Abbreviated Company Accounts - PRESTIGE CARS (WALSDEN) LIMITED

PRESTIGE CARS (WALSDEN) LIMITED - Company Information

04680536 PRESTIGE CARS (WALSDEN) LIMITED 2016-02-28 false 2015-03-01 2016-02-28 true 04680536 2015-03-01 2016-02-28 04680536 2016-02-28 04680536 2015-02-28 04680536 uk-gaap-cd-bus:Director1 2015-03-01 2016-02-28 04680536 uk-gaap-cd-bus:Director2 2015-03-01 2016-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-01 2016-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2016-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2015-02-28 iso4217:GBP shares

Registered Number 04680536

PRESTIGE CARS (WALSDEN) LIMITED

Abbreviated Accounts

28 February 2016

PRESTIGE CARS (WALSDEN) LIMITED Registered Number 04680536

Abbreviated Balance Sheet as at 28 February 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	598	733
		598	733
Current assets
Stocks		1,500	1,500
		1,500	1,500
Creditors: amounts falling due within one year		(40,314)	(40,214)
Net current assets (liabilities)		(38,814)	(38,714)
Total assets less current liabilities		(38,216)	(37,981)
Creditors: amounts falling due after more than one year		(35,000)	(35,000)
Total net assets (liabilities)		(73,216)	(72,981)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(73,316)	(73,081)
Shareholders' funds		(73,216)	(72,981)

For the year ending 28 February 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 11 November 2016

And signed on their behalf by:
Mr E Stewart, Director

PRESTIGE CARS (WALSDEN) LIMITED Registered Number 04680536

Notes to the Abbreviated Accounts for the period ended 28 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate
Fixtures and fittings 15% Reducing balance basis
Office equipment 33% Reducing balance basis

Other accounting policies
Going concern
The financial statements have been prepared on a going concern basis. The director has considered the future finance of the company and has confirmed that the company will continue to receive the support of its director and other providors of finance.

Should the support of the company's finance providors be withdrawn and the company be unable to continue trading, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities which might arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Having considered the future of the company for the forseeable future, the director is confident of the continued support of the company's director and other providors of finance and consequently believes that the going concern basis is appropriate.

2Tangible fixed assets

	£
Cost
At 1 March 2015	5,362
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2016	5,362
Depreciation
At 1 March 2015	4,629
Charge for the year	135
On disposals	-
At 28 February 2016	4,764
Net book values
At 28 February 2016	598
At 28 February 2015	733

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100