Automotive Macliver Limited - Abbreviated accounts 16.1

Automotive Macliver Limited - Abbreviated accounts 16.1

AUTOMOTIVE MACLIVER LIMITED - Company Information

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REGISTERED NUMBER: 03265846 (England and Wales)






























ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

6 AUGUST 2014 TO 31 JULY 2015

FOR

AUTOMOTIVE MACLIVER LIMITED

AUTOMOTIVE MACLIVER LIMITED (REGISTERED NUMBER: 03265846)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 6 AUGUST 2014 TO 31 JULY 2015










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

AUTOMOTIVE MACLIVER LIMITED

COMPANY INFORMATION
FOR THE PERIOD 6 AUGUST 2014 TO 31 JULY 2015







DIRECTORS: Mr K Macliver
Mrs C Macliver





SECRETARY: Mr K Macliver





REGISTERED OFFICE: Elm House
Belle Walk
Moseley
Birmingham
B13 9DF





REGISTERED NUMBER: 03265846 (England and Wales)
Page 1
AUTOMOTIVE MACLIVER LIMITED (REGISTERED NUMBER: 03265846)

ABBREVIATED BALANCE SHEET
31 JULY 2015

2015 2014
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 146,250 -
Tangible assets 3 12,389 10,284
158,639 10,284

CURRENT ASSETS
Stocks 94,062 163,605
Debtors 122,682 289,075
Cash at bank 40 250
216,784 452,930
CREDITORS
Amounts falling due within one year 4 179,494 131,790
NET CURRENT ASSETS 37,290 321,140
TOTAL ASSETS LESS CURRENT
LIABILITIES
195,929
331,424

CREDITORS
Amounts falling due after more than one
year
322,490
324,627
NET (LIABILITIES)/ASSETS (126,561 ) 6,797

CAPITAL AND RESERVES
Called up share capital 5 193,816 193,316
Share premium 607,064 602,564
Profit and loss account (927,441 ) (789,083 )
SHAREHOLDERS' FUNDS (126,561 ) 6,797

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these abbreviated accounts

Page 2 continued...
AUTOMOTIVE MACLIVER LIMITED (REGISTERED NUMBER: 03265846)

ABBREVIATED BALANCE SHEET - continued
31 JULY 2015


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 Board of Directors on 29 April 2016 and were signed on its behalf by:




Mr K Macliver - Director



Mrs C Macliver - Director


The notes form part of these abbreviated accounts

Page 3
AUTOMOTIVE MACLIVER LIMITED (REGISTERED NUMBER: 03265846)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 6 AUGUST 2014 TO 31 JULY 2015


1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared on a going concern basis. Continuing to trade depends upon the
support of the company's shareholders and loan creditor. Should the company be unable to continue to trade,
adjustments would have to be made to reduce the assets to their recoverable amount, to provide for any further
liabilities which may arise, and to reclassify fixed assets as current.

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).

REVENUE RECOGNITION
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice
value.

The company supplies products to customers from its manufacturing site, under standard terms and conditions.
In all cases revenue is recognised when the risks and rewards of ownership are transfered and this is defined to
be on placement of the order. The relevant costs for the manufacture of the product are also included in full as at
this point.

INTANGIBLE FIXED ASSETS
Amortisation is provided on the intangible fixed assets on a straight line basis over 10 years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% 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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Page 4 continued...
AUTOMOTIVE MACLIVER LIMITED (REGISTERED NUMBER: 03265846)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 6 AUGUST 2014 TO 31 JULY 2015


2. INTANGIBLE FIXED ASSETS
Total
£   
COST
Additions 162,500
At 31 July 2015 162,500
AMORTISATION
Amortisation for period 16,250
At 31 July 2015 16,250
NET BOOK VALUE

At 31 July 2015 146,250

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 6 August 2014 60,416
Additions 5,632
At 31 July 2015 66,048
DEPRECIATION
At 6 August 2014 50,132
Charge for period 3,527
At 31 July 2015 53,659
NET BOOK VALUE
At 31 July 2015 12,389
At 5 August 2014 10,284

4. CREDITORS

Creditors include an amount of £ 28,243 (2014 - £ 816 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015 2014
as restated
£    £   
Repayable by instalments 321,211 321,953

Page 5 continued...
AUTOMOTIVE MACLIVER LIMITED (REGISTERED NUMBER: 03265846)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 6 AUGUST 2014 TO 31 JULY 2015


5. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2015 2014
value: as restated
£    £   
193,816 Ordinary Shares £1 193,816 193,316
(2014 - 193,316
)

500 Ordinary shares of £1 were issued during the year for cash of £5,000

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 31 July 2015 and
5 August 2014:

2015 2014
as restated
£    £   
Mr K Macliver
Balance outstanding at start of period 30,762 7,822
Amounts advanced 282,269 249,679
Amounts repaid (386,238 ) (226,739 )
Balance outstanding at end of period (73,207 ) 30,762

7. RELATED PARTY DISCLOSURES

During the year the company paid Environmental Macliver Limited £20,170 (2014: £10,683) in administration
charges. At the year end there was a balance of £32,082 (2014: £168,239) owed by Environmental Macliver
Limited. Mr K Macliver and Mrs C Macliver are both directors and Mr K Macliver is the majority shareholder
of Environmental Macliver Limited.

During the year the company paid £18,252 (2014: £17,929) in royalties for use of the Multi Mac design.

Mr KS Macliver has provided a personal guarantee to the holders of the other loans; this is limited to £179,624.

Page 6