Specialised Automobile Services (TW) Ltd - Limited company - abbreviated - 11.9
Specialised Automobile Services (TW) Ltd - Limited company - abbreviated - 11.9
REGISTERED NUMBER: |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2015 |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED (REGISTERED NUMBER: 07044596) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2015 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 | to | 3 |
Notes to the Abbreviated Accounts | 4 | to | 6 |
Chartered Accountants' Report | 7 |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2015 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
BANKERS: |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED (REGISTERED NUMBER: 07044596) |
ABBREVIATED BALANCE SHEET |
30 JUNE 2015 |
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
Tangible assets | 3 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED (REGISTERED NUMBER: 07044596) |
ABBREVIATED BALANCE SHEET - continued |
30 JUNE 2015 |
The financial statements were approved by the Board of Directors on |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED (REGISTERED NUMBER: 07044596) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2015 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At the balance sheet date the company had net current liabilities of £340,051 (2014: £323,004) and net |
liabilities of £261,595 (2014: £237,815). Net current liabilities includes £259,457 (2014 :£233,425) owing to C |
W Tomkins Limited and £283,189 (2014: £266,862) owing to C W Tomkins. |
Specialised Automobile Services (Turrino Wheels) Limited is a wholly owned subsidiary of C W Tomkins |
Limited. C W Tomkins, a director and sole shareholder of Specialised Automobile Services (Turrino Wheels) |
Limited owns 100% of the issued ordinary share capital in C W Tomkins Limited. |
The directors of Specialised Automobile Services (Turrino Wheels) Limited consider the financial statements |
should be prepared on a going concern basis because: |
- the director and shareholder of C W Tomkins Limited has given an undertaking not to withdraw monies owed |
by Specialised Automobile Services (Turrino Wheels) Limited to C W Tomkins Limited if it would prejudice the |
ability of Specialised Automobile Services (Turrino Wheels) Limited to continue as a going concern. |
- C W Tomkins has given an undertaking not to withdraw monies lent to the company if it would prejudice the |
ability of the company to continue as a going concern. |
- in their opinion the company will achieve profitability in future periods. |
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. |
Intangible fixed assets |
Patents and licences are being amortised over their estimated useful life of ten years. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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. |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED (REGISTERED NUMBER: 07044596) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2015 |
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2014 |
Additions |
At 30 June 2015 |
AMORTISATION |
At 1 July 2014 |
Amortisation for year |
At 30 June 2015 |
NET BOOK VALUE |
At 30 June 2015 |
At 30 June 2014 |
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2014 |
Additions |
At 30 June 2015 |
DEPRECIATION |
At 1 July 2014 |
Charge for year |
At 30 June 2015 |
NET BOOK VALUE |
At 30 June 2015 |
At 30 June 2014 |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £1 |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED (REGISTERED NUMBER: 07044596) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2015 |
5. | CONTROLLING PARTY AND ULTIMATE PARENT COMPANY |
The company is controlled by |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SPECIALISED AUTOMOBILE SERVICES |
(TURRINO WHEELS) LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) 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 Specialised Automobile Services (Turrino Wheels) Limited for the year ended 30 June 2015 |
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 Board of Directors of Specialised Automobile Services (Turrino Wheels) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Specialised Automobile Services (Turrino Wheels) Limited and state those matters that we have agreed to state to the Board of Directors of Specialised Automobile Services (Turrino Wheels) Limited, as a body, 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 Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Specialised Automobile Services (Turrino Wheels) Limited 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 loss of Specialised Automobile Services (Turrino Wheels) Limited. You consider that Specialised Automobile Services (Turrino Wheels) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Specialised Automobile |
Services (Turrino Wheels) Limited. 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. |
23 March 2016 |