Keylink Southern Auto Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05357724 (England and Wales)

KEYLINK SOUTHERN AUTO SERVICES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

1,382

1,875

CURRENT ASSETS

Stocks

5,625

3,769

Debtors

17,007

13,433

Cash at bank and in hand

6,518

10,922

29,150

28,124

CREDITORS

Amounts falling due within one year

(23,855

)

(23,617

)

NET CURRENT ASSETS

5,295

4,507

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,677

6,382

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

6,676

6,381

SHAREHOLDERS' FUNDS

6,677

6,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 2 March 2017 and were signed on its behalf by:

D S Newton - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the

service provided to date based on a proportion of the total expected consideration at completion. Where

payments are received from customers in advance of services provided, the amounts are recorded as deferred

income and included as part of creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% Reducing balance

Motor vehicles

-

20% Straight line

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

8,096

Additions

199

At 31 October 2016

8,295

DEPRECIATION

At 1 November 2015

6,221

Charge for year

692

At 31 October 2016

6,913

NET BOOK VALUE

At 31 October 2016

1,382

At 31 October 2015

1,875

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1