Tim Fry Landrovers Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03923675 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

FOR

TIM FRY LANDROVERS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr T W Fry

Mrs L J Fry

SECRETARY:

Mr T W Fry

REGISTERED OFFICE:

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

REGISTERED NUMBER:

03923675 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

FIXED ASSETS

Tangible assets

2

92

162

CURRENT ASSETS

Stocks

208,668

178,693

Debtors

390

10,615

Cash at bank and in hand

164

95

209,222

189,403

CREDITORS

Amounts falling due within one year

3

1,063,449

983,390

NET CURRENT LIABILITIES

(854,227

)

(793,987

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(854,135

)

(793,825

)

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

(854,137

)

(793,827

)

SHAREHOLDERS' FUNDS

(854,135

)

(793,825

)

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 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 19 October 2016 and were signed on its behalf by:

Mr T W Fry - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis on the understanding that the director, Mr

T Fry, will continue to support the company by not seeking the repayment of the debt due to his soletrader

business, or his loan as a director, in preference to other creditors. Mr T Fry will also continue to support the

company in order for it to meet it's liabilities as they fall due.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

Straight line over 3 years

Stocks

Stock of vehicles is valued at the lower of cost and net realisable value. The Glasses Guide bottom trade price is

used as the measure for net realisable value. In assessing net realisable value, due consideration is also given to

the estimated cost in bringing a vehicle to a saleable condition.

Deferred tax

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

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

and 31 January 2016

2,249

DEPRECIATION

At 1 February 2015

2,087

Charge for year

70

At 31 January 2016

2,157

NET BOOK VALUE

At 31 January 2016

92

At 31 January 2015

162

3.

CREDITORS

Creditors include an amount of £ 112,345 (31.1.15 - £ 161,582 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.1.15

value:

£

2

Ordinary

£1

2

5.	CONTROL RELATIONSHIPS

The ultimate controlling party is Mr T Fry by virtue of his shareholding.