Autoworx Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04484977 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST OCTOBER 2015

FOR

AUTOWORX LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Fabian

Mrs K L Fabian

SECRETARY:

Mrs K L Fabian

REGISTERED OFFICE:

Unit 501

Queensway Business Park

Hadley Park

Telford

Shropshire

TF1 7UL

REGISTERED NUMBER:

04484977 (England and Wales)

ACCOUNTANTS:

D E Ball & Co Limited

Chartered Accountants

15 Bridge Road

Wellington

Telford

Shropshire

TF1 1EB

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

23,007

32,531

23,007

32,531

CURRENT ASSETS

Stocks

10,000

Debtors

15,072

28,931

Cash at bank and in hand

10,677

7,410

35,749

46,341

CREDITORS

Amounts falling due within one year

30,479

49,715

NET CURRENT ASSETS/(LIABILITIES)

5,270

(3,374

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

28,277

29,157

CREDITORS

Amounts falling due after more than one
year

(320

)

(268

)

PROVISIONS FOR LIABILITIES

(393

)

(1,610

)

NET ASSETS

27,564

27,279

CAPITAL AND RESERVES

Called up share capital

4

40

Profit and loss account

27,524

27,239

SHAREHOLDERS' FUNDS

27,564

27,279

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 28th June 2016 and were signed on its behalf by:

Mrs K L Fabian - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Tenants improvements

-

10% on cost

Plant and machinery

-

25% on reducing balance

Equipment

-

15% on cost

Motor vehicles

-

25% 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2014

and 31st October 2015

20,000

AMORTISATION

At 1st November 2014

and 31st October 2015

20,000

NET BOOK VALUE

At 31st October 2015

-

At 31st October 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2014

124,455

Additions

374

Disposals

(13,461

)

At 31st October 2015

111,368

DEPRECIATION

At 1st November 2014

91,924

Charge for year

7,776

Eliminated on disposal

(11,339

)

At 31st October 2015

88,361

NET BOOK VALUE

At 31st October 2015

23,007

At 31st October 2014

32,531

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

40

Ordinary

£1

40