Company Registration No. 06507351 (England and Wales)
L & S AUTOS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
L & S AUTOS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3
L & S AUTOS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
24,000
26,000
Tangible assets
2
9,609
11,511
33,609
37,511
Current assets
Stocks
2,000
2,000
Debtors
623
856
Cash at bank and in hand
14,898
7,164
17,521
10,020
Creditors: amounts falling due within one year
(48,971)
(42,796)
Net current liabilities
(31,450)
(32,776)
Total assets less current liabilities
2,159
4,735
Provisions for liabilities
(1,922)
(2,302)
237
2,433
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
236
2,432
Shareholders' funds
237
2,433
L & S AUTOS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 September 2016
L Della Rocca
Director
Company Registration No. 06507351
L & S AUTOS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015 & at 31 March 2016
40,000
20,953
60,953
Depreciation
At 1 April 2015
14,000
9,442
23,442
Charge for the year
2,000
1,902
3,902
At 31 March 2016
16,000
11,344
27,344
Net book value
At 31 March 2016
24,000
9,609
33,609
At 31 March 2015
26,000
11,511
37,511
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1
1
1
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