2014-10-01
true
false
Private Limited Company
03587220
2015-09-30
03587220
2014-10-01
2015-09-30
03587220
2014-09-30
03587220
2013-10-01
2014-09-30
03587220
uk-bus:Director1
2014-10-01
2015-09-30
03587220
uk-bus:OrdinaryShareClass1
2015-09-30
iso4217:GBP
For the year ended 30 September 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03587220
2
| Abbreviated Balance Sheet |
IN Autos Limited
2015
2014
2
51,267
50,665
51,267
50,665
26,100
17,371
61,678
83,472
100,843
87,778
| Creditors: amounts falling due within one year |
(101,515)
(102,535)
(13,737)
(1,692)
Net current liabilities
| Total assets less current liabilities |
49,575
36,928
| Creditors: amounts falling due after more than one year |
(11,177)
(17,561)
(10,253)
(10,133)
| Provisions for liabilities |
21,761
Net assets
15,618
4
3
4
21,757
15,614
21,761
15,618
Shareholders funds
| For the year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts |
| These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
| Date approved by the board: 17 June 2016 |
| J. P. Pinto-Pereira Director |
| Signed on behalf of the board of directors |
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3
| Notes to the Abbreviated Financial Statements |
IN Autos Limited
For the year ended 30 September 2015
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
| The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.Deferred tax assets are only recognised if it is more likely than not that they will be recovered either against future taxable profits or against the reversal of other deferred tax liabilities. |
| Interim dividends are recognised in the financial statements as an appropriation of the Profit and Loss reserves in the |
| financial year in which they are paid. Proposed dividends are only included as liabilities in the financial statements |
| when their payment has been approved by the shareholders prior to the balance sheet date. |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at a rate of 25% on a reducing balance basis which is calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives. |
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated in accordance with the policy in the tangible fixed assets note above. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
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4
| Notes to the Abbreviated Financial Statements |
IN Autos Limited
For the year ended 30 September 2015
| Stocks and work in progress |
| Stock comprises parts and consumable items for sale or to be used in servicing. Short term work in progress comprises direct costs incurred up to the balance sheet date on jobs which were completed and invoiced after the balance sheet date. Both items are stated at the lower of cost and net realisable value, based on the opinion of the Director. |
94,698
18,000
(5,500)
107,198
44,033
(5,159)
17,057
Charge for year
55,931
51,267
50,665
Motor vehicles which have a net book value of £23,062 (2014 - £12,750) are held under hire purchase agreements.
| Allotted called up and fully paid |
2015
2014
| 4 Ordinary shares of £1.00 each |
4
4
4
4
3 of 3
