HARROW MOTORS ENTERPRISE LIMITED - Limited company accounts 16.3

REGISTERED NUMBER: 09973598 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 January 2017

for

HARROW MOTORS ENTERPRISE LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

M KARA BERNOU

SECRETARY:

REGISTERED OFFICE:

1 CUMBERLAND COURT

PRINCES DRIVE

LONDON

London

HA1 4UD

REGISTERED NUMBER:

09973598 (England and Wales)

ACCOUNTANTS:

Qazi and co

1-3 JEWEL ROAD

WALTHAMSTOW

London

E17 4QX

The director presents his report with the financial statements of the company for the year ended 31 January 2017.

INCORPORATION

The company was incorporated on 1 February 2016 and commenced trading on the same date.

DIRECTOR

M KARA BERNOU held office during the whole of the period from 1 February 2016 to the date of this report.

The director, being eligible, offers himself for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

M KARA BERNOU - Director

26 October 2017

TURNOVER

75,996

Cost of sales

30,231

GROSS PROFIT

45,765

Distribution costs

15,600

Administrative expenses

23,346

38,946

OPERATING PROFIT and

PROFIT BEFORE TAXATION

4

6,819

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

6,819

FIXED ASSETS

Tangible assets

5

7,060

CURRENT ASSETS

Stocks

25,918

Debtors

6

13,912

Cash at bank

7,018

46,848

CREDITORS

Amounts falling due within one year

7

19,156

NET CURRENT ASSETS

27,692

TOTAL ASSETS LESS CURRENT LIABILITIES

34,752

CREDITORS

Amounts falling due after more than one year

8

(24,391

)

ACCRUALS AND DEFERRED INCOME

(3,541

)

NET ASSETS

6,820

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

6,819

6,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26 October 2017 and were signed by:

M KARA BERNOU - Director

1.	STATUTORY INFORMATION

HARROW MOTORS ENTERPRISE 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted

or substantively enacted by the balance sheet date.

Deferred tax

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was XXX.

**PLEASE COMPLETE CLIENT SCREEN WITH DETAILS

4.	OPERATING PROFIT

The operating profit is stated after charging:

£

Depreciation - owned assets

1,765

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2016

and 31 January 2017

8,825

DEPRECIATION

Charge for year

1,765

At 31 January 2017

1,765

NET BOOK VALUE

At 31 January 2017

7,060

At 31 January 2016

8,825

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

13,912

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

19,156

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Trade creditors

24,391