Franklin Cars Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 09396642 (England and Wales)

Abbreviated Accounts

for the Period 20 January 2015 to 31 January 2016

for

Franklin Cars Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R W Byrne

A L Camolucci- Bordi

REGISTERED OFFICE:

Granite Buildings

6 Stanley Street

Liverpool

Merseyside

L1 6AF

REGISTERED NUMBER:

09396642 (England and Wales)

ACCOUNTANTS:

Sloan & Co.

Chartered Accountants

Granite Buildings

6 Stanley Street

Liverpool

Merseyside

L1 6AF

FIXED ASSETS

Tangible assets

2

30,737

CURRENT ASSETS

Debtors

15,195

Cash at bank

6,941

22,136

CREDITORS

Amounts falling due within one year

21,074

NET CURRENT ASSETS

1,062

TOTAL ASSETS LESS CURRENT LIABILITIES

31,799

CREDITORS

Amounts falling due after more than one year

36,047

NET LIABILITIES

(4,248

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(4,348

)

SHAREHOLDERS' FUNDS

(4,248

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2016 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 26 April 2016 and were signed on its behalf by:

A L Camolucci- Bordi - 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 services, excluding value added tax.

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.

Motor vehicles

-

25% on reducing balance

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

40,631

Disposals

(7,833

)

At 31 January 2016

32,798

DEPRECIATION

Charge for period

2,061

At 31 January 2016

2,061

NET BOOK VALUE

At 31 January 2016

30,737

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100