BCS4cars Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02023570 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

BCS4CARS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr P P Sullivan

Mrs P Sullivan

Miss D Jones

SECRETARY:

Mrs P Sullivan

REGISTERED OFFICE:

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

REGISTERED NUMBER:

02023570 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Tangible assets

2

562,334

589,801

CURRENT ASSETS

Stocks

35,192

223,663

Debtors

305,767

9,344

Cash at bank

625,202

252,114

966,161

485,121

CREDITORS

Amounts falling due within one year

589,584

501,234

NET CURRENT ASSETS/(LIABILITIES)

376,577

(16,113

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

938,911

573,688

CREDITORS

Amounts falling due after more than one year

-

(18,371

)

PROVISIONS FOR LIABILITIES

(11,175

)

(14,823

)

NET ASSETS

927,736

540,494

CAPITAL AND RESERVES

Called up share capital

3

1,000

Revaluation reserve

360,260

Profit and loss account

566,476

179,234

SHAREHOLDERS' FUNDS

927,736

540,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 23 November 2016 and were signed on its behalf by:

Mr P P Sullivan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of

certain assets 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.

Freehold property

-

2% on valuation

Improvements to property

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Depreciation on freehold property applies to the value of the buildings only. Depreciation of improvements to

property commences when the building to which the improvement relates is brought into use, which was during

2012.

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 material timing differences that have originated but not reversed at the

balance sheet date unless such provision is not permitted by FRS19.

In accordance with FRS19 deferred taxation is not provided for on revaluation gains on land and buildings unless

there is a binding contract to sell them at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2015

and 31 March 2016

679,002

DEPRECIATION

At 1 April 2015

89,201

Charge for year

27,467

At 31 March 2016

116,668

NET BOOK VALUE

At 31 March 2016

562,334

At 31 March 2015

589,801

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

NIL

Ordinary

£1

-

1,000

(2015 - 1,000 )

900

Ordinary A

£1

900

-

100

Ordinary B

£1

100

-

1,000

4.	ULTIMATE PARENT COMPANY

The company is subsidiary of BCS Corporate Limited, a company incorporated in England, which is under the

control of Mr & Mrs P Sullivan.

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 March 2016 the company was owed the following amounts by the directors: Mr P Sullivan £27,612 (2015

£33 was owed by the company), Mrs P Sullivan £33,376 (2015 £10 was owed by the company), Miss D Jones

£5,157 (2015 £nil). Interest has been charged on these amounts and they carry no fixed terms for repayment.