Solent Truck Parts Ltd - Accounts

Solent Truck Parts Ltd - Accounts

SOLENT TRUCK PARTS LIMITED - Company Information

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Registered Number : 03726877
England and Wales

 

 

 

SOLENT TRUCK PARTS LTD


Abbreviated Accounts
 


Period of accounts

Start date: 01 May 2015

End date: 30 April 2016

Solent Truck Parts Ltd
Contents Page
For the year ended 30 April 2016
As described in the balance sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2016 and you consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
Ray Dyer Chartered Accountants
Inglenook
Main Road
Nutbourne
PO18 8RR
25 May 2016
1
 
 		 Notes
 		 2016
£		   2015
£
Fixed assets      
Tangible fixed assets 2 80,579    77,909 
80,579    77,909 
Current assets      
Stocks 51,780    43,926 
Debtors 230,043    242,912 
Cash at bank and in hand 45,243    26,173 
327,066    313,011 
Creditors: amount falling due within one year (385,438)   (367,062)
Net current assets (58,372)   (54,051)
Total assets less current liabilities 22,207    23,858 
Creditors: amount falling due more than one year (17,580)   (14,827)
Net assets 4,627    9,031 

Capital and reserves 		     
Called up share capital 3 164    164 
Profit and loss account 4,463    8,867 
Shareholders funds 4,627    9,031 


For the year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.
Signed on behalf of the board of directors


--------------------------------
Tim Andrews
Director

Date approved by the board: 25 May 2016
2
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:


  Plant and Equipment 20% Reducing Balance

  Motor Vehicles 25% Reducing Balance

  Office Equipment 10% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.

Tangible fixed assets

Cost or Valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 May 2015 22,038    105,792    80,794    208,624 
Additions -    6,658    7,712    14,370 
Disposals -    -    -    - 
At 30 April 2016 22,038    112,450    88,506    222,994 
Depreciation
At 01 May 2015 -    71,993    58,722    130,715 
Charge for year -    8,400    3,300    11,700 
On disposals -    -    -    - 
At 30 April 2016 -    80,393    62,022    142,415 
Net book values
At 30 April 2016 22,038    32,057    26,484    80,579 
At 01 May 2015 22,038    33,799    22,072    77,909 


3.

Share Capital

Authorised
10,000 Class A shares of £1.00 each
1,000 Class B shares of £1.00 each

Allotted
2016
£		   2015
£
2 Class A shares of £1.00 each 2    2 
162 Class B shares of £1.00 each 162    162 
164    164 

3