Owen's Car & Commercial Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06319423 (England and Wales)

OWEN'S CAR & COMMERCIAL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

Mr G Owen

SECRETARY:

Mrs D.M. Owen

REGISTERED OFFICE:

27 Church Lane

Temple Normanton

Chesterfield

Derbyshire

S42 5DB

REGISTERED NUMBER:

06319423 (England and Wales)

ACCOUNTANTS:

The Rees Partnership

Bentley Bridge House

Chesterfield Road

Matlock

Derbyshire

DE4 5LE

BANKERS:

National Westminster Bank Plc

1 Water Lane

Bakewell

Derbyshire

DE4 3LZ

FIXED ASSETS

Tangible assets

4

3,042

4,057

CURRENT ASSETS

Stocks

375

290

Debtors

17,697

12,232

Cash at bank and in hand

41,997

38,596

60,069

51,118

CREDITORS

Amounts falling due within one year

(39,141

)

(32,794

)

NET CURRENT ASSETS

20,928

18,324

TOTAL ASSETS LESS CURRENT LIABILITIES

23,970

22,381

PROVISIONS FOR LIABILITIES

5

-

(552

)

NET ASSETS

23,970

21,829

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

23,870

21,729

SHAREHOLDERS' FUNDS

23,970

21,829

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.

The financial statements were approved by the director on 16 October 2017 and were signed by:

Mr G Owen - Director

1.	STATUTORY INFORMATION

Owen's Car & Commercial 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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

15,695

DEPRECIATION

At 1 April 2016

11,638

Charge for year

1,015

At 31 March 2017

12,653

NET BOOK VALUE

At 31 March 2017

3,042

At 31 March 2016

4,057

5.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

-

552

Deferred

tax

£

Balance at 1 April 2016

552

Accelerated capital allowances

(552

)

Balance at 31 March 2017

-

6.	RELATED PARTY DISCLOSURES

Except as stated below there have been no material transactions with any related parties, including

directors.

During the year dividends of £5,000 have been paid to Mr G. Owen the sole director.

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, by virtue of their shareholdings.