R'S_AUTOS_LIMITED - Accounts

R'S AUTOS LIMITED - Company Information

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Company Registration No. 04315274 (England and Wales)

R'S AUTOS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

LB GROUP

82 East Hill

Colchester

Essex

CO1 2QW

R'S AUTOS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

R'S AUTOS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

4,187

4,937

Tangible assets

52,848

9,034

57,035

13,971

Current assets

Stocks

1,101

1,003

Debtors

17,611

16,039

Cash at bank and in hand

22,130

33,048

40,842

50,090

Creditors: amounts falling due within one year

(83,773)

(53,976)

Net current liabilities

(42,931)

(3,886)

Total assets less current liabilities

14,104

10,085

Creditors: amounts falling due after more than one year

(6,062)

8,042

10,085

Capital and reserves

Called up share capital

Profit and loss account

8,041

10,084

Shareholders' funds

8,042

10,085

R'S AUTOS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 APRIL 2016

- 2 -

For the financial 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:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 January 2017

R I Hibble

Director

Company Registration No. 04315274

R'S AUTOS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Amortisation 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:

Goodwill 5% Straight Line

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% Reducing Balance

Equipment

15% Reducing Balance

Motor vehicles

25% Reducing Balance

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.7

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.8

Going concern

At the balance sheet date the company had net current liabilities. However, in the opinion of the director, the company will have sufficient working capital to meet all future liabilities as they fall due. Consequently the financial statements have been prepared on a going concern basis.

R'S AUTOS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2015

15,000

28,581

43,581

Additions

45,389

At 30 April 2016

15,000

73,970

88,970

Depreciation

At 1 May 2015

10,063

19,547

29,610

Charge for the year

750

1,575

2,325

At 30 April 2016

10,813

21,122

31,935

Net book value

At 30 April 2016

4,187

52,848

57,035

At 30 April 2015

4,937

9,034

13,971

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary shares of £1 each