South West Car Repairs Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07833329 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 30 November 2016

for

South West Car Repairs Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr A J Kelly

REGISTERED OFFICE:

Chestnut Field House

Chestnut Field

Rugby

Warwickshire

CV21 2PD

REGISTERED NUMBER:

07833329 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

Chestnut Field House

Chestnut Field

Rugby

Warwickshire

CV21 2PD

FIXED ASSETS

Intangible assets

2

7,708

11,408

Tangible assets

3

3,215

5,838

10,923

17,246

CURRENT ASSETS

Stocks

3,500

1,000

Debtors

12,305

8,350

Cash at bank and in hand

13,737

22,842

29,542

32,192

CREDITORS

Amounts falling due within one year

33,376

28,621

NET CURRENT (LIABILITIES)/ASSETS

(3,834

)

3,571

TOTAL ASSETS LESS CURRENT LIABILITIES

7,089

20,817

CREDITORS

Amounts falling due after more than one year

-

6,428

NET ASSETS

7,089

14,389

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

7,087

14,387

SHAREHOLDERS' FUNDS

7,089

14,389

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 28 April 2017 and were signed by:

Mr A J Kelly - Director

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

18,500

AMORTISATION

At 1 December 2015

7,092

Amortisation for year

3,700

At 30 November 2016

10,792

NET BOOK VALUE

At 30 November 2016

7,708

At 30 November 2015

11,408

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

10,753

DEPRECIATION

At 1 December 2015

4,915

Charge for year

2,623

At 30 November 2016

7,538

NET BOOK VALUE

At 30 November 2016

3,215

At 30 November 2015

5,838

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/16

30/11/15

value:

£

£

2

Ordinary

£1

2

2