Abbreviated Company Accounts - CARMAN CARS LIMITED

CARMAN CARS LIMITED - Company Information

06082621 CARMAN CARS LIMITED 2016-02-29 false 2015-03-01 2016-02-29 true 06082621 2015-03-01 2016-02-29 06082621 2016-02-29 06082621 2015-02-28 06082621 uk-gaap-cd-bus:Director1 2015-03-01 2016-02-29 06082621 uk-gaap-cd-bus:Director2 2015-03-01 2016-02-29 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-01 2016-02-29 uk-gaap-cd-bus:OrdinaryShareClass1 2016-02-29 uk-gaap-cd-bus:OrdinaryShareClass1 2015-02-28 iso4217:GBP shares

Registered Number 06082621

CARMAN CARS LIMITED

Abbreviated Accounts

29 February 2016

CARMAN CARS LIMITED Registered Number 06082621

Abbreviated Balance Sheet as at 29 February 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	1,650	3,300
Tangible assets	3	62,160	63,858
		63,810	67,158
Current assets
Stocks		1,500	1,500
Cash at bank and in hand		950	873
		2,450	2,373
Creditors: amounts falling due within one year		(55,538)	(59,520)
Net current assets (liabilities)		(53,088)	(57,147)
Total assets less current liabilities		10,722	10,011
Creditors: amounts falling due after more than one year		(79,200)	(81,505)
Total net assets (liabilities)		(68,478)	(71,494)
Capital and reserves
Called up share capital	4	1	1
Profit and loss account		(68,479)	(71,495)
Shareholders' funds		(68,478)	(71,494)

For the year ending 29 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 18 October 2016

And signed on their behalf by:
A S Beckett, Director

CARMAN CARS LIMITED Registered Number 06082621

Notes to the Abbreviated Accounts for the period ended 29 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Freehold property - 2% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Other accounting policies
Stocks :
Stocks 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 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.

2Intangible fixed assets

	£
Cost
At 1 March 2015	16,500
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 29 February 2016	16,500
Amortisation
At 1 March 2015	13,200
Charge for the year	1,650
On disposals	-
At 29 February 2016	14,850
Net book values
At 29 February 2016	1,650
At 28 February 2015	3,300

Goodwill :
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

3Tangible fixed assets

	£
Cost
At 1 March 2015	80,868
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 29 February 2016	80,868
Depreciation
At 1 March 2015	17,010
Charge for the year	1,698
On disposals	-
At 29 February 2016	18,708
Net book values
At 29 February 2016	62,160
At 28 February 2015	63,858

4Called Up Share Capital
Allotted, called up and fully paid:

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