M L Autos Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04608488 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

M L Autos Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M Mcgivney

SECRETARY:

Mrs H Mcgivney

REGISTERED OFFICE:

57 Oak Grove

Cricklewood

London

NW2 3LS

REGISTERED NUMBER:

04608488 (England and Wales)

ACCOUNTANTS:

J C Associates

Chartered Certified Accountants

27 Dawpool Road

London

NW2 7LD

FIXED ASSETS

Tangible assets

2

8,645

3,246

CURRENT ASSETS

Stocks

2,400

2,600

Debtors

1,917

682

Cash at bank

113,868

103,013

118,185

106,295

CREDITORS

Amounts falling due within one year

66,448

49,032

NET CURRENT ASSETS

51,737

57,263

TOTAL ASSETS LESS CURRENT LIABILITIES

60,382

60,509

CAPITAL AND RESERVES

Called up share capital

3

50

50

Profit and loss account

60,332

60,459

SHAREHOLDERS' FUNDS

60,382

60,509

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 29 September 2015 and were signed by:

M Mcgivney - 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

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

12,695

Additions

11,193

At 31 December 2014

23,888

DEPRECIATION

At 1 January 2014

9,449

Charge for year

5,794

At 31 December 2014

15,243

NET BOOK VALUE

At 31 December 2014

8,645

At 31 December 2013

3,246

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

50

Ordinary

1

50

50