Registration number:
ABS Motors Limited
for the
Year Ended 30 April 2017
ABS Motors Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
ABS Motors Limited
Company Information
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Director |
AB Strickland |
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Company secretary |
Mrs DA Strickland |
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Registered office |
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Accountants |
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Page 1 |
ABS Motors Limited
(Registration number: 03538214)
Balance Sheet as at 30 April 2017
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2017 |
2016 |
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Fixed assets |
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Current assets |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Accruals and deferred income |
( |
( |
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Capital and reserves |
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
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Page 2 |
ABS Motors Limited
(Registration number: 03538214)
Balance Sheet as at 30 April 2017
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1 |
General information (continued) |
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Transition to FRS105
This is the first year in which the financial statements have been prepared under FRS105. The FRS105 transition date was 1 May 2015.
Deferred tax has been removed as a transition adjustment.
Employee numbers
The average number of persons employed by the company during the year was 0 (2016 - 0).
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Financial commitments, guarantees and contingencies |
Debenture
Fixed and floating charges over all of the company's property and undertakings in relation to the borrowings from National Westminster Bank PLC.
Legal Charge
A legal charge is held on the company's freehold land being Plot 1, Foxmoor Business Park, Wellington, Somerset.
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Related party transactions |
Mr A B Strickland
Director/Shareholder
The director has provided a personal guarantee of £121,006 to National Westminster Bank PLC for the company loan.
Fluctuating loans to the director subsisted during the year under review. The aforementioned loans to the director are interest-free and repayable on demand.
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Page 3 |
ABS Motors Limited
(Registration number: 03538214)
Balance Sheet as at 30 April 2017
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3 |
Related party transactions (continued) |
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Transactions with directors |
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2017 |
At 1 May 2016 |
Advances to directors |
Repayments by director |
At 30 April 2017 |
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AB Strickland |
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Director's loan account |
(47) |
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2016 |
At 1 May 2015 |
Advances to directors |
Repayments by director |
At 30 April 2016 |
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AB Strickland |
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Director's loan account |
(817) |
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( |
( |
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Page 4 |
ABS Motors Limited
(Registration number: 03538214)
Balance Sheet as at 30 April 2017
These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
For the financial year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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AB Strickland
Director
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Page 5 |