Accounts filed on 31-10-2016


Registered number: 04713107






Highfield Motors Limited


ABBREVIATED ACCOUNTS

FOR THE 550 DAY PERIOD ENDED 31/10/2016
























Prepared By:
RGM Accountancy & Taxation Services Limited
Chartered Tax Advisers
10 Station Yard
Tiddington
THAME
Oxfordshire
OX9 2FG


ABBREVIATED ACCOUNTS


FOR THE 550 DAY PERIOD ENDED 31/10/2016

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 04713107


Registered Number: 04713107

BALANCE SHEET AT 31/10/2016

			2016		2015
	Notes		£		£

FIXED ASSETS
Tangible assets	3		1,289,412		1,322,384

CURRENT ASSETS
Stock		1,546,981		1,432,575
Debtors (amounts falling due within one year)	4	247,191		384,561
Cash at bank and in hand		102,066		545,212
		1,896,238		2,362,348
CREDITORS: Amounts falling due within one year		126,942		365,533
NET CURRENT ASSETS			1,769,296		1,996,815
TOTAL ASSETS LESS CURRENT LIABILITIES			3,058,708		3,319,199


PROVISIONS FOR LIABILITIES			5,359		6,896

NET ASSETS			3,053,349		3,312,303

CAPITAL AND RESERVES

Called up share capital	5		2		2
Profit and loss account			3,053,347		3,312,301
SHAREHOLDERS' FUNDS			3,053,349		3,312,303

For the year ending 31/10/2016 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 directors acknowledge their 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 board on 23/04/2017 and signed on their behalf by




R G M Lowe Esq.
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Land And Buildings		straight line 4%
Plant and Machinery		reducing balance 25%




1c. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.




1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1e. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.




1f. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




1g. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.




4. DEBTORS	2016	2015
	£	£

Amounts falling due within one year:
Trade debtors	(897)	16,310
Other debtors	248,088	368,251
	247,191	384,561




5. SHARE CAPITAL	2016	2015
	£	£
Allotted, issued and fully paid:
2 Ordinary shares of £1 each	2	2
	2	2