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Registration number: 05910397

AUTOPROFILE LIMITED

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Minney & Company Limited
Chartered Accountants
59 Union Street
Dunstable
Beds
LU6 1EX

 

AUTOPROFILE LIMITED
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AUTOPROFILE LIMITED
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AUTOPROFILE LIMITED for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of AUTOPROFILE LIMITED , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AUTOPROFILE LIMITED and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AUTOPROFILE LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AUTOPROFILE LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AUTOPROFILE LIMITED . You consider that AUTOPROFILE LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AUTOPROFILE LIMITED . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Minney & Company Limited
Chartered Accountants
59 Union Street
Dunstable
Beds
LU6 1EX

21 July 2017

 

AUTOPROFILE LIMITED
(Registration number: 05910397)
Abbreviated Balance Sheet at 31 October 2016

 

Note

   

2016
£

   

2015
£

 

Fixed assets

 

   

   

 

Tangible fixed assets

 

2

   

1,055

   

982

 

Current assets

 

   

   

 

Stocks

 

   

19,900

   

19,900

 

Debtors

 

   

48,550

   

33,361

 

Cash at bank and in hand

 

   

103,282

   

82,992

 

 

   

171,732

   

136,253

 

Creditors: Amounts falling due within one year

 

   

(92,944)

   

(85,868)

 

Net current assets

 

   

78,788

   

50,385

 

Total assets less current liabilities

 

   

79,843

   

51,367

 

Provisions for liabilities

 

   

(12)

   

(12)

 

Net assets

 

   

79,831

   

51,355

 

Capital and reserves

 

   

   

 

Called up share capital

 

3

   

2

   

2

 

Profit and loss account

 

   

79,829

   

51,353

 

Shareholders' funds

 

   

79,831

   

51,355

 

For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 21 July 2017 and signed on its behalf by:

.........................................
S Dawkins
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

AUTOPROFILE LIMITED
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Pland and machinery

20% reducing balance

Office equipment

20% reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

AUTOPROFILE LIMITED
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 November 2015

 

5,907

   

5,907

 

Additions

 

350

   

350

 

At 31 October 2016

 

6,257

   

6,257

 

Depreciation

           

At 1 November 2015

 

4,925

   

4,925

 

Charge for the year

 

277

   

277

 

At 31 October 2016

 

5,202

   

5,202

 

Net book value

           

At 31 October 2016

 

1,055

   

1,055

 

At 31 October 2015

 

982

   

982

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

2

   

2

   

2

   

2

 
                         

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