L & S Motors (St Helens) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01291034 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

L & S MOTORS (ST HELENS) LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

480,674

480,808

CURRENT ASSETS

Stocks

140,705

139,904

Debtors

3,408

7,364

Cash at bank and in hand

839,058

839,227

983,171

986,495

CREDITORS

Amounts falling due within one year

25,246

24,497

NET CURRENT ASSETS

957,925

961,998

TOTAL ASSETS LESS CURRENT LIABILITIES

1,438,599

1,442,806

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

1,438,499

1,442,706

SHAREHOLDERS' FUNDS

1,438,599

1,442,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 22 April 2014 and were signed on its behalf by:

Mr D T Lucas - 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

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.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

523,071

Additions

1,200

At 31 December 2013

524,271

DEPRECIATION

At 1 January 2013

42,263

Charge for year

1,334

At 31 December 2013

43,597

NET BOOK VALUE

At 31 December 2013

480,674

At 31 December 2012

480,808

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

£

100

Ordinary

£1

100

100

4.	CONTROLLING PARTY

Mr D.T. Lucas, a director, and close members of his family control the company as a result of controlling 100%

of the Ordinary share capital.