MOTOR_&_ARMATURE_REWINDS_ - Accounts

MOTOR & ARMATURE REWINDS LIMITED - Company Information

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Company Registration No. 941689 (England and Wales)

MOTOR & ARMATURE REWINDS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

MOTOR & ARMATURE REWINDS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MOTOR & ARMATURE REWINDS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,306

1,480

Current assets

Stocks

4,200

4,379

Debtors

19,204

9,235

Cash at bank and in hand

14,334

10,028

37,738

23,642

Creditors: amounts falling due within one year

(50,921)

(38,163)

Net current liabilities

(13,183)

(14,521)

Total assets less current liabilities

(11,877)

(13,041)

Provisions for liabilities

(234)

(297)

(12,111)

(13,338)

Capital and reserves

Called up share capital

100

Profit and loss account

(12,211)

(13,438)

Shareholders' funds

(12,111)

(13,338)

For the financial year ended 30 November 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 members have 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 8 August 2016

D Nagy

Director

Company Registration No. 941689

MOTOR & ARMATURE REWINDS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 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).

The company is able to meet its day-to-day working capital requirements through the provision of loans from the directors and use of the bank overdraft facility. This support is not expected to be withdrawn, and on this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

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:

Plant and machinery

15% reducing balance

Fixtures, fittings & equipment

15% & 40% reducing balance

Motor vehicles

20% reducing balance

1.5

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

1.6

Revenue recognition

Turnover is recognised over the period the service is provided to the customer.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

MOTOR & ARMATURE REWINDS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 December 2014

22,519

Additions

167

At 30 November 2015

22,686

Depreciation

At 1 December 2014

21,039

Charge for the year

341

At 30 November 2015

21,380

Net book value

At 30 November 2015

1,306

At 30 November 2014

1,480

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100