Banbury Autos Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05717108 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

BANBURY AUTOS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J P Colmer

SECRETARY:

Mrs V A Colmer

REGISTERED OFFICE:

Moreton House

31 High Street

Buckingham

Buckinghamshire

MK18 1NU

REGISTERED NUMBER:

05717108 (England and Wales)

ACCOUNTANTS:

ANTHISTLE CRAVEN

Moreton House

31 High Street

Buckingham

Buckinghamshire

MK18 1NU

FIXED ASSETS

Tangible assets

2

17,930

15,844

CURRENT ASSETS

Stocks

4,500

500

Debtors

23,044

15,333

Cash at bank

7,837

19,953

35,381

35,786

CREDITORS

Amounts falling due within one year

64,633

85,394

NET CURRENT LIABILITIES

(29,252

)

(49,608

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(11,322

)

(33,764

)

PROVISIONS FOR LIABILITIES

2,830

2,258

NET LIABILITIES

(14,152

)

(36,022

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(14,153

)

(36,023

)

SHAREHOLDERS' FUNDS

(14,152

)

(36,022

)

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 director acknowledges his 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 director on 30 November 2016 and were signed by:

J P Colmer - 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.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

38,916

Additions

5,247

At 31 March 2016

44,163

DEPRECIATION

At 1 April 2015

23,072

Charge for year

3,161

At 31 March 2016

26,233

NET BOOK VALUE

At 31 March 2016

17,930

At 31 March 2015

15,844

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

1

Ordinary

£1

1

4.	GOING CONCERN

The Company's ability to continue as a going concern is dependent on the ongoing support of its director Mr J P

Colmer by way of an interest free loan.