Rejel Automotive Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 03051813

Abbreviated Accounts for the Year Ended 31 July 2015

for

Rejel Automotive Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J Reeds

SECRETARY:

P Spencer

REGISTERED OFFICE:

Rejel House

Murdock Road

Bedford

Bedfordshire

MK41 7PE

REGISTERED NUMBER:

03051813

ACCOUNTANTS:

Thompsons Accountants and Advisors Ltd

Chartered Accountants

Grove House

1 Grove Place

Bedford

Bedfordshire

MK40 3JJ

FIXED ASSETS

Intangible assets

2

13,009

18,209

Tangible assets

3

11,708

14,075

24,717

32,284

CURRENT ASSETS

Stocks

224,567

235,479

Debtors

91,307

69,577

Cash at bank

4,005

849

319,879

305,905

CREDITORS

Amounts falling due within one year

4

227,616

248,457

NET CURRENT ASSETS

92,263

57,448

TOTAL ASSETS LESS CURRENT LIABILITIES

116,980

89,732

CREDITORS

Amounts falling due after more than one year

4

20,000

40,000

NET ASSETS

96,980

49,732

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

96,880

49,632

SHAREHOLDERS' FUNDS

96,980

49,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 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 1 December 2015 and were signed by:

J Reeds - Director

1.	ACCOUNTING POLICIES

Basis of preparing financial statements

The accounts have been prepared on a going concern basis. The director and a significant shareholder who are

creditors at the Balance Sheet date totalling £176,609 have undertaken to continue to support the company.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised

evenly over its estimated useful life of fifteen years. A further acquisition of goodwill was made in 2004 and is

being written of over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

in accordance with the property

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

113,000

AMORTISATION

At 1 August 2014

94,791

Amortisation for year

5,200

At 31 July 2015

99,991

NET BOOK VALUE

At 31 July 2015

13,009

At 31 July 2014

18,209

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

86,424

Additions

663

At 31 July 2015

87,087

DEPRECIATION

At 1 August 2014

72,349

Charge for year

3,030

At 31 July 2015

75,379

NET BOOK VALUE

At 31 July 2015

11,708

At 31 July 2014

14,075

4.

CREDITORS

Creditors include an amount of £ 56,632 (31.7.14 - £ 42,273 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

£

100

Ordinary

£1

100

100