N K Motors (Fast Fit) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02937427 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

N K Motors (Fast Fit) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

J K Sharma

Narinder Kumar

R K Kumar

SECRETARY:

Mrs Ravi Kumar

REGISTERED OFFICE:

2 Orient Way

Pride Park

DERBY

Derbyshire

DE24 8BY

REGISTERED NUMBER:

02937427 (England and Wales)

ACCOUNTANTS:

HSKS Greenhalgh

Chartered Accountants

18 St Christopher's Way

Pride Park

Derby

DE24 8JY

FIXED ASSETS

Tangible assets

3

299,167

298,038

CREDITORS

Amounts falling due within one year

253,421

253,530

NET CURRENT LIABILITIES

(253,421

)

(253,530

)

TOTAL ASSETS LESS CURRENT LIABILITIES

45,746

44,508

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

6

45,646

44,408

SHAREHOLDERS' FUNDS

45,746

44,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 September 2017 and were signed on its behalf by:

Narinder Kumar - Director

1.	STATUTORY INFORMATION

N K Motors (Fast Fit) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company meets its day to day working capital requirements through an overdraft facility which is

repayable on demand and a loan from a related business.

The directors consider that the company will continue to operate within the facilities currently agreed.

On this basis, the directors consider it appropriate to prepare the financial statements on the going

concern basis. The financial statements do not include any adjustments that would result from a

withdrawal of the overdraft facility by the company's bankers or the loan from the related business.

At the year end, the company has net current liabilities amounting to £253,421 (2015: £253,530). The

company continues to trade as a going concern with the ongoing financial support of the company's

bankers and related business.

Turnover

Turnover represents rents received for the year, 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.

Buildings

-

2% on cost

Plant and machinery

-

20% on reducing balance

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

408,490

Additions

4,434

At 31 December 2016

412,924

DEPRECIATION

At 1 January 2016

110,452

Charge for year

3,305

At 31 December 2016

113,757

NET BOOK VALUE

At 31 December 2016

299,167

At 31 December 2015

298,038

4.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank overdrafts

165,327

165,251

Following a change in the company's bankers in 2015, the overdraft facility became part of an offset

arrangement with a related business. As a result, no interest has been charged since this arrangement

commenced.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

6.

RESERVES

Retained

earnings

£

At 1 January 2016

44,408

Profit for the year

1,238

At 31 December 2016

45,646

7.	RELATED PARTY DISCLOSURES

N K Motors Limited

A company in which Mr N Kumar is a director and shareholder

At 31 December 2016 the company owed £79,538 (2015 - £84,706) to N K Motors Limited.

Narinder Kumar

At the year end the company owed the director Mr N Kumar £1,060 (2015 - £1,060). This was the

maximum amount outstanding during the year. The loan is interest free and there are no fixed

repayment dates.

8.	ULTIMATE CONTROLLING PARTY

9.	FIRST YEAR ADOPTION

The company has adopted Section 1A of FRS 102 for the first time in the year ended 31 December

2016 and has restated the comparative year accounts where required.

There have been no changes in the nature of the accounting policies during the transition from UK

GAAP to Section 1A of FRS 102 .

There have been no effects on the amounts included within the financial statements during the

transition from the previous UK GAAP to Section 1A of FRS 102.

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of N K Motors (Fast Fit) Limited for the year ended 31 December 2016 which

comprise the Income Statement, Abridged Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of N K Motors (Fast Fit) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of N K Motors (Fast Fit) Limited and state those matters that we have agreed to state to the Board of Directors of N K Motors (Fast Fit) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than N K Motors (Fast Fit) Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that N K Motors (Fast Fit) 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 of N K Motors (Fast Fit) Limited. You consider that N K Motors (Fast Fit) 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 financial statements of N K Motors (Fast Fit) 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 financial statements.

HSKS Greenhalgh

Chartered Accountants

18 St Christopher's Way

Pride Park

Derby

DE24 8JY

Date: .............................................