Chris Walker Motorcycles Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 09240106 (England and Wales)

CHRIS WALKER MOTORCYCLES LTD

Abbreviated Unaudited Accounts

for the Period

29 September 2014 to 29 February 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

C Currie

C Walker

SECRETARY:

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

09240106 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Tangible assets

2

183,505

CURRENT ASSETS

Stocks

533,705

Debtors

45,315

Cash at bank and in hand

16,640

595,660

CREDITORS

Amounts falling due within one year

511,261

NET CURRENT ASSETS

84,399

TOTAL ASSETS LESS CURRENT LIABILITIES

267,904

CREDITORS

Amounts falling due after more than one year

384,485

NET LIABILITIES

(116,581

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(116,583

)

SHAREHOLDERS' FUNDS

(116,581

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 February 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 22 June 2016 and were signed on its behalf by:

C Walker - 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 motorbikes, parts and clothing and cafe sales, excluding value added

tax. Sales of motorbikes are recognised on collection. Sales of parts, clothing and cafe sales are recognised at

the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

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

219,759

At 29 February 2016

219,759

DEPRECIATION

Charge for period

36,254

At 29 February 2016

36,254

NET BOOK VALUE

At 29 February 2016

183,505

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

1

2

4.	GOING CONCERN

The accounts have been prepared on the going concern basis since the directors have indicated they will

continue to support the working capital requirements of the company in the future.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Chris Walker Motorcycles Ltd for the period ended 29 February 2016 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Chris Walker Motorcycles Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chris Walker Motorcycles Ltd and state those matters that we have agreed to state to the Board of Directors of Chris Walker Motorcycles Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chris Walker Motorcycles Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chris Walker Motorcycles Ltd. You consider that Chris Walker Motorcycles Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Chris Walker Motorcycles Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

22 June 2016