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REGISTERED NUMBER: 03792378 (England and Wales)


















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

FOR

FIRST CLASS MOTORS LIMITED

FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 August 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

FIRST CLASS MOTORS LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2015







DIRECTOR: N Houghton





SECRETARY: Mrs L M Houghton





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 03792378 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)

ABBREVIATED BALANCE SHEET
31 August 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 9,500 19,000
Tangible assets 3 354,781 364,639
Investment property 4 468,608 85,624
832,889 469,263

CURRENT ASSETS
Stocks 866,622 1,009,264
Debtors 180,847 167,393
Cash at bank and in hand 320,133 261,732
1,367,602 1,438,389
CREDITORS
Amounts falling due within one year 5 207,680 105,311
NET CURRENT ASSETS 1,159,922 1,333,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,992,811

1,802,341

CREDITORS
Amounts falling due after more than one
year

5

(166,580

)

-

PROVISIONS FOR LIABILITIES (7,290 ) (7,516 )
NET ASSETS 1,818,941 1,794,825

CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and loss account 1,818,939 1,794,823
SHAREHOLDERS' FUNDS 1,818,941 1,794,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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.

FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)

ABBREVIATED BALANCE SHEET - continued
31 August 2015


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 24 May 2016 and were signed by:





N Houghton - Director


FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 August 2015

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 the net invoice value of goods sold and services provided, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following
annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% on cost

Investment property
Investment properties are accounted for in accordance with the Financial Reporting Standard for Smaller Entities
(effective April 2008) and are revalued annually to open market value. Changes in market value would be
reflected in a revaluation reserve except when an impairment is deemed to be permanent, when the loss is
charged directly against the current year’s profit.

No depreciation is provided in respect of investment properties. This treatment is a departure from the
requirements of the Companies Act 2006 which requires all properties to be depreciated. However, the director
considers that these properties are not held for consumption but for investment and that to depreciate them would
not give a true and fair view. The amount of decertification which might otherwise have been charged cannot be
separately identified or quantified as it is not practical to asses the estimated useful lives of investment
properties.

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.

Rents receivable
Rents receivable represent the value of rents receivable during the year excluding value added tax.

FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 August 2015

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2014
and 31 August 2015 95,000
AMORTISATION
At 1 September 2014 76,000
Amortisation for year 9,500
At 31 August 2015 85,500
NET BOOK VALUE

At 31 August 2015 9,500
At 31 August 2014 19,000

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2014 475,923
Additions 10,439
Disposals (11,259 )
At 31 August 2015 475,103
DEPRECIATION
At 1 September 2014 111,284
Charge for year 11,853
Eliminated on disposal (2,815 )
At 31 August 2015 120,322
NET BOOK VALUE
At 31 August 2015 354,781
At 31 August 2014 364,639

4. INVESTMENT PROPERTY
Total
£   
COST
At 1 September 2014 85,624
Additions 382,984
At 31 August 2015 468,608
NET BOOK VALUE
At 31 August 2015 468,608
At 31 August 2014 85,624

FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 August 2015

5. CREDITORS

Creditors include an amount of £ 184,810 for which security has been given.

They also include the following debts falling due in more than five years:

2015 2014
£    £   
Repayable by instalments 93,660 -

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
2 Ordinary £1 2 2

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2015 and
31 August 2014:

2015 2014
£    £   
N Houghton
Balance outstanding at start of year 53,401 26,194
Amounts advanced 153,009 66,889
Amounts repaid (142,854 ) (39,682 )
Balance outstanding at end of year 63,556 53,401

8. CONTROL

The company is controlled by the director.