Registered Number 06618075

1ST CHOICE CAR SPARES LIMITED

Abbreviated Accounts

30 June 2014

1ST CHOICE CAR SPARES LIMITED Registered Number 06618075

Abbreviated Balance Sheet as at 30 June 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 200,216 143,607
200,216 143,607
Current assets
Stocks 37,178 37,178
Debtors 21,024 22,905
Cash at bank and in hand 15,756 24,809
73,958 84,892
Creditors: amounts falling due within one year (101,543) (120,396)
Net current assets (liabilities) (27,585) (35,504)
Total assets less current liabilities 172,631 108,103
Total net assets (liabilities) 172,631 108,103
Capital and reserves
Called up share capital 3 4 4
Profit and loss account 172,627 108,099
Shareholders' funds 172,631 108,103
  • For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 March 2015

And signed on their behalf by:
Mr I Mirza, Director

1ST CHOICE CAR SPARES LIMITED Registered Number 06618075

Notes to the Abbreviated Accounts for the period ended 30 June 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable, net of Value added tax, in respect of sales of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold land and buildings 2% straight line. Plant, Machinery, Motor Vehicles, Fixtures and Office equipment 20% straight line basis

Valuation information and policy
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

2Tangible fixed assets
£
Cost
At 1 July 2013 170,623
Additions 73,128
Disposals -
Revaluations -
Transfers -
At 30 June 2014 243,751
Depreciation
At 1 July 2013 27,016
Charge for the year 16,519
On disposals -
At 30 June 2014 43,535
Net book values
At 30 June 2014 200,216
At 30 June 2013 143,607
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
1 Ordinary share of £1 each 1 1
3 B Ordinary shares of £1 each 3 3