Linney Tuning Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04558107 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

LINNEY TUNING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R T Linney

Mrs N K Linney

B H Linney

Mrs S C Mclean

SECRETARY:

R T Linney

REGISTERED OFFICE:

The Pheasantry

Heath Road

Breachwood Green

Hertfordshire

SG4 8PL

REGISTERED NUMBER:

04558107 (England and Wales)

ACCOUNTANTS:

Lovetts Accountants LLP

Bridge House

25 Fiddlebridge Lane

Hatfield

Hertfordshire

AL10 0SP

FIXED ASSETS

Tangible assets

2

6,923

5,420

CURRENT ASSETS

Stocks

21,763

43,842

Debtors

18,181

26,844

Investments

502,482

-

Cash at bank

455,930

752,399

998,356

823,085

CREDITORS

Amounts falling due within one year

193,227

200,410

NET CURRENT ASSETS

805,129

622,675

TOTAL ASSETS LESS CURRENT
LIABILITIES

812,052

628,095

CAPITAL AND RESERVES

Called up share capital

3

Profit and loss account

812,049

628,092

SHAREHOLDERS' FUNDS

812,052

628,095

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 16 December 2016 and were signed on its behalf
by:

Mrs N K Linney - 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

-

Straight line over 4 years

Fixtures and fittings

-

Straight line over 4 years

Computer equipment

-

Straight line over 4 years

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

40,316

Additions

5,340

At 31 March 2016

45,656

DEPRECIATION

At 1 April 2015

34,896

Charge for year

3,837

At 31 March 2016

38,733

NET BOOK VALUE

At 31 March 2016

6,923

At 31 March 2015

5,420

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

3

Ordinary

£1

3