Claude Holman Cars Limited - Period Ending 2016-05-31

 
 
 
 
 
 
 
  Claude Holman Cars Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 May 2016
 
  Company Registration Number: 03309743

Claude Holman Cars Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Claude Holman Cars Limited
Abbreviated Balance Sheet
31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			320,427			300,362
Current assets
Stocks					4,179			21,520
Debtors					334,205			231,006
Cash at bank and in hand					1,760			1,053
					340,144			253,579
Creditors: Amounts falling due within one year					(178,137)			(166,166)
Net current assets					162,007			87,413
Total assets less current liabilities					482,434			387,775
Creditors: Amounts falling due after more than one year					(483,050)			(433,050)
Net liabilities					(616)			(45,275)
Capital and reserves
Called up share capital		4			26,000			26,000
Profit and loss account					(26,616)			(71,275)
Shareholders' deficit					(616)			(45,275)

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Claude Holman Cars Limited
Abbreviated Balance Sheet
31 May 2016 ......... continued

For the year ending 31 May 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 director acknowledges his 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 director on 20 January 2017

C G Holman
Director

Company Registration Number: 03309743

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Claude Holman Cars Limited
Notes to the Abbreviated Accounts
Year Ended 31 May 2016 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis due to the continued support from the director.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and Buildings	Straight line over fifty years
Plant and machinery	Straight line over four years
Fixtures, fittings and equipment	Straight line over four years

Stock

Stock is valued at the lower of cost and net realisable value.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Claude Holman Cars Limited
Notes to the Abbreviated Accounts
Year Ended 31 May 2016 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		490,731			490,731
Additions		26,079			26,079
At 31 May 2016		516,810			516,810
Depreciation
At 1 June 2015		190,369			190,369
Charge for the year		6,014			6,014
At 31 May 2016		196,383			196,383
Net book value
At 31 May 2016		320,427			320,427
At 31 May 2015		300,362			300,362

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		136,322			138,638

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		26,000			26,000			26,000			26,000

Page 4