Easyrentacab Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04178294 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

EASYRENTACAB LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

H Kott

REGISTERED OFFICE:

Langley House

Park Road

East Finchley

London

N2 8EY

REGISTERED NUMBER:

04178294 (England and Wales)

ACCOUNTANTS:

Accura Accountants Ltd

Langley House Park Road

East Finchley

London

N2 8EY

FIXED ASSETS

Tangible assets

2

475,435

482,230

CURRENT ASSETS

Stocks

10,660

10,120

Debtors

3

26,139

164,998

Cash at bank and in hand

39,223

78,117

76,022

253,235

CREDITORS

Amounts falling due within one year

295,135

256,399

NET CURRENT LIABILITIES

(219,113

)

(3,164

)

TOTAL ASSETS LESS CURRENT LIABILITIES

256,322

479,066

CREDITORS

Amounts falling due after more than one year

315,324

452,053

NET (LIABILITIES)/ASSETS

(59,002

)

27,013

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(59,102

)

26,913

SHAREHOLDERS' FUNDS

(59,002

)

27,013

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 17 January 2017 and were signed by:

H Kott - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis, the applicability of which is dependent

upon the continued support of the company's creditors and financiers. At the balance sheet date the company's

liabilities exceed its assets by £59,002 and the company made a loss in the year of £76,015. In the opinion of the

director the company has the support of its creditors and financiers for the foreseeable future, and it is therefore

considered appropriate to adopt the going concern policy.

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).

Turnover

Turnover for the year is wholly derived from the hiring out of london taxi cabs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value

of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the

shorter.

Fixtures and fittings - 25% reducing balance

Motor vehicles - 20% reducing balance

Plant and Machinery - 25% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

832,112

Additions

135,882

Disposals

(39,410

)

At 30 June 2016

928,584

DEPRECIATION

At 1 July 2015

349,882

Charge for year

119,863

Eliminated on disposal

(16,596

)

At 30 June 2016

453,149

NET BOOK VALUE

At 30 June 2016

475,435

At 30 June 2015

482,230

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 0 (30.6.15 - £ 10,543 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

100

Ordinary

1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2016 and

30 June 2015:

30.6.16

30.6.15

£

£

H Kott

Balance outstanding at start of year

(1,699

)

(1,699

)

Amounts advanced

4,449

-

Amounts repaid

-

-

Balance outstanding at end of year

2,750

(1,699

)

The director was paid £10,000 of dividends during the year. During the year, advances of £4,449 were made to

the director. The loan is interest free and repayable on demand.

6.	CONTROLLING PARTY

The company was controlled throughout the year by H Kott by virtue of his holding of 100% of the issued share

capital.