| FASTFIT CARS AND VANS LIMITED |
| Registered number: |
08651305 |
| Abbreviated Balance Sheet |
| as at 31 August 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
298,583 |
|
|
318,014 |
|
| Current assets |
| Stocks |
|
|
137,590 |
|
|
49,795 |
| Raw materials |
|
|
2,436 |
|
|
4,714 |
| Debtors |
|
|
8,616 |
|
|
1,275 |
| Cash at bank and in hand |
|
|
4,130 |
|
|
15,616 |
|
|
|
152,772 |
|
|
71,400 |
|
| Creditors: amounts falling due within one year |
|
|
(242,553) |
|
|
(125,650) |
|
| Net current liabilities |
|
|
|
(89,781) |
|
|
(54,250) |
|
| Total assets less current liabilities |
|
|
|
208,802 |
|
|
263,764 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(342,794) |
|
|
(348,300) |
|
|
|
| Net liabilities |
|
|
|
(133,992) |
|
|
(84,536) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
(133,993) |
|
|
(84,537) |
|
| Shareholder's funds |
|
|
|
(133,992) |
|
|
(84,536) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Ian Tate |
| Director |
| Approved by the board on 31 May 2016 |
|
| FASTFIT CARS AND VANS LIMITED |
| Notes to the Abbreviated Accounts |
| for the year ended 31 August 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% Reducing Balance |
|
Motor vehicles |
25% Reducing Balance |
|
Land and Building |
5% Reducing Balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 September 2014 |
350,830 |
|
Additions |
11,562 |
|
At 31 August 2015 |
362,392 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2014 |
32,816 |
|
Charge for the year |
30,993 |
|
At 31 August 2015 |
63,809 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2015 |
298,583 |
|
At 31 August 2014 |
318,014 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
- |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
