Automotive Gas Power Limited - Abbreviated accounts 16.1

AUTOMOTIVE GAS POWER LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J G Ranson

SECRETARY:

Mrs B J Ranson

REGISTERED OFFICE:

11C Kingswood Road

Hampton Lovett

Droitwich

Worcestershire

WR9 0QH

REGISTERED NUMBER:

03506494 (England and Wales)

ACCOUNTANTS:

Ballard Dale Syree Watson LLP

Chartered Accountants

11c Kingswood Road

Hampton Lovett

Droitwich

Worcestershire

WR9 0QH

FIXED ASSETS

Tangible assets

2

255,819

179,754

CURRENT ASSETS

Stocks

81,811

87,811

Debtors

17,919

44,804

Cash at bank and in hand

5,389

4,789

105,119

137,404

CREDITORS

Amounts falling due within one year

314,226

436,703

NET CURRENT LIABILITIES

(209,107

)

(299,299

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

46,712

(119,545

)

CREDITORS

Amounts falling due after more than one
year

3

138,489

101,456

NET LIABILITIES

(91,777

)

(221,001

)

CAPITAL AND RESERVES

Called up share capital

4

75,000

58,500

Share premium

99,000

Profit and loss account

(265,777

)

(378,501

)

SHAREHOLDERS' FUNDS

(91,777

)

(221,001

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 29 June 2016 and were signed by:

J G Ranson - 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

632,552

Additions

248,058

Disposals

(154,167

)

At 30 September 2015

726,443

DEPRECIATION

At 1 October 2014

452,798

Charge for year

85,274

Eliminated on disposal

(67,448

)

At 30 September 2015

470,624

NET BOOK VALUE

At 30 September 2015

255,819

At 30 September 2014

179,754

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

2015

2014

£

Repayable by instalments

66,666

9,427

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

21,000

Ordinary

£1

75,000

58,500

During the year 21,000 ordinary £1 shares were allotted and fully paid.