RS Autocare Limited Accounts

RS AUTOCARE LIMITED - Company Information






RS Autocare Limited
	Company No. 08460591
		Information for Filing with The Registrar
		31 March 2018

The Director presents his report and the accounts for the year ended 31 March 2018.

Principal activities
The principal activity of the company during the year under review was .




Director

The Director who served at any time during the year was as follows:

M. Helaith



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

M. Helaith
Director
31 March 2018

at	31 March 2018

Company No.		08460591	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		2	30,172	11,677


				30,172	11,677
Current assets
	Stocks		3	12,000	3,670
	Debtors		4	9,309	4,141

	Cash at bank and in hand			166	19,341
				21,475	27,152
Creditors: Amount falling due within one year			5	(65,981)	(38,825)
Net current liabilities				(44,506)	(11,673)
Total assets less current liabilities				(14,334)	4
Creditors: Amounts falling due after more than one year			6	(17,310)	-



Net (liabilities)/assets				(31,644)	4

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		7	(31,645)	3

Total equity				(31,644)	4


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 31 March 2018

And signed on its behalf by:

M. Helaith
Director

for the year ended 31 March 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Tangible fixed assets
			Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 April 2017	-	11,677	11,677
		Additions	14,995	3,500	18,495



		At 31 March 2018	14,995	15,177	30,172







		Net book values
		At 31 March 2018	14,995	15,177	30,172
		At 31 March 2017	-	11,677	11,677

3	Stocks
			2018	2017
			£	£

		Work in progress	12,000	3,670

			12,000	3,670

4	Debtors
			2018	2017
			£	£





		Loans to directors	5,630	3,351
		Other debtors	3,679	790

			9,309	4,141

5	Creditors:
		amounts falling due within one year
			2018	2017
			£	£

		Bank loans and overdrafts	38,179	24,581


		Trade creditors	15,247	56

		Corporation tax	-	1,703
		Other taxes and social security	8,215	9,853

		Other creditors	3,560	1,857
		Accruals and deferred income	780	775
			65,981	38,825

6	Creditors:
		amounts falling due after more than one year
			2018	2017
			£	£



		Obligations under finance lease and hire purchase contracts	17,310	-




			17,310	-

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

8	Dividends
			2018	2017
			£	£
		Dividends for the period:
		Dividends paid in the period	-	6,000

			-	6,000

		Dividends by type:

		Equity dividends	-	6,000
			-	6,000

Related party disclosures

Controlling party

Immediate controlling party

No single party controls the company.

Additional information

Its registered number is:

08460591

Its registered office is:

123 Cross Lane East

Gravesend

Kent

DA12 5HA