Company Registration No. 9255307 (England and Wales)
STOCK AUTO BREAKERS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
STOCK AUTO BREAKERS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
STOCK AUTO BREAKERS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
31,904
23,647
Debtors
3,730
2,247
Cash at bank and in hand
1,315
16,292
36,949
42,186
Creditors: amounts falling due within one year
(37,663)
(40,584)
Total assets less current liabilities
(714)
1,602
Capital and reserves
Called up share capital
2
100
100
Profit and loss account
(814)
1,502
Shareholders' funds
(714)
1,602
For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have 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 15 September 2017
T Street
Director
Company Registration No. 9255307
STOCK AUTO BREAKERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 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 January 2015).
The company meets its day to day working capital requirements through the provision of a loan from the director. This support is not expected to be withdrawn and on this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.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 loan facilities.
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
Stock
Stock is valued at the lower of cost and net realisable value.
1.5
Revenue recognition
Turnover is recognised upon tra
n
sfer of goods to the customer.
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100