Michael Caine Motorsport Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06037379 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

Michael Caine Motorsport Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Caine

SECRETARY:

REGISTERED OFFICE:

The Barn, Duck End

Offord Road

Graveley

St Neots

Cambridgeshire

PE19 6PP

REGISTERED NUMBER:

06037379 (England and Wales)

ACCOUNTANTS:

John Wheeler Accountancy Ltd

The Barn

Duck End

Offord Road, Graveley

St Neots

Cambridgeshire

PE19 6PP

FIXED ASSETS

Tangible assets

2

179,669

168,864

CURRENT ASSETS

Stocks

305,629

122,455

Debtors

138,560

97,886

Cash at bank and in hand

182,294

79,196

626,483

299,537

CREDITORS

Amounts falling due within one year

491,938

206,367

NET CURRENT ASSETS

134,545

93,170

TOTAL ASSETS LESS CURRENT LIABILITIES

314,214

262,034

CREDITORS

Amounts falling due after more than one year

9,104

9,104

NET ASSETS

305,110

252,930

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

305,108

252,928

SHAREHOLDERS' FUNDS

305,110

252,930

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 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 director on 21 September 2015 and were signed by:

M Caine - 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

-

20% 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.

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 2014

266,147

Additions

40,400

At 31 December 2014

306,547

DEPRECIATION

At 1 January 2014

97,283

Charge for year

29,595

At 31 December 2014

126,878

NET BOOK VALUE

At 31 December 2014

179,669

At 31 December 2013

168,864

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

2

Ordinary

£1

2

2