N K Motors (Fast Fit) Limited - Accounts to registrar (filleted) - small 18.2
N K Motors (Fast Fit) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2017 |
for |
N K Motors (Fast Fit) Limited |
N K Motors (Fast Fit) Limited (Registered number: 02937427) |
Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 5 |
N K Motors (Fast Fit) Limited |
Company Information |
for the Year Ended 31 December 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
18 St Christopher's Way |
Pride Park |
Derby |
DE24 8JY |
N K Motors (Fast Fit) Limited (Registered number: 02937427) |
Abridged Balance Sheet |
31 December 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings | 6 |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on its behalf by: |
N K Motors (Fast Fit) Limited (Registered number: 02937427) |
Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
1. | STATUTORY INFORMATION |
N K Motors (Fast Fit) Limited is a |
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company meets its day to day working capital requirements through an overdraft facility which is |
repayable on demand and a loan from a related business. |
The directors consider that the company will continue to operate within the facilities currently agreed. |
On this basis, the directors consider it appropriate to prepare the financial statements on the going |
concern basis. The financial statements do not include any adjustments that would result from a |
withdrawal of the overdraft facility by the company's bankers or the loan from the related business. |
At the year end, the company has net current liabilities amounting to £256,732 (2016: £253,421). The |
company continues to trade as a going concern with the ongoing financial support of the company's |
bankers and related business. |
Turnover |
Turnover represents rents received for the year, excluding Value Added Tax. |
Tangible fixed assets |
Buildings | - |
Plant and machinery | - |
3. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2017 |
Additions |
At 31 December 2017 |
DEPRECIATION |
At 1 January 2017 |
Charge for year |
At 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
N K Motors (Fast Fit) Limited (Registered number: 02937427) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
4. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank overdrafts |
Following a change in the company's bankers in 2015, the overdraft facility became part of an offset |
arrangement with a related business. As a result, no interest has been charged since this arrangement |
commenced. |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
6. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2017 |
Profit for the year |
At 31 December 2017 |
7. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Mr N Kumar by virtue of his 52% stake in voting share capital. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
N K Motors (Fast Fit) Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
other primary statements and the Report of the Directors are not required to be filed with the |
Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
the financial statements of N K Motors (Fast Fit) Limited for the year ended 31 December 2017 which |
comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's |
accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of N K Motors (Fast Fit) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of N K Motors (Fast Fit) Limited and state those matters that we have agreed to state to the Board of Directors of N K Motors (Fast Fit) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than N K Motors (Fast Fit) Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that N K Motors (Fast Fit) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of N K Motors (Fast Fit) Limited. You consider that N K Motors (Fast Fit) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of N K Motors (Fast Fit) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
18 St Christopher's Way |
Pride Park |
Derby |
DE24 8JY |