68 Auto Performance Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07762800 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 December 2013

for

68 Auto Performance Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

E J Gray

REGISTERED OFFICE:

33 Short Walk

Butley

Woodbridge

Suffolk

IP12 3NU

REGISTERED NUMBER:

07762800 (England and Wales)

ACCOUNTANTS:

Pinfold & Co

Chartered Accountants

8 Deben Mill Business Centre

Old Maltings Approach

Woodbridge

Suffolk

IP12 1BL

FIXED ASSETS

Tangible assets

2

12,545

1,875

CURRENT ASSETS

Stocks

1,950

3,300

Debtors

1,009

760

Cash at bank

337

229

3,296

4,289

CREDITORS

Amounts falling due within one year

32,588

22,379

NET CURRENT LIABILITIES

(29,292

)

(18,090

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,747

)

(16,215

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(16,748

)

(16,216

)

SHAREHOLDERS' FUNDS

(16,747

)

(16,215

)

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 director acknowledges her 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 11 September 2014 and were signed by:

E J Gray - 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

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

At 1 January 2013

2,500

Additions

14,852

At 31 December 2013

17,352

DEPRECIATION

At 1 January 2013

625

Charge for year

4,182

At 31 December 2013

4,807

NET BOOK VALUE

At 31 December 2013

12,545

At 31 December 2012

1,875

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

£

1

Ordinary

£1

1

1