REGISTERED NUMBER:
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Abbreviated Accounts |
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for the Year Ended 31 October 2015 |
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for |
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SIMON PALMER LIMITED |
REGISTERED NUMBER:
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Abbreviated Accounts |
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for the Year Ended 31 October 2015 |
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for |
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SIMON PALMER LIMITED |
SIMON PALMER LIMITED (REGISTERED NUMBER: 05594621) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 October 2015 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
SIMON PALMER LIMITED |
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Company Information |
for the Year Ended 31 October 2015 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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SIMON PALMER LIMITED (REGISTERED NUMBER: 05594621) |
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Abbreviated Balance Sheet |
31 October 2015 |
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31.10.15 | 31.10.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his 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. |
SIMON PALMER LIMITED (REGISTERED NUMBER: 05594621) |
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Abbreviated Balance Sheet - continued |
31 October 2015 |
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The financial statements were approved by the director on
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SIMON PALMER LIMITED (REGISTERED NUMBER: 05594621) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 October 2015 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been drawn up on a going concern basis notwithstanding the losses made |
during the year. The director considers that the company has the funds available to meet it's liabilities as |
they fall due and that the going concern basis of preparing the financial statements remains appropriate. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with |
the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents net invoiced sales of used cars, excluding value added tax, and are recognised in the |
month to which they relate. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stock of used cars is valued at the lower of cost and net realisable value. |
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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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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 November 2014 |
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Additions |
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At 31 October 2015 |
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DEPRECIATION |
At 1 November 2014 |
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Charge for year |
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At 31 October 2015 |
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NET BOOK VALUE |
At 31 October 2015 |
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At 31 October 2014 |
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SIMON PALMER LIMITED (REGISTERED NUMBER: 05594621) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 October 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.15 | 31.10.14 |
value: | £ | £ |
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Ordinary | £1 |
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4. | RELATED PARTY DISCLOSURES |
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The company was under the control of the director during the period. |
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Amounts owing to the director at 31 October 2015 totalled £119,335 (2014 - £113,761). |
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During the year the company received £16,205 for garage rental and services provided to A.C.C Wheels |
a business in which the director is a 50% partner. |