Barr-Tech Specialist Cars Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06120976 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 29 February 2016

for

Barr-Tech Specialist Cars Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S Barresi

A Barresi

REGISTERED OFFICE:

90 - 92 Cowley Road

Cambridge

Cambridgeshire

CB4 0DL

REGISTERED NUMBER:

06120976 (England and Wales)

ACCOUNTANTS:

Hills Accountants Limited

98 Culley Court

Orton Southgate

Peterborough

Cambridgeshire

PE2 6WA

FIXED ASSETS

Intangible assets

2

7,000

14,000

Tangible assets

3

19,116

21,838

26,116

35,838

CURRENT ASSETS

Stocks

82,558

55,988

Debtors

53,164

34,800

Cash at bank and in hand

40,373

111,568

176,095

202,356

CREDITORS

Amounts falling due within one year

83,789

98,046

NET CURRENT ASSETS

92,306

104,310

TOTAL ASSETS LESS CURRENT LIABILITIES

118,422

140,148

PROVISIONS FOR LIABILITIES

4,560

5,469

NET ASSETS

113,862

134,679

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

113,860

134,677

SHAREHOLDERS' FUNDS

113,862

134,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 28 September 2016 and were signed on its behalf by:

S Barresi - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

70,000

AMORTISATION

At 1 March 2015

56,000

Amortisation for year

7,000

At 29 February 2016

63,000

NET BOOK VALUE

At 29 February 2016

7,000

At 28 February 2015

14,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

163,660

Additions

4,454

Disposals

(7,470

)

At 29 February 2016

160,644

DEPRECIATION

At 1 March 2015

141,822

Charge for year

6,577

Eliminated on disposal

(6,871

)

At 29 February 2016

141,528

NET BOOK VALUE

At 29 February 2016

19,116

At 28 February 2015

21,838

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.16

28.2.15

value:

£

£

2

Ordinary

£1.00

2

2