Company Registration No. 07389704 (England and Wales)
EMPIRECARS BEDFORD LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
EMPIRECARS BEDFORD LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
EMPIRECARS BEDFORD LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,549
7,892
Current assets
Stocks
193,826
216,859
Debtors
18,586
15,919
Cash at bank and in hand
31,090
5,029
243,502
237,807
Creditors: amounts falling due within one year
(148,414)
(134,184)
Net current assets
95,088
103,623
Total assets less current liabilities
101,637
111,515
Creditors: amounts falling due after more than one year
(100,000)
(100,000)
1,637
11,515
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
1,635
11,513
Shareholders' funds
1,637
11,515
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 June 2015
Mr I Aftab
Director
Company Registration No. 07389704
EMPIRECARS BEDFORD LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15% reducing balance method
Computer equipment
33.33% reducing balance method
Fixtures, fittings & equipment
15% reducing balance method
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014 & at 31 March 2015
14,061
Depreciation
At 1 April 2014
6,169
Charge for the year
1,343
At 31 March 2015
7,512
Net book value
At 31 March 2015
6,549
At 31 March 2014
7,892
EMPIRECARS BEDFORD LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
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