STANIC_MOTOR_CO_LIMITED - Accounts

STANIC MOTOR CO LIMITED - Company Information

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Company Registration No. 04036644 (England and Wales)

STANIC MOTOR CO LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

STANIC MOTOR CO LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

STANIC MOTOR CO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

31,254

25,532

Current assets

Stocks

480,832

557,332

Debtors

76,915

67,865

Investments

56,956

Cash at bank and in hand

3,750

2,500

618,453

684,653

Creditors: amounts falling due within one year

(146,989)

(197,514)

Net current assets

471,464

487,139

Total assets less current liabilities

502,718

512,671

Creditors: amounts falling due after more than one year

(18,624)

(37,443)

484,094

475,228

Capital and reserves

Called up share capital

1,000

Profit and loss account

483,094

474,228

Shareholders' funds

484,094

475,228

For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 June 2016

Mr N P Fowler

Director

Company Registration No. 04036644

STANIC MOTOR CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold property improvements

10% per annum on cost

Computer equipment

25% per annum of net book value

Fixtures, fittings and equipment

25% per annum of net book value

Motor vehicles

25% per annum of net book value

1.4

Investments

Current asset investments are stated at the lower of cost and net realisable value.

1.5

Stock

Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

STANIC MOTOR CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 October 2014

102,921

Additions

16,285

At 30 September 2015

119,206

Depreciation

At 1 October 2014

77,389

Charge for the year

10,563

At 30 September 2015

87,952

Net book value

At 30 September 2015

31,254

At 30 September 2014

25,532

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £70,570 (2014 - £57,259).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £18,624 (2014 - £37,443).

Share capital

2015

2014

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000