R & R Motors Exmouth Limited - Period Ending 2016-02-29

Registration number: 09225694

R & R Motors Exmouth Limited

Unaudited Abbreviated Accounts

for the Period from 19 September 2014 to 29 February 2016

 

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

R & R Motors Exmouth Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

R & R Motors Exmouth Limited
(Registration number: 09225694)
Abbreviated Balance Sheet at 29 February 2016

		Note			29 February 2016 £
Fixed assets
Tangible fixed assets					367,663
Current assets
Stocks					18,127
Debtors					14,000
Cash at bank and in hand					13,267
					45,394
Creditors: Amounts falling due within one year					(165,387)
Net current liabilities					(119,993)
Total assets less current liabilities					247,670
Creditors: Amounts falling due after more than one year					(171,290)
Provisions for liabilities					(899)
Net assets					75,481
Capital and reserves
Called up share capital		4			100
Profit and loss account					75,381
Shareholders' funds					75,481

For the period ending 29 February 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the director on 13 June 2016

Mr S Redmore
 Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

R & R Motors Exmouth Limited
Notes to the Abbreviated Accounts for the Period from 19 September 2014 to 29 February 2016
......... 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	Not depreciated
Plant and machinery	20% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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

R & R Motors Exmouth Limited
Notes to the Abbreviated Accounts for the Period from 19 September 2014 to 29 February 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		373,810			373,810
At 29 February 2016		373,810			373,810
Depreciation
Charge for the period		6,147			6,147
At 29 February 2016		6,147			6,147
Net book value
At 29 February 2016		367,663			367,663

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		29 February 2016 £
Amounts falling due within one year		9,355
Amounts falling due after more than one year		171,290
Total secured creditors		180,645

Included in the creditors are the following amounts due after more than five years:

		29 February 2016 £
After more than five years by instalments		133,870

Page 3

R & R Motors Exmouth Limited
Notes to the Abbreviated Accounts for the Period from 19 September 2014 to 29 February 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	29 February 2016
		No.			£
Ordinary shares of £1 each		100			100

New shares allotted

During the period 100 Ordinary shares having an aggregate nominal value of £100 were allotted for an aggregate consideration of £100. The shares were issued at par upon incorporation.

Page 4