REGISTERED NUMBER: 05666277 (England and Wales)

Financial Statements for the Year Ended 31 January 2017

for

YOUR CAR SPARES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Staples

REGISTERED OFFICE:

D2 White House Business Centre

Forest Road

Kingswood

Bristol

BS15 8DH

REGISTERED NUMBER:

05666277 (England and Wales)

ACCOUNTANTS:

West Country Accounting Services Limited

Chartered Accountants

Bristol

BS15 8DH

FIXED ASSETS

Tangible assets

4

20,796

17,455

CURRENT ASSETS

Stocks

42,233

75,720

Debtors

5

215,761

7,527

Cash at bank and in hand

5,077

21,879

263,071

105,126

CREDITORS

Amounts falling due within one year

6

192,649

47,548

NET CURRENT ASSETS

70,422

57,578

TOTAL ASSETS LESS CURRENT LIABILITIES

91,218

75,033

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

7

91,216

75,031

SHAREHOLDERS' FUNDS

91,218

75,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 10 May 2017 and were signed by:

D Staples - Director

1.	STATUTORY INFORMATION

Your Car Spares 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.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

slow moving items.

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 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.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2016

43,363

-

24,036

2,969

70,368

Additions

-

6,500

-

-

6,500

At 31 January 2017

43,363

6,500

24,036

2,969

76,868

DEPRECIATION

At 1 February 2016

31,320

-

20,119

1,474

52,913

Charge for year

1,806

-

979

374

3,159

At 31 January 2017

33,126

-

21,098

1,848

56,072

NET BOOK VALUE

At 31 January 2017

10,237

6,500

2,938

1,121

20,796

At 31 January 2016

12,043

-

3,917

1,495

17,455

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

872

Amounts owed by group undertakings

212,100

-

Other debtors

3,661

6,655

215,761

7,527

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

24,135

-

Trade creditors

11,914

10,552

Taxation and social security

18,961

30,727

Other creditors

137,639

6,269

192,649

47,548

7.

RESERVES

Retained

earnings

£

At 1 February 2016

75,031

Profit for the year

24,385

Dividends

(8,200

)

At 31 January 2017

91,216