ELITE MOTOR SALES LTD - Limited company - abbreviated - 11.9

ELITE MOTOR SALES LTD - Limited company - abbreviated - 11.9

ELITE MOTOR SALES LIMITED - Company Information

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05457608 1.6.14 31.5.15 31.5.15 Company accounts Private Limited Company FY true false true false false true false Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure054576082014-05-31054576082015-05-31054576082014-06-012015-05-31054576082013-05-31054576082013-06-012014-05-31054576082014-05-3105457608ns14:PoundSterling2014-06-012015-05-3105457608ns7:Director12014-06-012015-05-3105457608ns7:OrdinaryShareClass12014-06-012015-05-3105457608ns7:CompanySecretary2014-06-012015-05-3105457608ns7:RegisteredOffice2014-06-012015-05-3105457608ns7:EntityAccountantsOrAuditors2014-06-012015-05-3105457608ns7:OrdinaryShareClass12015-05-3105457608ns7:OrdinaryShareClass12014-05-31
REGISTERED NUMBER: 05457608















ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2015

FOR

ELITE MOTOR SALES LTD

ELITE MOTOR SALES LTD (REGISTERED NUMBER: 05457608)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

ELITE MOTOR SALES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2015







DIRECTOR: N ADRIS





SECRETARY:





REGISTERED OFFICE: 50 HOLY ROAD
OLDBURY
West Midlands
B68 0AS





REGISTERED NUMBER: 05457608





ACCOUNTANTS: SHABIR NAWAB & CO
11 PORTLAND ROAD
EDGBASTON
BIRMINGHAM
West Midlands
B16 9HN
Page 1
ELITE MOTOR SALES LTD (REGISTERED NUMBER: 05457608)

ABBREVIATED BALANCE SHEET
31 MAY 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 8,270 9,435

CURRENT ASSETS
Stocks 175,068 159,325
Debtors 9,374 23,440
Cash at bank and in hand 49,265 1,366
233,707 184,131
CREDITORS
Amounts falling due within one year 188,168 138,851
NET CURRENT ASSETS 45,539 45,280
TOTAL ASSETS LESS CURRENT
LIABILITIES
53,809
54,715

CREDITORS
Amounts falling due after more than one
year
11,500
11,500
NET ASSETS 42,309 43,215

CAPITAL AND RESERVES
Called up share capital 3 100 1
Profit and loss account 42,209 43,214
SHAREHOLDERS' FUNDS 42,309 43,215

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 29 February 2016 and were signed by:



N ADRIS - Director


The notes form part of these abbreviated accounts

Page 2
ELITE MOTOR SALES LTD (REGISTERED NUMBER: 05457608)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015

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.


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.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2014
and 31 May 2015 11,650
DEPRECIATION
At 1 June 2014 2,215
Charge for year 1,165
At 31 May 2015 3,380
NET BOOK VALUE
At 31 May 2015 8,270
At 31 May 2014 9,435

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
1 Ordinary shares 1 100 1

Page 3