Grange Cars and Commercials Limited - Abbreviated accounts 16.1

Grange Cars and Commercials Limited - Abbreviated accounts 16.1

GRANGE CARS AND COMMERCIALS LIMITED - Company Information

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REGISTERED NUMBER: 08321225 (England and Wales)



















Abbreviated Unaudited Accounts

for the Year Ended 31 January 2016

for

Grange Cars and Commercials Limited

Grange Cars and Commercials Limited (Registered number: 08321225)






Contents of the Abbreviated Accounts
for the Year Ended 31 January 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Grange Cars and Commercials Limited

Company Information
for the Year Ended 31 January 2016







DIRECTOR: C R Swinscoe





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 08321225 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ
Page 1
Grange Cars and Commercials Limited (Registered number: 08321225)

Abbreviated Balance Sheet
31 January 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 1,225 711

CURRENT ASSETS
Stocks 310,405 188,563
Debtors 34,028 32,656
Cash at bank 356,146 169,293
700,579 390,512
CREDITORS
Amounts falling due within one year 350,072 205,723
NET CURRENT ASSETS 350,507 184,789
TOTAL ASSETS LESS CURRENT
LIABILITIES
351,732
185,500

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account 351,632 185,400
SHAREHOLDERS' FUNDS 351,732 185,500

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 17 May 2016 and were signed by:





C R Swinscoe - Director


The notes form part of these abbreviated accounts

Page 2
Grange Cars and Commercials Limited (Registered number: 08321225)

Notes to the Abbreviated Accounts
for the Year Ended 31 January 2016

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 vehicles 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.

Plant and equipment - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow
moving items.

Deferred tax
Provision is made at current rates for taxation deferred in respect of all material timing differences.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 February 2015 1,000
Additions 698
At 31 January 2016 1,698
DEPRECIATION
At 1 February 2015 289
Charge for year 184
At 31 January 2016 473
NET BOOK VALUE
At 31 January 2016 1,225
At 31 January 2015 711

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary £1 100 100

Page 3