Abbreviated Company Accounts - QUAY MOTORS LIMITED

Abbreviated Company Accounts - QUAY MOTORS LIMITED

QUAY MOTORS LIMITED - Company Information

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Registered Number 04355356

QUAY MOTORS LIMITED

Abbreviated Accounts

30 June 2016

QUAY MOTORS LIMITED Registered Number 04355356

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 19,968 16,024
19,968 16,024
Current assets
Stocks 145,600 90,939
Debtors 10,399 13,517
Cash at bank and in hand 5,217 17
161,216 104,473
Creditors: amounts falling due within one year (173,863) (112,847)
Net current assets (liabilities) (12,647) (8,374)
Total assets less current liabilities 7,321 7,650
Creditors: amounts falling due after more than one year (2,086) (3,786)
Provisions for liabilities (3,993) (3,205)
Total net assets (liabilities) 1,242 659
Capital and reserves
Called up share capital 110 110
Profit and loss account 1,132 549
Shareholders' funds 1,242 659
  • For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 23 November 2016

And signed on their behalf by:
D Tyler Esq, Director

QUAY MOTORS LIMITED Registered Number 04355356

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Machinery - 15% reducing balance basis
Equipment - 15% reducing balance basis

2Tangible fixed assets
£
Cost
At 1 July 2015 56,256
Additions 9,368
Disposals (2,999)
Revaluations -
Transfers -
At 30 June 2016 62,625
Depreciation
At 1 July 2015 40,232
Charge for the year 3,524
On disposals (1,099)
At 30 June 2016 42,657
Net book values
At 30 June 2016 19,968
At 30 June 2015 16,024

3Transactions with directors

Name of director receiving advance or credit: D Tyler Esq
Description of the transaction: Directors current account
Balance at 1 July 2015: £ 28,682
Advances or credits made: £ 37,000
Advances or credits repaid: -
Balance at 30 June 2016: £ 65,682

The company was under the control of D G Tyler Esq throughout the current and previous year. D G Tyler Esq is the managing director and holds one hundred per cent of the ordinary A Shares.

Dividends of £13,600 (2015: £17,750) were paid to D G Tyler Esq and £25,885 (2015: £6,050) to Mrs S F Berry in the year.

The balance outstanding due to the director at the year end amounted to £65,862 (2015: £28,682).

During the year the company paid D Tyler Esq £15,664 (2015: £15,664) for rent of the premises that are owned by the director.

During the year the company made sales to D Tyler Esq T/A Quay Motors of £Nil (2015: £Nil). At the balance sheet date £Nil (2015: £Nil) was outstanding