Abbreviated Company Accounts - FOLEY & MILES AUTO ELECTRICS LIMITED

FOLEY & MILES AUTO ELECTRICS LIMITED - Company Information

07720756 FOLEY & MILES AUTO ELECTRICS LIMITED 2016-09-30 false 2015-10-01 2016-09-30 true 07720756 2015-10-01 2016-09-30 07720756 2016-09-30 07720756 2015-09-30 07720756 uk-gaap-cd-bus:Director1 2015-10-01 2016-09-30 07720756 uk-gaap-cd-bus:Director2 2015-10-01 2016-09-30 uk-gaap-cd-bus:Director3 2015-10-01 2016-09-30 uk-gaap-cd-bus:Director3 2016-09-30 uk-gaap-cd-bus:Director3 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-01 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 iso4217:GBP shares

Registered Number 07720756

FOLEY & MILES AUTO ELECTRICS LIMITED

Abbreviated Accounts

30 September 2016

FOLEY & MILES AUTO ELECTRICS LIMITED Registered Number 07720756

Abbreviated Balance Sheet as at 30 September 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets	2	3,223	3,792
Investments		-	-
		3,223	3,792
Current assets
Stocks		-	-
Debtors		199,021	137,933
Investments		-	-
Cash at bank and in hand		139	7,411
		199,160	145,344
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(327,634)	(360,762)
Net current assets (liabilities)		(128,474)	(215,418)
Total assets less current liabilities		(125,251)	(211,626)
Creditors: amounts falling due after more than one year		0	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		(125,251)	(211,626)
Capital and reserves
Called up share capital	3	4,000	4,000
Share premium account		0	0
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		(129,251)	(215,626)
Shareholders' funds		(125,251)	(211,626)

For the year ending 30 September 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 28 June 2017

And signed on their behalf by:
S I Brittle, Director

FOLEY & MILES AUTO ELECTRICS LIMITED Registered Number 07720756

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when goods are despatched, which is the same day as goods are delivered and hence is the point at which the risks and rewards of ownership pass to the buyer. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for the services provided.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 15% per annum on reducing balance

Valuation information and policy
Going concern
At 30 September 2015 the company had an excess of liabilities over assets totalling £125,251. The company is dependent upon the future financial support of its directors and their associated business for continued financial support and on the basis that this support is forthcoming, the directors also consider it appropriate for the financial statements to be prepared on the going concern basis.

2Tangible fixed assets

	£
Cost
At 1 October 2015	6,675
Additions	0
Disposals	0
Revaluations	0
Transfers	0
At 30 September 2016	6,675
Depreciation
At 1 October 2015	2,883
Charge for the year	569
On disposals	0
At 30 September 2016	3,452
Net book values
At 30 September 2016	3,223
At 30 September 2015	3,792

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
4,000 Ordinary shares of £1 each	4,000	4,000

4Transactions with directors

Name of director receiving advance or credit:	N A Rossiter
Description of the transaction:	Director's loan account
Balance at 1 October 2015:	£ 1,427
Advances or credits made:	£ 0
Advances or credits repaid:	£ 1,427
Balance at 30 September 2016:	£ 0

The maximum amount owed to the company in the year was £1,427.