Recoauto Limited - Abbreviated accounts 16.1

Recoauto Limited - Abbreviated accounts 16.1

AUTOFINITY PARTS LIMITED - Company Information

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REGISTERED NUMBER: 07937109 (England and Wales)















Abbreviated Accounts

for the Period 1 March 2015 to 30 September 2015

for

Recoauto Limited

Recoauto Limited (Registered number: 07937109)






Contents of the Abbreviated Accounts
for the Period 1 March 2015 to 30 September 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Recoauto Limited

Company Information
for the Period 1 March 2015 to 30 September 2015







DIRECTORS: G Wheeler
S Carter





SECRETARY: S Carter





REGISTERED OFFICE: 15-19 Cavendish Place
First Floor
London
W1G 0QE





REGISTERED NUMBER: 07937109 (England and Wales)





ACCOUNTANTS: Desai & Co
2nd Floor, Northside House
Mount Pleasant
Cockfosters
Hertfordshire
EN4 9EB
Page 1
Recoauto Limited (Registered number: 07937109)

Abbreviated Balance Sheet
30 September 2015

30.9.15 28.2.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 593,689 569,389
Tangible assets 3 3,348 4,624
597,037 574,013

CURRENT ASSETS
Debtors 196,795 110,515
Cash at bank and in hand 10,890 18,785
207,685 129,300
CREDITORS
Amounts falling due within one year 1,512,980 1,007,203
NET CURRENT LIABILITIES (1,305,295 ) (877,903 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(708,258
)
(303,890
)

CAPITAL AND RESERVES
Called up share capital 4 1 1
Profit and loss account (708,259 ) (303,891 )
SHAREHOLDERS' FUNDS (708,258 ) (303,890 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2015 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:





G Wheeler - Director


The notes form part of these abbreviated accounts

Page 2
Recoauto Limited (Registered number: 07937109)

Notes to the Abbreviated Accounts
for the Period 1 March 2015 to 30 September 2015

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 goods, 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 machinery etc - 33% on cost and 25% on cost

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

Research and development
Expenditure on research and development are shown under Intangible Fixed Assets.

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. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 March 2015 569,389
Additions 24,300
At 30 September 2015 593,689
NET BOOK VALUE

At 30 September 2015 593,689
At 28 February 2015 569,389

Page 3 continued...
Recoauto Limited (Registered number: 07937109)

Notes to the Abbreviated Accounts - continued
for the Period 1 March 2015 to 30 September 2015

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 March 2015 9,352
Additions 239
At 30 September 2015 9,591
DEPRECIATION
At 1 March 2015 4,728
Charge for period 1,515
At 30 September 2015 6,243
NET BOOK VALUE
At 30 September 2015 3,348
At 28 February 2015 4,624

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.15 28.2.15
value: £    £   
1 Ordinary 1 1 1

5. GOING CONCERN

After making enquiries, the shareholders have a reasonable expectation that the company has adequate
resources to continue in operational existence and meet its liabilities as they fall due for the
foreseeable future, being a period of at least twelve months from the date these financial statements
were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial
statements.

Page 4