Direct Autos Servicing Limited - Period Ending 2016-10-31

Registration number: 05945296

Direct Autos Servicing Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Brothertons Accountants Ltd
2 Commercial House
Abbeymead Avenue
Gloucester
GL4 5UA

Direct Autos Servicing Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Direct Autos Servicing Limited
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Direct Autos Servicing Limited for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Direct Autos Servicing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Direct Autos Servicing Limited . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Direct Autos Servicing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Direct Autos Servicing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Direct Autos Servicing Limited. You consider that Direct Autos Servicing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Direct Autos Servicing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Brothertons Accountants Ltd
2 Commercial House
Abbeymead Avenue
Gloucester
GL4 5UA

13 June 2017

Page 1

Direct Autos Servicing Limited
(Registration number: 05945296)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					5,625			4,916
Current assets
Stocks					11,250			11,250
Debtors					24,741			17,222
Cash at bank and in hand					1,423			6,582
					37,414			35,054
Creditors: Amounts falling due within one year					(19,945)			(16,101)
Net current assets					17,469			18,953
Total assets less current liabilities					23,094			23,869
Creditors: Amounts falling due after more than one year					(23,056)			(23,056)
Net assets					38			813
Capital and reserves
Called up share capital		3			3			3
Profit and loss account					35			810
Shareholders' funds					38			813

For the year ending 31 October 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 13 June 2017 and signed on its behalf by:

.........................................
Mr Stephen Kenneth Allen
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Direct Autos Servicing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation

Asset class	Depreciation method and rate
Fixtures, Fittings, Tools and Equipment	15% Reducing Balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Direct Autos Servicing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		14,399			14,399
Additions		2,832			2,832
At 31 October 2016		17,231			17,231
Depreciation
At 1 November 2015		9,483			9,483
Charge for the year		2,123			2,123
At 31 October 2016		11,606			11,606
Net book value
At 31 October 2016		5,625			5,625
At 31 October 2015		4,916			4,916

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A Share of £1 each		2			2			2			2
Ordinary B Share of £1 each		1			1			1			1
		3			3			3			3

Page 4