Park Lane Autos Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07198856 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 April 2016

for

Park Lane Autos Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S J Brydon

A Cranton

REGISTERED OFFICE:

65 St Mary Street

Chippenham

Wiltshire

SN15 3JF

REGISTERED NUMBER:

07198856 (England and Wales)

ACCOUNTANTS:

Mander Duffill

Chartered Accountants

65 St Mary Street

Chippenham

Wiltshire

SN15 3JF

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

32,580

30,708

32,580

30,708

CURRENT ASSETS

Stocks

1,520

1,600

Debtors

12,661

23,868

Cash at bank and in hand

7,942

7,330

22,123

32,798

CREDITORS

Amounts falling due within one year

52,467

60,853

NET CURRENT LIABILITIES

(30,344

)

(28,055

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,236

2,653

PROVISIONS FOR LIABILITIES

1,887

2,336

NET ASSETS

349

317

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

249

217

SHAREHOLDERS' FUNDS

349

317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 8 December 2016 and were signed on
its behalf by:

S J Brydon - Director

A Cranton - 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 2010, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Improvements to property

-

Not provided

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on cost

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

20,000

AMORTISATION

At 1 May 2015

and 30 April 2016

20,000

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

44,606

Additions

5,752

At 30 April 2016

50,358

DEPRECIATION

At 1 May 2015

13,898

Charge for year

3,880

At 30 April 2016

17,778

NET BOOK VALUE

At 30 April 2016

32,580

At 30 April 2015

30,708

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

100

Ordinary

£1

100