Exeter Car Warehouse Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09074214 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

EXETER CAR WAREHOUSE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P L Samuel

Miss L J Samuel

REGISTERED OFFICE:

The Warehouse

Cowley Bridge Road

Exeter

Devon

EX4 5AD

REGISTERED NUMBER:

09074214 (England and Wales)

ACCOUNTANTS:

Bush & Co Limited

2 Barnfield Crescent

Exeter

Devon

EX1 1QT

FIXED ASSETS

Tangible assets

5

1,346

-

CURRENT ASSETS

Stocks

6

84,228

79,023

Debtors

7

7,685

-

91,913

79,023

CREDITORS

Amounts falling due within one year

8

91,998

78,047

NET CURRENT (LIABILITIES)/ASSETS

(85

)

976

TOTAL ASSETS LESS CURRENT LIABILITIES

1,261

976

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,161

876

SHAREHOLDERS' FUNDS

1,261

976

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss has not been delivered.

The financial statements were approved by the Board of Directors on 21 April 2018 and were signed on its behalf by:

P L Samuel - Director

1.	STATUTORY INFORMATION

Exeter Car Warehouse 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 & fittings

-

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 Profit & Loss,

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& fittings

equipment

Totals

£

£

£

COST

Additions

560

1,235

1,795

At 31 July 2017

560

1,235

1,795

DEPRECIATION

Charge for year

140

309

449

At 31 July 2017

140

309

449

NET BOOK VALUE

At 31 July 2017

420

926

1,346

6.

STOCKS

2017

2016

£

£

Stocks

84,228

79,023

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

7,685

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

2,289

-

Trade creditors

2,010

-

Taxation and social security

2,968

276

Other creditors

84,731

77,771

91,998

78,047

9.	OFF-BALANCE SHEET COMMITMENT

The company has operating lease commitments in respect of rent totalling £12,000 over the next 2

years.

10.	RELATED PARTY DISCLOSURES

Miss L J Samuel

A director of the company

Dividends totalling £4,500 were voted to the director in the year.

2017

2016

£

£

Amount due from/(to) related party at the balance sheet date

30,732

(24,900

)

11.	FIRST YEAR ADOPTION

At the date of transition, 1 August 2015, no changes were made to any balances in the financial

statements.