ACCOUNTS - Final Accounts preparation
ACCOUNTS - Final Accounts preparation
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Registered number:
UNAUDITED
FOR THE YEAR ENDED 31 DECEMBER 2016
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HOLLIS MOTORS LIMITED
COMPANY INFORMATION
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HOLLIS MOTORS LIMITED
CONTENTS
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HOLLIS MOTORS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2016
The directors present their report and the financial statements for the year ended 31 December 2016.
The directors who served during the year were:
This report was approved by the board and signed on its behalf.
Page 1
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HOLLIS MOTORS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HOLLIS MOTORS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hollis Motors Limited for the year ended 31 December 2016 which comprise the Profit and loss account, the Balance sheet and the related notes from the Company accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Hollis Motors 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 financial statements of Hollis Motors Limited and state those matters that we have agreed to state to the Board of Directors of Hollis Motors Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hollis Motors Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Hollis Motors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Hollis Motors Limited. You consider that Hollis Motors Limited is exempt from the statutory audit requirement for the year.
Chartered Accountants
71 New Dover Road
Kent
CT1 3DZ
Page 2
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HOLLIS MOTORS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
Page 3
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HOLLIS MOTORS LIMITED
REGISTERED NUMBER: 00718154
BALANCE SHEET
AS AT 31 DECEMBER 2016
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 5 to 7 form part of these financial statements.
Page 4
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HOLLIS MOTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
Hollis Motors Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
No judgements have been made in the process of applying the above accounting policies that have had a significant effect on the amounts recognised in the financial statements.
Page 5
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HOLLIS MOTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
Profit and loss account
As at 1st January 2016 and 31st December 2016 the balance of the Profit and Loss Account is £915.
W & G Hollis Limited is regarded by the directors as being the company's ultimate parent company.
The ultimate controlling party is J W Hollis.
Page 6
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HOLLIS MOTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
Page 7
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