Aba Cars Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 6943794

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		3,351		4,359

			3,351		4,359
CURRENT ASSETS
Debtors	3	5,886		5,421
Cash at bank and in hand		9,596		3,285

		15,482		8,706
Creditors: Amounts Falling Due Within One Year	4	(14,135 )		(12,871 )

NET CURRENT ASSETS (LIABILITIES)			1,347		(4,165 )

TOTAL ASSETS LESS CURRENT LIABILITIES			4,698		194

NET ASSETS			4,698		194

CAPITAL AND RESERVES
Called up share capital	5		4		4
Profit and Loss Account			4,694		190

SHAREHOLDERS' FUNDS			4,698		194

Page 1

Aba Cars Limited

Balance Sheet (continued)

As at 30 June 2017

For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Sami Momani

16 March 2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	20% reducing balance
Computer Equipment	33% on cost

Page 3

Aba Cars Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 30 June 2017

2. Tangible Assets


	Motor Vehicles	Computer Equipment	Total
	£	£	£
Cost
As at 1 July 2016	10,100	1,282	11,382

As at 30 June 2017	10,100	1,282	11,382

Depreciation
As at 1 July 2016	6,790	233	7,023
Provided during the period	662	346	1,008

As at 30 June 2017	7,452	579	8,031

Net Book Value
As at 30 June 2017	2,648	703	3,351

As at 1 July 2016	3,310	1,049	4,359

3. Debtors

	2017	2016
	£	£
Due within one year
Other debtors	805	-
Directors' loan accounts	5,081	5,421

	5,886	5,421

4. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Trade creditors	-	259
Corporation tax	7,487	5,063
Other taxes and social security	164	475
VAT	6,034	6,228
Accruals and deferred income	450	846

	14,135	12,871

Page 4

Aba Cars Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 30 June 2017

5. Share Capital

	Value	Number	2017	2016
Allotted, called up and fully paid	£		£	£
Ordinary shares	1	4	4	4

6. General Information

Aba Cars Limited is a private company, limited by shares, incorporated in England & Wales, registered number 6943794. The registered office is 4 Shenley Road, Borehamwood, Herts, WD6 1DL.

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