Strada Automotive Limited Small abbreviated accounts

Strada Automotive Limited Small abbreviated accounts

STRADA AUTOMOTIVE LIMITED - Company Information

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FY Private Limited Company Company accounts 2017-03-30 2017-03-30 false true false false false false false false false false false false true true 2015-07-01 true xbrli:pure xbrli:shares iso4217:GBP 08573259 2015-07-01 2016-06-30 08573259 2016-06-30 08573259 2015-06-30 08573259 2015-06-30 08573259 uk-gaap:PlantMachinery 2015-07-01 2016-06-30 08573259 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-07-01 2016-06-30 08573259 uk-bus:OrdinaryShareClass1 2015-07-01 2016-06-30 08573259 uk-bus:Director1 2015-07-01 2016-06-30 08573259 uk-gaap:AllSubsidiaries 2015-07-01 2016-06-30 08573259 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2016-06-30 08573259 uk-bus:OrdinaryShareClass1 2016-06-30 08573259 uk-bus:OrdinaryShareClass1 2015-06-30 08573259 uk-lang:English 2015-07-01 2016-06-30 08573259 uk-curr:PoundSterling 2015-07-01 2016-06-30
COMPANY REGISTRATION NUMBER 08573259
STRADA AUTOMOTIVE LIMITED
ABBREVIATED ACCOUNTS
30 June 2016
CULLEY LIFFORD HALL
Chartered Certified Accountants
CATHEDRAL HOUSE
5 BEACON STREET
LICHFIELD
STAFFS
WS13 7AA
STRADA AUTOMOTIVE LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTORS OF STRADA
AUTOMOTIVE LIMITED
YEAR ENDED 30 JUNE 2016
As described on the balance sheet, the directors of the company are responsible for the preparation of the abbreviated accounts for the year ended 30 June 2016, which comprise the Balance Sheet and the related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited abbreviated accounts in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
CULLEY LIFFORD HALL Chartered Certified Accountants
CATHEDRAL HOUSE 5 BEACON STREET LICHFIELD STAFFS WS13 7AA
30 March 2017
STRADA AUTOMOTIVE LIMITED
ABBREVIATED BALANCE SHEET
30 June 2016
2016
2015
Note
£
£
£
FIXED ASSETS
2
Tangible assets
30,681
15,657
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---------
CURRENT ASSETS
Stocks
32,000
24,230
Debtors
9,362
5,561
Cash at bank and in hand
649
611
---------
---------
42,011
30,402
CREDITORS: Amounts falling due within one year
44,159
27,138
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 2,148)
3,264
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
28,533
18,921
CREDITORS: Amounts falling due after more than one year
177,194
92,083
----------
---------
( 148,661)
( 73,162)
----------
---------
CAPITAL AND RESERVES
Called up equity share capital
3
100
100
Profit and loss account
( 148,761)
( 73,262)
----------
---------
DEFICIT
( 148,661)
( 73,162)
----------
---------
For the year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on 30 March 2017 , and are signed on their behalf by:
MR M J CHESTERMAN DIRECTOR
Company Registration Number: 08573259
STRADA AUTOMOTIVE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 30 JUNE 2016
1. ACCOUNTING POLICIES
Basis of accounting
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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation 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:
Plant & 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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2. FIXED ASSETS
Tangible Assets
£
COST
At 1 July 2015
23,537
Additions
25,250
---------
At 30 June 2016
48,787
---------
DEPRECIATION
At 1 July 2015
7,880
Charge for year
10,226
---------
At 30 June 2016
18,106
---------
NET BOOK VALUE
At 30 June 2016
30,681
---------
At 30 June 2015
15,657
---------
3. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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