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08165768
2015-08-31
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iso4217:GBP
| Embassy Cars (UK) Limited |
For the year ended 31 August 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 08165768
2
Embassy Cars (UK) Limited
For the year ended 31 August 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Embassy Cars (UK) Limited
Accountants' Report
For the year ended 31 August 2015
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year |
| ended 31 August 2015 and you consider that the company is exempt from an audit under the Companies Act 2006. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you |
| to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
The Accountancy Solutions
Fort Dunlop
Fort Parkway
Birmingham
B24 9FE
22 October 2015
1 of 4
4
| Abbreviated Balance Sheet |
Embassy Cars (UK) Limited
2015
2014
2
14,030
14,030
3
95,511
64,584
109,541
78,614
25,647
12,587
58,136
41,169
70,723
66,816
| Creditors: amounts falling due within one year |
(40,841)
(13,242)
25,975
57,481
Net current assets
| Total assets less current liabilities |
167,022
104,589
| Creditors: amounts falling due after more than one year |
(61,000)
(141,880)
25,142
Net assets
43,589
100
4
100
25,042
43,489
25,142
43,589
Shareholders funds
| For the year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) The directors acknowledge their 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. |
| Date approved by the board: 22 October 2015 |
| Signed on behalf of the board of directors |
2 of 4
5
| Notes to the Abbreviated Financial Statements |
Embassy Cars (UK) Limited
For the year ended 31 August 2015
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
| The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
| Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the |
| estimated expected useful economic life of the goodwill of 0 years. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Motor Vehicles
Fixtures and Fittings
3 of 4
6
| Notes to the Abbreviated Financial Statements |
Embassy Cars (UK) Limited
For the year ended 31 August 2015
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
| Provisions are recognised when the company has a present obligation as a result of a past event which it is more |
| probable than not will result in an outflow of economic benefits that can be reasonably estimated. |
| 2 Intangible fixed assets |
14,030
14,030
14,030
14,030
80,730
40,000
120,730
16,146
9,073
Charge for year
25,219
95,511
64,584
| Allotted called up and fully paid |
2015
2014
| 100 Class A shares of £1.00 each |
100
100
100
100
4 of 4
