| ABS MOTORS LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016 |
| ABS MOTORS LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016 |
| ABS MOTORS LIMITED (REGISTERED NUMBER: 03538214) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 APRIL 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| ABS MOTORS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| ABS MOTORS LIMITED (REGISTERED NUMBER: 03538214) |
| ABBREVIATED BALANCE SHEET |
| 30 APRIL 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| ABS MOTORS LIMITED (REGISTERED NUMBER: 03538214) |
| ABBREVIATED BALANCE SHEET - continued |
| 30 APRIL 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the director on |
| ABS MOTORS LIMITED (REGISTERED NUMBER: 03538214) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 APRIL 2016 |
| 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 January 2015). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company |
| qualifies as a small company. |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax, except in |
| respect of service contracts where turnover is recognised when the company obtains the right to |
| consideration. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts |
| recognised in respect of impairment (where applicable). |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in market value is transferred to a revaluation reserve. |
| No depreciation is provided in respect of such properties. Although the Companies Act 2006 would |
| normally require the systematic annual depreciation of fixed assets it is believed that this policy of |
| not providing depreciation is necessary in order for the financial statements to give a true and fair |
| view. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, on a first in - first out basis, 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. |
| ABS MOTORS LIMITED (REGISTERED NUMBER: 03538214) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial instruments are classified and accounted for according to the substance of the contractual |
| arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any |
| contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 May 2015 |
| Additions |
| Disposals | ( |
) |
| At 30 April 2016 |
| DEPRECIATION |
| At 1 May 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 April 2016 |
| NET BOOK VALUE |
| At 30 April 2016 |
| At 30 April 2015 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1 May 2015 |
| Additions |
| At 30 April 2016 |
| NET BOOK VALUE |
| At 30 April 2016 |
| At 30 April 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| ABS MOTORS LIMITED (REGISTERED NUMBER: 03538214) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2016 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary 'A' shares | £1 |
| Ordinary 'B' shares | £1 |
| 200 | 200 |
| 6. | RELATED PARTY DISCLOSURES |
| Director/ shareholder |
| The director received dividend income of £6,000 (2015 - £49,000 net) from the company during the |
| year ended 30 April 2016. |
| Fluctuating loans from the director subsisted during the year ended 30 April 2016. The |
| aforementioned loans are interest-free and are repayable on demand. |
| 2016 | 2015 |
| £ | £ |
| Amount due to related party at the balance sheet date |
| The company's bank loan is secured by way of a limited personal guarantee from the director. |