Ford Parts (UK) Limited - Abbreviated accounts 16.3
Ford Parts (UK) Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 August 2016 |
| for |
| Ford Parts (UK) Limited |
| Ford Parts (UK) Limited (Registered number: 03824713) |
| Contents of the Abbreviated Accounts |
| for the year ended 31 August 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Ford Parts (UK) Limited |
| Company Information |
| for the year ended 31 August 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BANKERS: |
| Ford Parts (UK) Limited (Registered number: 03824713) |
| Abbreviated Balance Sheet |
| 31 August 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the director on |
| Ford Parts (UK) Limited (Registered number: 03824713) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 August 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the assumption that the company is able on business as a going concern, which the |
| director considers appropriate. |
| 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). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small |
| company. |
| Turnover |
| Turnover represents net invoiced rental income and services, and in addition the sale of second hand motor spares, excluding |
| value added tax. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the businesses, is being amortised evenly over its |
| estimated useful life of twenty years. |
| Tangible fixed assets |
| Land and Buildings | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable |
| value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or |
| damaged stock where the net realisable value is less than cost. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it |
| can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the |
| underlying timing differences can be deducted. |
| Deferred tax is measured on a non-discounted basis at the average rates that are expected to apply in the periods in which the |
| timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by |
| 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. |
| 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. |
| Fixed asset investments |
| Depreciation is provided at the following annual rate in order to write off the asset over its estimated useful life. |
| Investment property - 4% on cost excluding land. |
| Ford Parts (UK) Limited (Registered number: 03824713) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 August 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2015 |
| and 31 August 2016 |
| AMORTISATION |
| At 1 September 2015 |
| Amortisation for year |
| At 31 August 2016 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2015 |
| Additions |
| At 31 August 2016 |
| DEPRECIATION |
| At 1 September 2015 |
| Charge for year |
| At 31 August 2016 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 September 2015 |
| and 31 August 2016 |
| PROVISIONS |
| At 1 September 2015 |
| Charge for year |
| At 31 August 2016 | 165,593 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| Freehold land included in the original purchase of Investment Property is estimated to be 25% of the investment cost, being |
| £85,160 (2015 - £85,160) and is not depreciated. |
| Ford Parts (UK) Limited (Registered number: 03824713) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 August 2016 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 6. | CONTROL |
| The controlling party is |