REGISTERED NUMBER: 04023976 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

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

18 Market Place

Brackley

Northamptonshire

NN13 7DP

FIXED ASSETS

Tangible assets

2

16,566

15,916

CURRENT ASSETS

Stocks

56,200

52,600

Debtors

696

300

Cash at bank and in hand

4,567

10,954

61,463

63,854

CREDITORS

Amounts falling due within one year

109,742

114,930

NET CURRENT LIABILITIES

(48,279

)

(51,076

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(31,713

)

(35,160

)

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(31,715

)

(35,162

)

SHAREHOLDERS' FUNDS

(31,713

)

(35,160

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 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 13 February 2015 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 2013

47,557

Additions

5,000

At 31 October 2014

52,557

DEPRECIATION

At 1 November 2013

31,641

Charge for year

4,350

At 31 October 2014

35,991

NET BOOK VALUE

At 31 October 2014

16,566

At 31 October 2013

15,916

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary Shares

£1

2

2

4.	GOING CONCERN

There was a net deficiency of assets of £31,713 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.