REGISTERED NUMBER: 06620015 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017

FOR

ABC CARS (ESSEX) LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTOR:

M R Browne

REGISTERED OFFICE:

2nd Floor, Romy House

163-167 Kings Road

Brentwood

Essex

CM14 4EG

REGISTERED NUMBER:

06620015 (England and Wales)

ACCOUNTANTS:

Marriotts Associates

2nd Floor, Romy House

163-167 Kings Road

Brentwood

Essex

CM14 4EG

FIXED ASSETS

Intangible assets

4

1,668

2,780

Tangible assets

5

5,950

7,137

7,618

9,917

CURRENT ASSETS

Debtors

6

88,685

35,858

Cash in hand

-

72

88,685

35,930

CREDITORS

Amounts falling due within one year

7

47,174

36,677

NET CURRENT ASSETS/(LIABILITIES)

41,511

(747

)

TOTAL ASSETS LESS CURRENT LIABILITIES

49,129

9,170

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

49,029

9,070

SHAREHOLDERS' FUNDS

49,129

9,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director on 28 February 2018 and were signed by:

M R Browne - Director

1.	STATUTORY INFORMATION

ABC Cars (Essex) Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

11,584

AMORTISATION

At 1 May 2016

8,804

Charge for year

1,112

At 30 April 2017

9,916

NET BOOK VALUE

At 30 April 2017

1,668

At 30 April 2016

2,780

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 May 2016

500

13,722

14,222

Additions

-

1,500

1,500

Disposals

-

(1,250

)

(1,250

)

At 30 April 2017

500

13,972

14,472

DEPRECIATION

At 1 May 2016

433

6,652

7,085

Charge for year

17

2,143

2,160

Eliminated on disposal

-

(723

)

(723

)

At 30 April 2017

450

8,072

8,522

NET BOOK VALUE

At 30 April 2017

50

5,900

5,950

At 30 April 2016

67

7,070

7,137

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,029

3,940

Other debtors

87,656

31,918

88,685

35,858

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

12,412

2,350

Trade creditors

-

1

Taxation and social security

31,162

30,706

Other creditors

3,600

3,620

47,174

36,677