REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MARCH 2015 |
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FOR |
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SIMON JAMES CARS LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MARCH 2015 |
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FOR |
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SIMON JAMES CARS LIMITED |
SIMON JAMES CARS LIMITED (REGISTERED NUMBER: 06966403) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the Year Ended 31 March 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
SIMON JAMES CARS LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 March 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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SIMON JAMES CARS LIMITED (REGISTERED NUMBER: 06966403) |
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ABBREVIATED BALANCE SHEET |
31 March 2015 |
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31.3.15 | 31.3.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
SIMON JAMES CARS LIMITED (REGISTERED NUMBER: 06966403) |
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ABBREVIATED BALANCE SHEET - continued |
31 March 2015 |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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SIMON JAMES CARS LIMITED (REGISTERED NUMBER: 06966403) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the Year Ended 31 March 2015 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover & income recognition |
Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised |
when upon the satisfactory completion of the contract. |
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Tangible fixed assets |
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Improvements to property | - |
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Equipment | - |
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Fixtures, fittings & office equipment | - |
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Computer equipment | - |
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Stocks |
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated |
selling price. Provision is made for slow moving, obsolete or damaged stock where the net realisable |
value is less than cost. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date where transactions or events that result in an obligation to pay more tax in the |
future or a right to pay less tax in the future have occurred at the balance sheet date. Timing |
differences are differences between the company's taxable profit or loss and its results as stated in the |
financial statements that arise from the inclusion of gains and losses in assessments in periods |
different from those in which they are recognised in the financial statements. |
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will |
be suitable taxable profits from which the future reversal of the underlying timing differences can be |
deducted. |
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Deferred tax assets and liabilities are not discounted. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
SIMON JAMES CARS LIMITED (REGISTERED NUMBER: 06966403) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Year Ended 31 March 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2014 |
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Additions |
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Disposals | ( |
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At 31 March 2015 |
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DEPRECIATION |
At 1 April 2014 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2015 |
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NET BOOK VALUE |
At 31 March 2015 |
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At 31 March 2014 |
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3. | CREDITORS |
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Creditors include an amount of £
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.15 | 31.3.14 |
value: | £ | £ |
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Ordinary | £1 |
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5. | RELATED PARTY DISCLOSURES |
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SIMON JAMES CARS LIMITED (REGISTERED NUMBER: 06966403) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Year Ended 31 March 2015 |
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5. | RELATED PARTY DISCLOSURES - continued |
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Director & shareholder |
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The movements on the J Allen's loan account with the company during the year are shown below: |
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31.03.2015 |
£ |
Balance at 1 April 2014 | (45,453 | ) |
Loans made to the company | (12,758 | ) |
Loans repaid by the company | 44,408 |
Personal payments | 9,732 |
Balance at 31 March 2015 | (4,071 | ) |
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31.03.2014 |
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Balance at 1 April 2013 | (50,000 | ) |
Loans made to the company | (3,188 | ) |
Cash drawn | 7,735 |
Balance at 31 March 2014 | (45,453 | ) |
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The loan does not bear interest. |
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J Allen was not indebted to the company at any time during the year. |
SIMON JAMES CARS LIMITED (REGISTERED NUMBER: 06966403) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Year Ended 31 March 2015 |
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5. | RELATED PARTY DISCLOSURES - continued |
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Director & shareholder |
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The movements on S Booth's loan account with the company during the year are shown below: |
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31.03.2015 |
£ |
Balance at 1 April 2014 | (57 | ) |
Loans made to the company | (15,000 | ) |
Loans repaid by the company | 41,650 |
Expenses not claimed | (2,221 | ) |
Balance at 31 March 2015 | 24,372 |
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31.03.2014 |
£ |
Balance at 1 April 2013 | (5,000 | ) |
Loans made to the company | (3,188 | ) |
Personal payments | 8,131 |
Balance at 31 March 2014 | (57 | ) |
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The loan does not bear interest. |
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The maximum amount due to the company during the year was £24,372 (2014 £Nil). |
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Mr S Allen |
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S Allen is the father of J Allen |
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During the year the company undertook transactions with Mr S Allen as shown below |
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Sales | £29,025 (2014 £NIL) |
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Purchases | £59,350 (2014 £376,000) |
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Loan interest paid | £12,000 (2014 £NIL) |
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31.3.15 | 31.3.14 |
£ | £ |
Amount due to related party at the balance sheet date |
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