Abbreviated Company Accounts - CROSS CAR SALES LIMITED
Abbreviated Company Accounts - CROSS CAR SALES LIMITED
Registered Number 04727903
CROSS CAR SALES LIMITED
Abbreviated Accounts
31 May 2016
CROSS CAR SALES LIMITED Registered Number 04727903
Abbreviated Balance Sheet as at 31 May 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Creditors: amounts falling due within one year | 3 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
CROSS CAR SALES LIMITED Registered Number 04727903
Notes to the Abbreviated Accounts for the period ended 31 May 2016
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery etc - 20% on reducing balance
Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Other accounting policies
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Financial instruments
Financial instruments are classified and accounted for in accordance wiith the substance of the contractual arrangement rather than their legal form as either financial assets, financial liabilities or equity instruments. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
£ | |
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Cost | |
At 1 June 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 May 2016 |
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Depreciation | |
At 1 June 2015 |
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Charge for the year |
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On disposals |
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At 31 May 2016 |
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Net book values | |
At 31 May 2016 | 3,828 |
At 31 May 2015 | 4,785 |
2016
£ |
2015
£ |
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Secured Debts |
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