Parts USA Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 09398969 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 21 January 2015 to 31 January 2016

for

Parts USA Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

5

DIRECTOR:

N McDonald

REGISTERED OFFICE:

13 The Gate Centre

Bredbury Parkway

Bredbury

Stockport

Cheshire

SK6 2SN

REGISTERED NUMBER:

09398969 (England and Wales)

ACCOUNTANTS:

IN Accountancy Limited

477 Buxton Road

Great Moor

Stockport

Cheshire

SK2 7HE

FIXED ASSETS

Tangible assets

2

5,914

CURRENT ASSETS

Stocks

5,845

Debtors

1,251

Cash at bank

25,441

32,537

CREDITORS

Amounts falling due within one year

38,365

NET CURRENT LIABILITIES

(5,828

)

TOTAL ASSETS LESS CURRENT LIABILITIES

86

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

85

SHAREHOLDERS' FUNDS

86

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2016 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 23 February 2016 and were signed by:

N McDonald - 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 cost

Fixtures and fittings

-

25% on cost

Stocks

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

obsolete and slow moving items.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

7,886

At 31 January 2016

7,886

DEPRECIATION

Charge for period

1,972

At 31 January 2016

1,972

NET BOOK VALUE

At 31 January 2016

5,914

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Parts USA Ltd for the period ended 31 January 2016 which comprise the

Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we

are subject to its ethical and other professional requirements which are detailed at

icaew.com/membershandbook.

This report is made solely to the director of Parts USA Ltd in accordance with our terms of engagement. Our

work has been undertaken solely to prepare for your approval the financial statements of Parts USA Ltd and

state those matters that we have agreed to state to the director of Parts USA Ltd in this report in accordance

with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its director for our work or for this

report.

It is your duty to ensure that Parts USA Ltd has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Parts

USA Ltd. You consider that Parts USA Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Parts USA Ltd.

For this reason, we have not verified the accuracy or completeness of the accounting records or information

and explanations you have given to us and we do not, therefore, express any opinion on the statutory

financial statements.

IN Accountancy Limited

477 Buxton Road

Great Moor

Stockport

Cheshire

SK2 7HE

Date: .............................................