Zipser Motors (Nottm) Limited - Period Ending 2016-12-07

Registration number: 00442002

Zipser Motors (Nottm) Limited

Unaudited Abbreviated Accounts

for the Year Ended 7 December 2016
 

Vanilla Accounting Limited
Chartered Accountants
Byron House
21 Rectory Road
West Bridgford
Nottingham
Nottinghamshire
NG2 6BE

Zipser Motors (Nottm) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 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
Zipser Motors (Nottm) Limited
for the Year Ended 7 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Zipser Motors (Nottm) Limited for the year ended 7 December 2016 set out on pages 4 to 8 from the company's 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 Zipser Motors (Nottm) Limited, as a body, in accordance with the terms of our engagement letterdated 2 July 2015. Our work has been undertaken solely to prepare for your approval the accounts of Zipser Motors (Nottm) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Zipser Motors (Nottm) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Zipser Motors (Nottm) 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 Zipser Motors (Nottm) Limited. You consider that Zipser Motors (Nottm) 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 Zipser Motors (Nottm) 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.

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

Vanilla Accounting Limited
Chartered Accountants
Byron House
21 Rectory Road
West Bridgford
Nottingham
Nottinghamshire
NG2 6BE

6 September 2017

Page 1

Zipser Motors (Nottm) Limited
(Registration number: 00442002)
Abbreviated Balance Sheet at 7 December 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					60,462			141,712
Current assets
Cash at bank and in hand					71,157			3,727
Creditors: Amounts falling due within one year					(64,473)			(118,234)
Net current assets/(liabilities)					6,684			(114,507)
Net assets					67,146			27,205
Capital and reserves
Called up share capital		3			150			150
Profit and loss account					66,996			27,055
Shareholders' funds					67,146			27,205

For the year ending 7 December 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 6 September 2017 and signed on its behalf by:

.........................................
Mr PA Zipser
Director

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

Zipser Motors (Nottm) Limited
Notes to the Abbreviated Accounts for the Year Ended 7 December 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).

Investment properties

Certain ones of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be in appropriate. The accounting policy adopted is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only ofne of many factors reflected in the annual valuation and the amount which might othherwise have been shown cannot be separately identified or quantified.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

Page 3

Zipser Motors (Nottm) Limited
Notes to the Abbreviated Accounts for the Year Ended 7 December 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 8 December 2015		141,712			141,712
Disposals		(81,250)			(81,250)
At 7 December 2016		60,462			60,462
Depreciation
At 7 December 2016		-			-
Net book value
At 7 December 2016		60,462			60,462
At 7 December 2015		141,712			141,712

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £ 1 each		150			150			150			150

Page 4