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THE CAR EMPIRE LIMITED - Company Information

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The Car Empire Limited

Registered Number:08956675

For the year ended 31 December 2017

England and Wales

Unaudited Financial Statements

As at 31 December 2017

The Car Empire Limited

Statement of Financial Position

Registered Number :

08956675

2016

2017

Notes

Fixed assets

Property, plant and equipment

99,986

107,152

99,986

107,152

Current assets

Inventories

1,270,004

1,616,720

Trade and other receivables

112,844

188,634

144,224

Cash and cash equivalents

77,872

1,883,226

1,527,072

Trade and other payables: amounts falling due within one

year

(1,465,504)

(1,662,832)

61,568

220,394

Net current assets

Total assets less current liabilities

320,380

168,720

320,380

Net assets

168,720

Capital and reserves

Called up share capital

1,000

Retained earnings

319,380

167,720

320,380

168,720

Shareholders' funds

For the year ended 31 December 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 December 2017 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their 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.

HUSSAIN, Ifzal Director

These financial statements were approved and authorised for issue by the Board on 09 February 2018 and were signed by:

The notes form part of these financial statements

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For the year ended 31 December 2017

The Car Empire Limited

Notes to the Financial Statements

Statutory Information

The Car Empire Limited is a private limited company, limited by shares, domiciled in England and Wales, registration

number 08956675.

Registered address:

Carnation House

Mill Lane

Bradford

BD5 0HF

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:

25% Reducing balance

Computer equipment

25% Reducing balance

Fixtures and fittings

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

Total

Computer

equipment

Fixtures and

fittings

Plant and

machinery

Cost or

valuation

At 01 January 2017

114,910

9,730

21,230

83,950

At 31 December 2017

83,950

21,230

9,730

114,910

Provision for depreciation and impairment

At 01 January 2017

7,758

778

1,730

5,250

Charge for year

7,166

666

1,650

4,850

At 31 December 2017

14,924

1,444

3,380

10,100

At 31 December 2017

Net book value

73,850

17,850

8,286

99,986

At 31 December 2016

78,700

19,500

8,952

107,152

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For the year ended 31 December 2017

The Car Empire Limited

Notes to the Financial Statements Continued

3. Inventories

2016

2017

Stocks

1,616,720

1,270,004

4. Trade and other receivables

2016

2017

Trade debtors

160,825

112,844

Other debtors

27,809

112,844

188,634

5. Trade and other payables: amounts falling due within one year

2016

2017

Bank loans and overdraft (secured)

431,666

Trade creditors

154,983

18,708

Taxation and social security

12,879

18,383

Other creditors

1,063,304

1,428,413

1,662,832

1,465,504

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