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N & N Autoworld Limited |
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Financial Statements |
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for the Year Ended 30th November 2017 |
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REGISTERED NUMBER:
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N & N Autoworld Limited |
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Financial Statements |
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for the Year Ended 30th November 2017 |
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N & N Autoworld Limited (Registered number: 05902593) |
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Contents of the Financial Statements |
for the Year Ended 30th November 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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N & N Autoworld Limited |
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Company Information |
for the Year Ended 30th November 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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N & N Autoworld Limited (Registered number: 05902593) |
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Balance Sheet |
30th November 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
N & N Autoworld Limited (Registered number: 05902593) |
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Balance Sheet - continued |
30th November 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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N & N Autoworld Limited (Registered number: 05902593) |
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Notes to the Financial Statements |
for the Year Ended 30th November 2017 |
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1. | STATUTORY INFORMATION |
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N & N Autoworld Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Plant and equipment | - |
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Fixtures, fittings and office equipment | - |
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Motor vehicles | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete |
and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
Account, except to the extent that it relates to items recognised in other comprehensive income or directly |
in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted |
or substantively enacted by the balance sheet date. |
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N & N Autoworld Limited (Registered number: 05902593) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th November 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates |
and laws that have been enacted or substantively enacted by the year end and that are expected to apply to |
the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1st December 2016 |
and 30th November 2017 |
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AMORTISATION |
At 1st December 2016 |
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Amortisation for year |
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At 30th November 2017 |
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NET BOOK VALUE |
At 30th November 2017 |
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At 30th November 2016 |
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N & N Autoworld Limited (Registered number: 05902593) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th November 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings |
and |
Plant and | office | Motor |
equipment | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1st December 2016 |
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Additions |
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Disposals |
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At 30th November 2017 |
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DEPRECIATION |
At 1st December 2016 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 30th November 2017 |
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NET BOOK VALUE |
At 30th November 2017 |
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At 30th November 2016 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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At 30th November 2017 |
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NET BOOK VALUE |
At 30th November 2017 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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N & N Autoworld Limited (Registered number: 05902593) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th November 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30th November 2017 |
and 30th November 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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