Dowsetts Classic Car Co Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09862734 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 9 November 2015 to 30 November 2016

for

Dowsetts Classic Car Co Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A R Anstead

S Imber

C D Hackett

J W Grono

REGISTERED OFFICE:

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

09862734 (England and Wales)

ACCOUNTANTS:

Philip T. Chave & Co

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Tangible assets

2

57,586

CURRENT ASSETS

Stocks

32,334

Debtors

77,646

Cash at bank

6,386

116,366

CREDITORS

Amounts falling due within one year

173,021

NET CURRENT LIABILITIES

(56,655

)

TOTAL ASSETS LESS CURRENT LIABILITIES

931

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

831

SHAREHOLDERS' FUNDS

931

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 3 August 2017 and were signed on its behalf by:

S Imber - 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

71,983

At 30 November 2016

71,983

DEPRECIATION

Charge for period

14,397

At 30 November 2016

14,397

NET BOOK VALUE

At 30 November 2016

57,586

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.