Abbreviated Company Accounts - MARE STREET CARS LTD

MARE STREET CARS LTD - Company Information

Registered Number 08465537

MARE STREET CARS LTD

Abbreviated Accounts

31 March 2015

MARE STREET CARS LTD Registered Number 08465537

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	4,860	5,400
		4,860	5,400
Current assets
Cash at bank and in hand		2,191	3,307
		2,191	3,307
Creditors: amounts falling due within one year		(605)	(3,313)
Net current assets (liabilities)		1,586	(6)
Total assets less current liabilities		6,446	5,394
Total net assets (liabilities)		6,446	5,394
Capital and reserves
Called up share capital		1	1
Profit and loss account		6,445	5,393
Shareholders' funds		6,446	5,394

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 November 2015

And signed on their behalf by:
IFTIKHAR HUSSAIN, Director

MARE STREET CARS LTD Registered Number 08465537

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixture & Fittings Reducing balance method 10%

2Tangible fixed assets

	£
Cost
At 1 April 2014	6,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	6,000
Depreciation
At 1 April 2014	600
Charge for the year	540
On disposals	-
At 31 March 2015	1,140
Net book values
At 31 March 2015	4,860
At 31 March 2014	5,400