Company Registration No. 03433258 (England and Wales)
WARMANS MOTOR COMPANY LIMITED
Unaudited accounts
for the year ended 31 March 2017
WARMANS MOTOR COMPANY LIMITED
Unaudited accounts
Contents
WARMANS MOTOR COMPANY LIMITED
Company Information
for the year ended 31 March 2017
Director
Nathan Mark Warman
Company Number
03433258 (England and Wales)
Registered Office
890 GARRATT LANE
LONDON
SW17 0NB
Accountants
RK Taxation Services
890 Garratt Lane
London
SW17 0NB
WARMANS MOTOR COMPANY LIMITED
Statement of financial position
as at 31 March 2017
Inventories
133,060
171,067
Cash at bank and in hand
16,896
12,175
Creditors: amounts falling due within one year
(108,225)
(138,415)
Net current assets
41,731
44,827
Total assets less current liabilities
41,731
45,196
Creditors: amounts falling due after more than one year
(40,737)
(44,447)
Called up share capital
2
2
Profit and loss account
992
747
Shareholders' funds
994
749
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 15 December 2017.
Nathan Mark Warman
Director
Company Registration No. 03433258
WARMANS MOTOR COMPANY LIMITED
Notes to the Accounts
for the year ended 31 March 2017
WARMANS MOTOR COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03433258. The registered office is 890 GARRATT LANE, LONDON, SW17 0NB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on cost
Fixtures & fittings
25% on cost
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
WARMANS MOTOR COMPANY LIMITED
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Plant & machinery
Finished goods
133,060
171,067
6
Creditors: amounts falling due within one year
2017
2016
Trade creditors
3,000
3,220
Taxes and social security
13,986
17,736
Other creditors
54,363
80,583
Loans from directors
36,876
36,876
7
Creditors: amounts falling due after more than one year
2017
2016
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan
(36,876)
-
-
(36,876)
The advances and credits to directors subsisted during the period ended 31 March 2016 and the year ended 31 March 2015.
9
Average number of employees
During the year the average number of employees was 2 (2016: 1).