The Car Empire Limited,Ltd - Accounts

THE CAR EMPIRE LIMITED - Company Information

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The Car Empire Limited

For the year ended 31 December 2015

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 08956675

The Car Empire Limited

Accountants' Report

For the year ended 31 December 2015

As described in the balance sheet you are responsible for the preparation of the financial statements for the year

ended 31 December 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.

S G Accountants Limited

150A Preston Old Road

Blackpool

Lancashire

FY3 9QP

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Abbreviated Balance Sheet

The Car Empire Limited

As at 31 December 2015

08956675

Registered Number :

2015

Notes

Fixed assets

Tangible assets

47,540

Current assets

Stocks

1,074,898

Debtors

48,208

Cash at bank and in hand

73,083

1,196,189

Creditors: amounts falling due within one year

(1,171,705)

24,484

Net current assets

Total assets less current liabilities

72,024

Net assets/liabilities

Capital and reserves

Called up share capital

1,000

Profit and loss account

71,024

72,024

Shareholders funds

For the year ended 31 December 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: 29 April 2016

HUSSAIN, Ifzal Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

The Car Empire Limited

For the year ended 31 December 2015

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets

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

25% Reducing balance

Fixtures and Fittings

25% Reducing balance

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

47,540

Additions

At 31 December 2015

47,540

Net book values

At 31 December 2015

47,540

3 Share capital

Authorised

1,000 Class A shares of £1.00 each

Allotted called up and fully paid

2015

1,000 Class A shares of £1.00 each

1,000

1000 Class A £1.00 shares have been issued during the year at par for a cash consideration of £1,000.

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