Ticehurst Motors Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04371613 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2016

for

Ticehurst Motors Limited

Page

Company Information

1

Abbreviated Statement of Financial Position

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A F Tucker

M A Tucker

D S Tucker

L S Tucker

SECRETARY:

D J Oliver

REGISTERED OFFICE:

Shadwell House

65 Lower Green Road

Rusthall

Tunbridge Wells

Kent

TN4 8TW

REGISTERED NUMBER:

04371613 (England and Wales)

ACCOUNTANTS:

Peter Hodgson & Co

Shadwell House

65 Lower Green Road

Rusthall

Tunbridge Wells

Kent

TN4 8TW

FIXED ASSETS

Intangible assets

2

-

Property, plant and equipment

3

45,950

41,588

45,950

41,588

CURRENT ASSETS

Inventories

419,459

322,960

Debtors

4,973

6,222

Cash at bank and in hand

256,475

320,707

680,907

649,889

CREDITORS

Amounts falling due within one year

194,849

169,094

NET CURRENT ASSETS

486,058

480,795

TOTAL ASSETS LESS CURRENT
LIABILITIES

532,008

522,383

CREDITORS

Amounts falling due after more than one year

(2,088

)

(6,109

)

PROVISIONS FOR LIABILITIES

(9,190

)

(8,318

)

NET ASSETS

520,730

507,956

CAPITAL AND RESERVES

Called up share capital

4

100

Retained earnings

520,630

507,856

SHAREHOLDERS' FUNDS

520,730

507,956

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 25 August 2016 and were signed on its behalf by:

A F Tucker - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as

permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill is amortised over its estimated useful life of 10 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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Inventories 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 statement of

financial position date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

165,000

AMORTISATION

At 1 June 2015

and 31 May 2016

165,000

NET BOOK VALUE

At 31 May 2016

-

At 31 May 2015

-

3.	PROPERTY, PLANT AND EQUIPMENT

Total

£

COST

At 1 June 2015

93,478

Additions

42,708

Disposals

(29,025

)

At 31 May 2016

107,161

DEPRECIATION

At 1 June 2015

51,890

Charge for year

15,317

Eliminated on disposal

(5,996

)

At 31 May 2016

61,211

NET BOOK VALUE

At 31 May 2016

45,950

At 31 May 2015

41,588

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

5.	ULTIMATE CONTROLLING PARTY

No one shareholder has overall control of the company.