Af Corse Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07304893 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

FOR

AF CORSE LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs S L Ferdinands

Mr A J Ferdinands

REGISTERED OFFICE:

39 The Metro Centre

Tolpits Lane

Watford

Hertfordshire

WD18 9SB

REGISTERED NUMBER:

07304893 (England and Wales)

ACCOUNTANTS:

Meades & Company Limited

39 The Metro Centre

Tolpits Lane

Watford

Hertfordshire

WD18 9SB

CURRENT ASSETS

Stocks

36,889

31,500

Debtors

7,894

7,894

Cash at bank and in hand

2,918

5,959

47,701

45,353

CREDITORS

Amounts falling due within one year

63,632

56,448

NET CURRENT LIABILITIES

(15,931

)

(11,095

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(15,931

)

(11,095

)

CAPITAL AND RESERVES

Called up share capital

2

2

2

Profit and loss account

(15,933

)

(11,097

)

SHAREHOLDERS' FUNDS

(15,931

)

(11,095

)

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 directors acknowledge their 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 Board of Directors on 28 May 2015 and were signed on its behalf by:

Mr A J Ferdinands - Director

1.	ACCOUNTING POLICIES

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 the value, net of value added tax and discounts of sale of second hand cars

and commission from car sales.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Going concern

As at the balance sheet date, the company had net current liabilities of £15,931 (2013: £11,095).

The directors of the company are confident that all payments and liabilities will be met as and when

they arise. The directors are of the opinion that the financial statements should be drawn up on a

going concern basis.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Oridinary

£1

2

2