Car Panels Direct Limited - Accounts to registrar (filleted) - small 17.3

Car Panels Direct Limited - Accounts to registrar (filleted) - small 17.3

CAR PANELS DIRECT LIMITED - Company Information

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REGISTERED NUMBER: 04146217 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2017

FOR

CAR PANELS DIRECT LIMITED









CAR PANELS DIRECT LIMITED (REGISTERED NUMBER: 04146217)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CAR PANELS DIRECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2017







DIRECTORS: A P Patel
A Patel



SECRETARY: M C Patel



REGISTERED OFFICE: Unit C2
Tamian Way
Hounslow
Middlesex
TW4 6BL



REGISTERED NUMBER: 04146217 (England and Wales)



BANKERS: National Westminster Bank Plc
P O Box 4QQ
19 Shaftesbury Avenue
LONDON
W1A 4QQ
Page 1
CAR PANELS DIRECT LIMITED (REGISTERED NUMBER: 04146217)

ABRIDGED BALANCE SHEET
31ST JANUARY 2017

2017 2016
Notes £    £   
FIXED ASSETS
Tangible assets 4 15,476 22,780

CURRENT ASSETS
Stocks 293,023 271,579
Debtors 232,658 184,698
Cash at bank and in hand 102,525 195,889
628,206 652,166
CREDITORS
Amounts falling due within one year (161,601 ) (189,845 )
NET CURRENT ASSETS 466,605 462,321
TOTAL ASSETS LESS CURRENT
LIABILITIES
482,081
485,101

PROVISIONS FOR LIABILITIES (3,095 ) (4,556 )
NET ASSETS 478,986 480,545

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 478,886 480,445
SHAREHOLDERS' FUNDS 478,986 480,545

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2017 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 notes form part of these financial statements

Page 2 continued...
CAR PANELS DIRECT LIMITED (REGISTERED NUMBER: 04146217)

ABRIDGED BALANCE SHEET - continued
31ST JANUARY 2017


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 Income Statement and an abridged Balance Sheet for the year ended 31st January 2017 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 29th November 2017 and were signed on its
behalf by:




A P Patel - Director



A Patel - Director


The notes form part of these financial statements

Page 3
CAR PANELS DIRECT LIMITED (REGISTERED NUMBER: 04146217)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2017

1. STATUTORY INFORMATION

Car Panels Direct 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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

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 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 10 .

Page 4 continued...
CAR PANELS DIRECT LIMITED (REGISTERED NUMBER: 04146217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2017

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st February 2016 65,512
Disposals (12,045 )
At 31st January 2017 53,467
DEPRECIATION
At 1st February 2016 42,732
Charge for year 5,160
Eliminated on disposal (9,901 )
At 31st January 2017 37,991
NET BOOK VALUE
At 31st January 2017 15,476
At 31st January 2016 22,780

Page 5