REGISTERED NUMBER: 04023976 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2012

FOR

Banbury Motor Spares Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M Berry

REGISTERED OFFICE:

Unit 2-4 Thorpe Mead

Thorpe Way Industrial Estate

Banbury

Oxfordshire

OX16 4RZ

REGISTERED NUMBER:

04023976 (England and Wales)

ACCOUNTANTS:

Connolly Accountants & Business Advisors LLP

Chartered Certified Accountants

58a High Street

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1AQ

FIXED ASSETS

Tangible assets

2

18,797

22,091

CURRENT ASSETS

Stocks

50,609

63,108

Debtors

2,599

4,776

Cash at bank and in hand

4,671

1,031

57,879

68,915

CREDITORS

Amounts falling due within one year

109,265

88,897

NET CURRENT LIABILITIES

(51,386

)

(19,982

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(32,589

)

2,109

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(32,591

)

2,107

SHAREHOLDERS' FUNDS

(32,589

)

2,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2012.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2012 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 8 July 2013 and were signed by:

M Berry - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 15 years

Plant and machinery

-

25% on cost

Motor vehicles

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2011

and 31 October 2012

47,007

DEPRECIATION

At 1 November 2011

24,916

Charge for year

3,294

At 31 October 2012

28,210

NET BOOK VALUE

At 31 October 2012

18,797

At 31 October 2011

22,091

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2012

2011

value:

£

£

2

Ordinary Shares

£1

2

2

4.	GOING CONCERN

There was a net deficiency of assets of £32,589 at the balance sheet date, however the director has confirmed

continued support and considers that the company retains sufficient working capital to continue trading for the

foreseeable future.