Vehicle Purchases Limited for the year ended 31 December 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Rather Special Vehicle Purchases Limited, as a body, in accordance with the terms of our engagement letterdated 29 July 2010. Our work has been undertaken solely to prepare for your approval the accounts of Rather Special Vehicle Purchases Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rather Special Vehicle Purchases Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rather Special Vehicle Purchases Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rather Special Vehicle Purchases Limited. You consider that Rather Special Vehicle Purchases Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Rather Special Vehicle Purchases Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Paul Austen Associates
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

27 April 2015

Page 1

Rather Special Vehicle Purchases Limited
(Registration number: 04603335)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					644			859
Current assets
Stocks					-			3,500
Debtors					585,098			366,702
Cash at bank and in hand					155,300			375,975
					740,398			746,177
Creditors: Amounts falling due within one year					(741,114)			(625,196)
Net current (liabilities)/assets					(716)			120,981
Total assets less current liabilities					(72)			121,840
Creditors: Amounts falling due after more than one year					-			(122,800)
Net liabilities					(72)			(960)
Capital and reserves
Called up share capital		4			10,000			10,000
Profit and loss account					(10,072)			(10,960)
Shareholders' deficit					(72)			(960)

For the year ending 31 December 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 director acknowledges his 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 director on 27 April 2015

.........................................
Mr Ronald Stratton
Director

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

Rather Special Vehicle Purchases Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... 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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. It should be noted that the Comany in its present operating form did not start trading until 1st July 2010. The turnover for this year of account therefore only represents 5 months full trading.

Depreciation

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

Asset class	Depreciation method and rate
Plant and machinery	25-30% Reducing Balance

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Rather Special Vehicle Purchases Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		5,834			5,834
At 31 December 2014		5,834			5,834
Depreciation
At 1 January 2014		4,975			4,975
Charge for the year		215			215
At 31 December 2014		5,190			5,190
Net book value
At 31 December 2014		644			644
At 31 December 2013		859			859

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

2014 £

2013 £

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years not by instalments		-			122,800

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		10,000			10,000			10,000			10,000

Page 4

Rather Special Vehicle Purchases Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

5	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr Ronald Stratton
Amount owed to director	542,582	-	546,272	-

Page 5