Company Registration No. 08165768 (England and Wales)
EMBASSY CARS (UK) LIMITED
Abbreviated unaudited accounts
for the year ended 31 August 2016
EMBASSY CARS (UK) LIMITED
Abbreviated Balance Sheet
as at 31 August 2016
Intangible assets
14,030
14,030
Tangible assets
123,558
95,511
Cash at bank and in hand
49,592
58,136
Creditors: amounts falling due within one year
(146,027)
(143,242)
Net current liabilities
(82,319)
(72,519)
Total assets less current liabilities
55,269
37,022
Creditors: amounts falling due after more than one year
(32,143)
(11,880)
Called up share capital
100
100
Profit and loss account
23,026
25,042
Total shareholders' funds
23,126
25,142
For the year ending 31 August 2016 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 20 May 2017
Mr Mohammad YASIN
Director
Company Registration No. 08165768
EMBASSY CARS (UK) LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 August 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
10% Straight line
Fixtures & fittings
10% Straight line
Computer equipment
10% Straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets (including purchased goodwill and patents) are not amortised. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
At 1 September 2015
14,030
EMBASSY CARS (UK) LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 August 2016
At 1 September 2015
120,730
At 1 September 2015
25,219
Charge for the year
16,753
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
