Chell Motor Services Limited - Period Ending 2015-11-30

Registration number: 01060437

Chell Motor Services Limited Unaudited Abbreviated Accounts for the Year Ended 30 November 2015

Howsons Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

Chell Motor Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Chell Motor Services Limited
(Registration number: 01060437)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					225,000			360,000
Current assets
Debtors					1,705			305
Cash at bank and in hand					20,277			21,945
					21,982			22,250
Creditors: Amounts falling due within one year					(16,462)			(16,439)
Net current assets					5,520			5,811
Net assets					230,520			365,811
Capital and reserves
Called up share capital		3			61			61
Revaluation reserve					199,330			334,330
Profit and loss account					31,129			31,420
Shareholders' funds					230,520			365,811

For the year ending 30 November 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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 .

Approved by the Board on 6 June 2016 and signed on its behalf by:

.........................................
Mrs I Walford
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Chell Motor Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing a cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents the invoiced value of rentals for the year.

Depreciation

No depreciation is provided for in respect of freehold land and buildings as it is the directors' opnion that their market value is in excess of their net book value.

Asset class	Depreciation method and rate
Investment properties	Nil

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Chell Motor Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		360,000			360,000
Revaluations		(135,000)			(135,000)
At 30 November 2015		225,000			225,000
Depreciation
At 30 November 2015		-			-
Net book value
At 30 November 2015		225,000			225,000
At 30 November 2014		360,000			360,000

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		61			61			61			61

Page 3