Nu Car Auto Salvage Limited - Abbreviated accounts 16.1

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Nu Car Auto Salvage Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs M Thomson

D N Thomson

SECRETARY:

M Thomson

REGISTERED OFFICE:

2 Melville Street

Falkirk

FK1 1HZ

REGISTERED NUMBER:

SC072047 (Scotland)

ACCOUNTANTS:

Ian Macfarlane & Co.

Chartered Accountants

2 Melville Street

Falkirk

FK1 1HZ

FIXED ASSETS

Tangible assets

2

72,414

77,978

CURRENT ASSETS

Stocks

60,000

-

Debtors

34,133

111,864

94,133

111,864

CREDITORS

Amounts falling due within one year

164,461

176,946

NET CURRENT LIABILITIES

(70,328

)

(65,082

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,086

12,896

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

1,986

12,796

SHAREHOLDERS' FUNDS

2,086

12,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 18 August 2016 and were signed on its behalf by:

Mrs M Thomson - 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 services, 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.

Freehold property

-

2% on reducing balance

Plant and machinery

-

15% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

231,780

DEPRECIATION

At 1 April 2015

153,802

Charge for year

5,564

At 31 March 2016

159,366

NET BOOK VALUE

At 31 March 2016

72,414

At 31 March 2015

77,978

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

£1

100