Sell The Car Limited,Ltd - Accounts

SELL THE CAR LTD - Company Information

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Sell The Car Limited

For the year ended 30 June 2015

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 07153181

Contents Page

Sell The Car Limited

For the year ended 30 June 2015

Accountants' Report

Balance Sheet

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Notes to the Abbreviated Financial Statements

Accountants' Report

For the year ended 30 June 2015

Sell The Car Limited

As described on the balance sheet you are responsible for the preparation of the financial statements for the year

ended 30 June 2015 and you consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you

to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

S G Accountants Limited

150A Preston Old Road

Blackpool

Lancashire

FY3 9QP

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Abbreviated Balance Sheet

Sell The Car Limited

As at 30 June 2015

07153181

Registered Number :

2015

Notes

2014

Fixed assets

Intangible assets

27,023

Tangible assets

7,308

6,265

34,331

33,288

Current assets

Stocks

54,396

Debtors

14,755

12,930

Cash at bank and in hand

21,544

500

88,870

69,651

Creditors: amounts falling due within one year

(119,759)

(91,197)

(50,108)

(2,327)

Net current liabilities

Total assets less current liabilities

32,004

(16,820)

32,004

Net assets/liabilities

(16,820)

Capital and reserves

Called up share capital

100

Profit and loss account

31,904

(16,920)

32,004

(16,820)

Shareholders funds

For the year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

2) 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.

Date approved by the board: 13 August 2015

Mr J Crewe Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

For the year ended 30 June 2015

Sell The Car Limited

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going Concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Computer software development costs

Development costs of computer software are capitalised once a detailed program design has been established and

are amortised on a straight line basis over 10 years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

25% Reducing balance

Fixtures and Fittings

20% Reducing balance

Stocks

Stocks 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 costs and an appropriate proportion of fixed and variable overheads.

2 Intangible fixed assets

Cost or valuation

Intangible

fixed assets

At 01 July 2014

27,023

At 30 June 2015

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Notes to the Abbreviated Financial Statements

For the year ended 30 June 2015

Sell The Car Limited

3 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

7,291

At 01 July 2014

1,043

Additions

At 30 June 2015

8,334

Depreciation

1,026

At 01 July 2014

1,026

At 30 June 2015

Net book values

At 30 June 2015

7,308

6,265

At 30 June 2014

4 Share capital

Authorised

1,000 Class A shares of £1.00 each

Allotted called up and fully paid

2015

2014

100 Class A shares of £1.00 each

100

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