STANIC_MOTOR_CO_LIMITED - Accounts

STANIC MOTOR CO LIMITED - Company Information

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Company Registration No. 04036644 (England and Wales)

STANIC MOTOR CO LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

STANIC MOTOR CO LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

STANIC MOTOR CO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

21,507

31,254

Current assets

Stocks

632,548

480,832

Debtors

25,842

76,915

Investments

56,956

Cash at bank and in hand

5,144

3,750

720,490

618,453

Creditors: amounts falling due within one year

(248,291)

(146,989)

Net current assets

472,199

471,464

Total assets less current liabilities

493,706

502,718

Creditors: amounts falling due after more than one year

(18,624)

493,706

484,094

Capital and reserves

Called up share capital

1,000

Profit and loss account

492,706

483,094

Shareholders' funds

493,706

484,094

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 October 2017

Mr N P Fowler

Director

Company Registration No. 04036644

STANIC MOTOR CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold property improvements

10% per annum on cost

Computer equipment

25% per annum of net book value

Fixtures, fittings and equipment

25% per annum of net book value

Motor vehicles

25% per annum of net book value

1.4

Investments

Current asset investments are stated at the lower of cost and net realisable value.

1.5

Stock

Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

STANIC MOTOR CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 October 2015

119,206

Additions

320

At 30 September 2016

119,526

Depreciation

At 1 October 2015

87,952

Charge for the year

10,067

At 30 September 2016

98,019

Net book value

At 30 September 2016

21,507

At 30 September 2015

31,254

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £79,536 (2015 - £70,570).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to nil (2015 - £18,624).

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000

STANIC MOTOR CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Transactions with directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Amount outstanding

Maximum

2016

2015

in year

Mr N P Fowler

3,246