Car Contacts Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01378737 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

for

CAR CONTACTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J Letch

Mrs P Letch

REGISTERED OFFICE:

Equity House

4-6 School Road

Tilehurst

Reading

Berkshire

RG31 5AL

REGISTERED NUMBER:

01378737 (England and Wales)

ACCOUNTANTS:

Avalon Accounting Limited

Equity House

4-6 School Road

Tilehurst

Reading

Berkshire

RG31 5AL

FIXED ASSETS

Tangible assets

2

21,706

24,773

CURRENT ASSETS

Stocks

196,772

242,690

Debtors

181,362

163,709

Cash in hand

1,087

4,829

379,221

411,228

CREDITORS

Amounts falling due within one year

3

(724,212

)

(694,972

)

NET CURRENT LIABILITIES

(344,991

)

(283,744

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(323,285

)

(258,971

)

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

(323,287

)

(258,973

)

SHAREHOLDERS' FUNDS

(323,285

)

(258,971

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 27 April 2017 and were signed on its behalf by:

J Letch - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors have confirmed that they will continue to give financial support to the company until such time as its

position improves. In addition the directors have confirmed that they will not recall their loans within 12 months. The

directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial

statements do not include any adjustments that would result if the financial support were withdrawn.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 August 2015

and 31 July 2016

175,811

DEPRECIATION

At 1 August 2015

151,038

Charge for year

3,067

At 31 July 2016

154,105

NET BOOK VALUE

At 31 July 2016

21,706

At 31 July 2015

24,773

3.

CREDITORS

Creditors include an amount of £ 107,123 (31.7.15 - £ 114,324 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

2

Ordinary shares

£1

2

5.	ULTIMATE PARENT COMPANY

The company is under the control of Mr. J R Letch & Mrs P Letch who are both directors of the company and each

of whom have a 50% interest of the issued share capital of the company.