Ray Twiss Motors Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04568172 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 January 2016

for

Ray Twiss Motors Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

R J Twiss

SECRETARY:

Mrs E Twiss

REGISTERED OFFICE:

12/14 Macon Court

Crewe

Cheshire

CW1 6EA

REGISTERED NUMBER:

04568172 (England and Wales)

ACCOUNTANTS:

Alextra Group Limited

7-9 Macon Court

Crewe

Cheshire

CW1 6EA

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

9,149

9,314

9,149

9,314

CURRENT ASSETS

Stocks

216,575

231,545

Debtors

1,979

2,165

Cash at bank

34,527

14,472

253,081

248,182

CREDITORS

Amounts falling due within one year

(46,724

)

(46,903

)

NET CURRENT ASSETS

206,357

201,279

TOTAL ASSETS LESS CURRENT
LIABILITIES

215,506

210,593

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

215,505

210,592

SHAREHOLDERS' FUNDS

215,506

210,593

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 21 September 2016 and were signed by:

R J Twiss - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

and 31 January 2016

30,000

AMORTISATION

At 1 February 2015

and 31 January 2016

30,000

NET BOOK VALUE

At 31 January 2016

-

At 31 January 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

13,432

Additions

857

Disposals

(99

)

At 31 January 2016

14,190

DEPRECIATION

At 1 February 2015

4,118

Charge for year

990

Eliminated on disposal

(67

)

At 31 January 2016

5,041

NET BOOK VALUE

At 31 January 2016

9,149

At 31 January 2015

9,314

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.1.15

value:

£

1

Ordinary

£1

1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year ended 31 January 2016 the company owed the director £38,852. (2015 - £38,320). The advances

and credits made to the director were interest free and repayable on demand.