Saxon Bridge Automotive Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05523363 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2015

for

Saxon Bridge Automotive Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs C Whiles

B J Whiles

SECRETARY:

Mrs C Whiles

REGISTERED OFFICE:

The Old Fire Station Stratford Road

Wolverton

Milton Keynes

Buckinghamshire

MK12 5LX

REGISTERED NUMBER:

05523363 (England and Wales)

ACCOUNTANTS:

Thompson Balch Chartered Accountants

Sovereign House

15 Towcester Road

Old Stratford

Milton Keynes

Buckinghamshire

MK12 6AN

FIXED ASSETS

Intangible assets

2

11,000

Tangible assets

3

861,098

734,185

872,098

745,185

CURRENT ASSETS

Stocks

823,184

632,973

Debtors

102,184

9,076

Cash at bank

39,928

13,715

965,296

655,764

CREDITORS

Amounts falling due within one year

966,154

831,657

NET CURRENT LIABILITIES

(858

)

(175,893

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

871,240

569,292

CREDITORS

Amounts falling due after more than one
year

460,090

280,693

NET ASSETS

411,150

288,599

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

411,148

288,597

SHAREHOLDERS' FUNDS

411,150

288,599

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 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 21 April 2016 and were signed on its
behalf by:

B J Whiles - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

and 31 August 2015

11,000

NET BOOK VALUE

At 31 August 2015

11,000

At 31 August 2014

11,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

960,283

Additions

279,163

Disposals

(57,967

)

At 31 August 2015

1,181,479

DEPRECIATION

At 1 September 2014

226,098

Charge for year

112,925

Eliminated on disposal

(18,642

)

At 31 August 2015

320,381

NET BOOK VALUE

At 31 August 2015

861,098

At 31 August 2014

734,185

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

2

Ordinary

1

2