Christie Automotive Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10292795 (England and Wales)

CHRISTIE AUTOMOTIVE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N M Christie

Mrs L J Christie

REGISTERED OFFICE:

Ware Orchard

Park Hill

Newton Abbot

Devon

TQ12 5TU

REGISTERED NUMBER:

10292795 (England and Wales)

ACCOUNTANTS:

Mark Holt & Co Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Intangible assets

5

6,600

8,800

Tangible assets

6

118

235

6,718

9,035

CURRENT ASSETS

Stocks

69,912

60,296

Debtors

-

977

Cash at bank

156

-

70,068

61,273

CREDITORS

Amounts falling due within one year

74,770

69,221

NET CURRENT LIABILITIES

(4,702

)

(7,948

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,016

1,087

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,916

987

2,016

1,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 December 2018 and were signed on its behalf by:

Mr N M Christie - Director

1.	STATUTORY INFORMATION

Christie Automotive Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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, net of discounts and value added taxes.

Turnover includes revenue earned from the sale of goods and the rendering of services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

Straight line over 3 years

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have

suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset

is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is

reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its

recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been

recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Stocks and work in progress

Stocks and Work in Progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past

reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of

deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a

fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting

date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the

transaction that resulted in the tax expense (income).

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2017

and 31 July 2018

11,000

AMORTISATION

At 1 August 2017

2,200

Amortisation for year

2,200

At 31 July 2018

4,400

NET BOOK VALUE

At 31 July 2018

6,600

At 31 July 2017

8,800

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2017

and 31 July 2018

352

DEPRECIATION

At 1 August 2017

117

Charge for year

117

At 31 July 2018

234

NET BOOK VALUE

At 31 July 2018

118

At 31 July 2017

235