Elite Cars ( Wales ) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08608414 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 12 JULY 2013 TO 31 JULY 2014

FOR

ELITE CARS ( WALES ) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S Jenkins

G Jenkins

SECRETARY:

REGISTERED OFFICE:

374 Cowbridge Road East

Cardiff

South Glamorgan

CF5 1JJ

REGISTERED NUMBER:

08608414 (England and Wales)

ACCOUNTANTS:

COOPER HEALEY COATES ACCOUNTANTS

374 Cowbridge Road East

Cardiff

South Glamorgan

CF5 1JJ

FIXED ASSETS

Tangible assets

2

12,408

CURRENT ASSETS

Stocks

98,000

Cash at bank

6,173

104,173

CREDITORS

Amounts falling due within one year

104,454

NET CURRENT LIABILITIES

(281

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,127

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

12,027

SHAREHOLDERS' FUNDS

12,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the period 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 19 August 2015 and were signed on its behalf by:

S Jenkins - 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.

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

15% on cost

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

14,745

At 31 July 2014

14,745

DEPRECIATION

Charge for period

2,337

At 31 July 2014

2,337

NET BOOK VALUE

At 31 July 2014

12,408

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

60

A ordinary

£1

60

40

B ordinary

£1

40

100

The following shares were issued during the period for cash at par :

60 A ordinary shares of £1

40 B ordinary shares of £1