CV2 Self Drive Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06779581 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2013

FOR

CV2 SELF DRIVE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D J Lake

N J Salmon

REGISTERED OFFICE:

Ormston House

Eastboro Way

Nuneaton

Warwickshire

CV11 6QG

REGISTERED NUMBER:

06779581 (England and Wales)

ACCOUNTANTS:

McCander Scott & Co

62 Glenwood Gardens

Bedworth

Warwickshire

CV12 8DA

BANKERS:

HSBC Bank plc

55 Corporation Street

Coventry

West Midlands

CV1 1GX

FIXED ASSETS

Tangible assets

2

146,732

64,530

CURRENT ASSETS

Debtors

16,622

13,004

Cash at bank and in hand

39,883

19,595

56,505

32,599

CREDITORS

Amounts falling due within one year

3

112,668

45,103

NET CURRENT LIABILITIES

(56,163

)

(12,504

)

TOTAL ASSETS LESS CURRENT LIABILITIES

90,569

52,026

CREDITORS

Amounts falling due after more than one year

(77,623

)

(13,104

)

PROVISIONS FOR LIABILITIES

(4,125

)

(12,626

)

NET ASSETS

8,821

26,296

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

8,819

26,294

SHAREHOLDERS' FUNDS

8,821

26,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2013 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 31st August 2014 and were signed on its behalf by:

D J Lake - Director

N J Salmon - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Fittings and equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

Cost

At 1st January 2013

122,105

Additions

141,532

Disposals

(18,796

)

At 31st December 2013

244,841

Depreciation

At 1st January 2013

57,575

Charge for year

50,127

Eliminated on disposal

(9,593

)

At 31st December 2013

98,109

Net book value

At 31st December 2013

146,732

At 31st December 2012

64,530

3.

CREDITORS

Creditors include an amount of £ 0 (31/12/12 - £ 7,170 ) for which security has been given.

They also include the following debts falling due in more than five years:

31/12/13

31/12/12

£

£

Repayable by instalments

3,510

5,604

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/13

31/12/12

value:

£

£

2

Ordinary

1

2

2