S Rafferty Car Sales Ltd - Period Ending 2016-11-30

Registration number: NI628012

S Rafferty Car Sales Ltd

Unaudited Abbreviated Accounts
 
for the Year Ended 30 November 2016

G P Boyle & Company Ltd
Old Fire Station
Cecil Street
Newry
Co. Down
BT35 6AU

S Rafferty Car Sales Ltd

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2 to 3
Notes to the Abbreviated Accounts	4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
S Rafferty Car Sales Ltd
for the Year Ended 30 November 2016

It is your duty to ensure that S Rafferty Car Sales Ltd 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 S Rafferty Car Sales Ltd. You consider that S Rafferty Car Sales Ltd 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 S Rafferty Car Sales Ltd. 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.

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

G P Boyle & Company Ltd
Old Fire Station
Cecil Street
Newry
Co. Down
BT35 6AU

10 July 2017

Page 1

S Rafferty Car Sales Ltd

(Registration number: NI628012)
Abbreviated Balance Sheet as at 30 November 2016

	Note	30 November 2016  £	30 November 2015  £
Fixed assets
Tangible assets	2	2,087	2,087
Current assets
Stocks		87,100	70,348
Debtors		4,257	5,266
Cash at bank and in hand		31,183	28,583
		122,540	104,197
Creditors: Amounts falling due within one year		(122,465)	(103,239)
Net current assets		75	958
Total assets less current liabilities		2,162	3,045
Creditors: Amounts falling due after more than one year		(750)	(1,750)
Net assets		1,412	1,295
Capital and reserves
Profit and loss account		1,412	1,295
Shareholders funds		1,412	1,295

For the year ending 30 November 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 10 July 2017 and signed on its behalf by:

.........................................
Mr Niall Rafferty
Director

The notes on page 4 form an integral part of these financial statements.
Page 2

S Rafferty Car Sales Ltd

(Registration number: NI628012)
Abbreviated Balance Sheet as at 30 November 2016

.........................................
Mr Shane Rafferty
Director

The notes on page 4 form an integral part of these financial statements.
Page 3

S Rafferty Car Sales Ltd

Notes to the Abbreviated Accounts

1

Accounting policies

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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.

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 December 2015	2,087	2,087
At 30 November 2016	2,087	2,087
Depreciation
At 30 November 2016	-	-
Net book value
At 30 November 2016	2,087	2,087
At 30 November 2015	2,087	2,087

3

Share capital

Allotted, called up and fully paid shares

	30 November 2016		30 November 2015
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2

4

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 4