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REGISTERED NUMBER: 03792378 (England and Wales)


















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2013

FOR

FIRST CLASS MOTORS LIMITED

FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 August 2013




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 2013







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 2013

2013 2012
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 28,500 38,000
Tangible assets 3 361,132 391,697
Investment property 4 222,323 57,828
611,955 487,525

CURRENT ASSETS
Stocks 903,578 908,802
Debtors 137,990 181,220
Cash at bank and in hand 193,150 280,328
1,234,718 1,370,350
CREDITORS
Amounts falling due within one year 78,264 89,420
NET CURRENT ASSETS 1,156,454 1,280,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,768,409

1,768,455

PROVISIONS FOR LIABILITIES 7,235 8,390
NET ASSETS 1,761,174 1,760,065

CAPITAL AND RESERVES
Called up share capital 5 2 2
Profit and loss account 1,761,172 1,760,063
SHAREHOLDERS' FUNDS 1,761,174 1,760,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2013 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 2013


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 28 April 2014 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 2013

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
Depreciation is provided at the following annual rates in order to write off 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

Leasing commitments
Amounts paid in respect of operating leases are charged to profit and loss account as incurred.

FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 August 2013

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2012
and 31 August 2013 95,000
AMORTISATION
At 1 September 2012 57,000
Amortisation for year 9,500
At 31 August 2013 66,500
NET BOOK VALUE

At 31 August 2013 28,500
At 31 August 2012 38,000

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2012 487,862
Additions 46,623
Disposals (75,779 )
At 31 August 2013 458,706
DEPRECIATION
At 1 September 2012 96,165
Charge for year 11,524
Eliminated on disposal (10,115 )
At 31 August 2013 97,574
NET BOOK VALUE
At 31 August 2013 361,132
At 31 August 2012 391,697

4. INVESTMENT PROPERTY
Total
£   
COST
At 1 September 2012 57,828
Additions 164,495
At 31 August 2013 222,323
NET BOOK VALUE
At 31 August 2013 222,323
At 31 August 2012 57,828

FIRST CLASS MOTORS LIMITED (REGISTERED NUMBER: 03792378)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 August 2013

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2013 2012
value: £    £   
2 Ordinary £1 2 2

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2013 and
31 August 2012:

2013 2012
£    £   
N Houghton
Balance outstanding at start of year 67,701 27,469
Amounts advanced 74,969 67,701
Amounts repaid (116,476 ) (27,469 )
Balance outstanding at end of year 26,194 67,701

The above amount will be repaid to the company by 31 May 2014.

7. CONTROL

The company is controlled by the director.