Company Registration No. 4949107 (England and Wales)
YOUR CAR HIRE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2015
YOUR CAR HIRE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
YOUR CAR HIRE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2015
31 August 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,072
2,869
Current assets
Debtors
30,448
38,145
Cash at bank and in hand
92,509
133,068
122,957
171,213
Creditors: amounts falling due within one year
(217,107)
(264,474)
Net current liabilities
(94,150)
(93,261)
Total assets less current liabilities
(92,078)
(90,392)
Creditors: amounts falling due after more than one year
3
-
(851,500)
(92,078)
(941,892)
Capital and reserves
Called up share capital
4
50,000
50,000
Profit and loss account
(142,078)
(991,892)
Shareholders' funds
(92,078)
(941,892)
For the financial year ended 31 August 2015 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 26 May 2016
R Bligh
Director
Company Registration No. 4949107
YOUR CAR HIRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
- 2 -
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 April 2008).
The financial statements have been prepared on a going concern basis even though at the Balance Sheet date the Company's current liabilities exceeded its current assets by £94150 and it made a profit for the year of £849814.
The Directors consider the going concern basis to be appropriate because, in their opinion, the Company will continue to obtain sufficient funding to enable it to pay its debts as they fall due. If the Company were unable to obtain this funding, it would be unable to continue trading and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT.
1.3
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
25% on a reducing balance basis
Computer equipment
33.3% on a reducing balance basis
Fixtures, fittings & equipment
25% on a reducing balance basis
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2014 & at 31 August 2015
31,192
Depreciation
At 1 September 2014
28,323
Charge for the year
797
At 31 August 2015
29,120
Net book value
At 31 August 2015
2,072
At 31 August 2014
2,869
YOUR CAR HIRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
- 3 -
3
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
-
851,500
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
50,000 Ordinary Shares of £1 each
50,000
50,000