STR8 Six Limited - Period Ending 2013-12-31

Registration number: 05671216

STR8 Six Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

STR8 Six Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

STR8 Six Limited
(Registration number: 05671216)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					10,893			9,133
Current assets
Stocks					215,000			270,990
Debtors					25,719			46,051
Cash at bank and in hand					203,684			135,568
					444,403			452,609
Creditors: Amounts falling due within one year					(91,802)			(117,126)
Net current assets					352,601			335,483
Total assets less current liabilities					363,494			344,616
Provisions for liabilities					(2,179)			(1,826)
Net assets					361,315			342,790
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					360,315			341,790
Shareholders' funds					361,315			342,790

For the year ending 31 December 2013 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 director acknowledges his 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 director on 16 September 2014

.........................................
J Clegg
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

STR8 Six Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 the total invoice value, excluding value added tax, of sales made during the year in relation to the servicing and repair of cars, and used car sales.

Depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over
its expected useful life, as follows:

Asset class	Depreciation method and rate
Leasehold property	Straight line over the life of the lease
Fixtures, fittings and equipment	33% straight line
Motor vehicles	25% straight line

Stock

Stock is valued at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.

Hire purchase and leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Page 2

STR8 Six Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		25,052			25,052
Additions		6,725			6,725
At 31 December 2013		31,777			31,777
Depreciation
At 1 January 2013		15,919			15,919
Charge for the year		4,965			4,965
At 31 December 2013		20,884			20,884
Net book value
At 31 December 2013		10,893			10,893
At 31 December 2012		9,133			9,133

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

4

Control

The company is controlled by J Clegg who owns 100% of the called up share capital.

Page 3