Mode Racing Limited - Abbreviated accounts 16.3
Mode Racing Limited - Abbreviated accounts 16.3
REGISTERED NUMBER: |
ABBREVIATED ACCOUNTS FOR THE PERIOD 19 JUNE 2015 TO 30 JUNE 2016 |
FOR |
MODE RACING LIMITED |
MODE RACING LIMITED (REGISTERED NUMBER: 09647957) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE PERIOD 19 JUNE 2015 TO 30 JUNE 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
MODE RACING LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 19 JUNE 2015 TO 30 JUNE 2016 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
MODE RACING LIMITED (REGISTERED NUMBER: 09647957) |
ABBREVIATED BALANCE SHEET |
30 JUNE 2016 |
Notes | £ |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 2 |
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 |
MODE RACING LIMITED (REGISTERED NUMBER: 09647957) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE PERIOD 19 JUNE 2015 TO 30 JUNE 2016 |
1. | ACCOUNTING POLICIES |
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 represents net invoiced sales of goods, excluding value added tax. |
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 taxation is provided on the liability method to take account of timing differences between the |
treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or |
accelerated is accounted for in respect of all material timing differences. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
2. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 |
3. | ULTIMATE PARENT COMPANY |
4. | TRANSACTIONS WITH DIRECTORS |
Included within other debtors is a loan to the director, I S Edwards, amounting to £100. The loan is |
unsecured, interest free and repayable on demand. The maximum the account was overdrawn in the |
year was £100. |