Classic Restorations (Spares) Limited Company Accounts

CLASSIC RESTORATIONS (SPARES) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04232090

Classic Restorations (Spares) Limited

Filleted Unaudited Financial Statements

30 June 2017

Classic Restorations (Spares) Limited

Financial Statements

Year ended 30 June 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Classic Restorations (Spares) Limited

Statement of Financial Position

30 June 2017

		2017		2016
Note		£	£	£
Creditors: amounts falling due within one year	4	461		448
		----		----
Net current liabilities			461	448
			----	----
Total assets less current liabilities			( 461)	( 448)
			----	----

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 561)	( 548)
	----	----
Shareholders deficit	( 461)	( 448)
	----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 22 March 2018 , and are signed on behalf of the board by:

Mr W B Kennedy
Director

Company registration number: 04232090

Classic Restorations (Spares) Limited

Notes to the Financial Statements

Year ended 30 June 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Creditors: amounts falling due within one year

	2017	2016
	£	£
Other creditors	461	448
	----	----

5. Related party transactions

W B Kennedy is the managing director and only shareholder, he is also the managing director and sole shareholder of Classic Restorations (Sales) Limited. The balance due to this company was £363 (2016 - £363) at the balance sheet date.

6. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.

No transitional adjustments were required in equity or profit or loss for the year.