Rye Motors Limited - Period Ending 2017-07-31

RYE MOTORS LIMITED - Company Information

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Registration number: 06896373

Rye Motors Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2017

Stubbs Parkin
Chartered Accountants
55 Hoghton Street
Southport
Merseyside
PR9 0PG

Rye Motors Limited

Contents


Balance Sheet	1

Notes to the Financial Statements	2 to 3

Rye Motors Limited

(Registration number: 06896373)
Balance Sheet as at 31 July 2017

	Note	2017 £		2016 £

Current assets
Cash at bank and in hand			2		2
Capital and reserves
Called up share capital		2		2
Total equity			2		2

For the financial year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 May 2018 and signed on its behalf by:

.........................................

Mr D L Turner-Laurent

Director

The notes on pages 2 to 3 form an integral part of these financial statements.

Page 1

Rye Motors Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
REDGATE ROAD
S.LANCS INDUSTRIAL ESTATE
BRYN WIGAN
LANCASHIRE
WN4 8DT

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

4	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

Page 2

Rye Motors Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

5	Related party transactions

6	Transition to FRS 102

These are the company's first financial statements under FRS 102 Section 1A. The company's date of transition was 31st July 2016, with the financial statements for the year ended 1st August 2016 being the last financial statements prepared under the previous accounting framework.

The policies applied under the company's previous accounting framework are not materially different to FRS102 Section 1A and have not impacted on equity or profit and loss.

Page 3