Forge Car Sales Limited,Ltd - AccountsLtd - Accounts

Forge Car Sales Limited,Ltd - AccountsLtd - Accounts

FORGE CAR SALES LIMITED - Company Information

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2016-04-01 06527793 2017-03-31 06527793 2016-04-01 2017-03-31 06527793 2016-03-31 06527793 2015-04-01 2016-03-31 06527793 uk-core:WithinOneYear 2016-03-31 06527793 uk-core:WithinOneYear 2017-03-31 06527793 uk-core:ShareCapital 2017-03-31 06527793 uk-core:ShareCapital 2016-03-31 06527793 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 06527793 uk-core:RetainedEarningsAccumulatedLosses 2016-03-31 06527793 uk-bus:Director1 2016-04-01 2017-03-31 iso4217:GBP 06527793 uk-bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 06527793 uk-bus:FRS102 2016-04-01 2017-03-31 06527793 uk-bus:FullAccounts 2016-04-01 2017-03-31 06527793 uk-bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31
Forge Car Sales Limited
Registered Number:06527793
For the year ended 31 March 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2017
Forge Car Sales Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 March 2017
Forge Car Sales Limited
Statement of Financial Position
Registered Number :
06527793
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
1,675
159
2
1,675
159
Current assets
Inventories
34,220
39,416
Trade and other receivables
3,203
12,146
3
9,158
Cash and cash equivalents
10,220
61,782
46,581
Trade and other payables: amounts falling due within one
year
(5,441)
(4,986)
4
41,140
56,796
Net current assets
Total assets less current liabilities
58,471
41,299
58,471
Net assets
41,299
Capital and reserves
Called up share capital
2
2
Retained earnings
58,469
41,297
58,471
41,299
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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.
G L Wedlake Director
These financial statements were approved and authorised for issue by the Board on 10 November 2017 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 March 2017
Forge Car Sales Limited
Notes to the Financial Statements
Statutory Information
Forge Car Sales Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 06527793.
Registered address:
53 Greenleaze
Bristol
BS4 2TL
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:Plant&Machinery 25% reducing balance.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2. Property, plant and equipment
Plant and
machinery
£
Cost or
valuation
At 01 April 2016
1,392
2,075
Additions
At 31 March 2017
3,467
Provision for depreciation and impairment
At 01 April 2016
1,233
Charge for year
559
At 31 March 2017
1,792
At 31 March 2017
Net book value
1,675
At 31 March 2016
159
2 of 3
5
For the year ended 31 March 2017
Forge Car Sales Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2016
2017
£
£
Trade debtors
9,250
-
Other debtors
2,896
3,203
3,203
12,146
4. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Taxation and social security
3,942
4,244
Other creditors
1,044
1,197
4,986
5,441
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