For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
Scotland
Registered Number: SC358084
Ace Trade Cars Limited
For the year ended 31 March 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Ace Trade Cars Limited
Accountants' Report
For the year ended 31 March 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
|
ended
31
March
2016
and you consider that the company is exempt from an audit under the Companies Act
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you
|
to fulfil your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
Steven Gough - ACPA
SG Accountants Limited
150A Preston Old Road
Blackpool
Lancashire
FY3 9QP
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Notes to the Abbreviated Financial Statements
|
Ace Trade Cars Limited
For the year ended 31 March 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Computer Equipment
Fixtures and Fittings
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
27,962
900
28,862
1,810
1,810
27,052
26,152
3 of 4
Notes to the Abbreviated Financial Statements
|
Ace Trade Cars Limited
For the year ended 31 March 2016
1
,
000
Class A shares of £
1
.
00
each
|
Allotted called up and fully paid
|
2016
2015
100
Class A shares of £
1
.
00
each
|
100
100
100
100
4 of 4