Downloaded from Datalog REGISTERED NUMBER: (England and Wales)

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1 Downloaded from Datalog REGISTERED NUMBER: (England and Wales) UNIVERSAL CLAIMS & CRASH REPAIRS LIMIT ED ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014 Kounnis And Partners Ltd Chartered Certified Accountants Sterling House Fulbourne Road Walthamstow London E17 4EE

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3 Downloaded from Datalog UNIVERSAL CLAIMS & CRASH REPAIRS LIMITED (REGISTERED NUMBER: ) CONTENTS OF THE ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014 Page Company Information 1 Abbreviated Balance Sheet 2 Notes to the Abbreviated Accounts 4

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5 Downloaded from Datalog UNIVERSAL CLAIMS & CRASH REPAIRS LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2014 DIRECTOR: Mr S Sari SECRETARY: Mrs H Sari REGISTERED OFFICE: Sterling House Fulbourne Road Walthamstow London E17 4EE REGISTERED NUMBER: (England and Wales) ACCOUNTANTS: Kounnis And Partners Ltd Chartered Certified Accountants Sterling House Fulbourne Road Walthamstow London E17 4EE

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7 Downloaded from Datalog UNIVERSAL CLAIMS & CRASH REPAIRS LIMITED (REGISTERED NUMBER: ) ABBREVIATED BALANCE SHEET 31 MARCH Notes FIXED ASSETS Tangible assets 2 207, ,661 CURRENT ASSETS Stocs 12,148 4,924 Debtors 456, ,705 Cash in hand 1, , ,934 CREDITORS Amounts falling due within one year 515, ,506 NET CURRENT (LIABILITIES)/ASSETS (45,551) 3,428 TOTAL ASSETS LESS CURRENT LIABILITIES 161, ,089 CREDITORS Amounts falling due after more than one year 61, ,844 NET ASSETS 100, ,245 CAPITAL AND RESERVES Called up share capital Profit and loss account 100, ,145 SHAREHOLDERS' FUNDS 100, ,245 The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act The director acnowledges his responsibilities for: ensuring that the company eeps accounting records which comply with Sections 386 and (a) 387 of the Companies Act 2006 and 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 (b) 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.

8 Downloaded from Datalog The notes form part of these abbreviated accounts Page 2 continued...

9 Downloaded from Datalog UNIVERSAL CLAIMS & CRASH REPAIRS LIMITED (REGISTERED NUMBER: ) ABBREVIATED BALANCE SHEET - continued 31 MARCH 2014 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 31 March 2015 and were signed by: Mr S Sari - Director

10 Downloaded from Datalog The notes form part of these abbreviated accounts Page 3

11 Downloaded from Datalog UNIVERSAL CLAIMS & CRASH REPAIRS LIMITED (REGISTERED NUMBER: ) NOTES TO THE ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 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 net invoiced sales of goods, excluding value added tax. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Plant and machinery Fixtures and fittings Motor vehicles Computer equipment - 25% on reducing balance - 20% on reducing balance - 25% on reducing balance - 33% on cost Stocs Wor in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Deferred tax The charge for taxation taes into account taxation deferred as a result of timing differences between the treatment of certain item for taxation and accounting purposes. In general, deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more liely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is not recognised on revaluation gains. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. Hire purchase and leasing commitments Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

12 Downloaded from Datalog The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Page 4 continued...

13 Downloaded from Datalog UNIVERSAL CLAIMS & CRASH REPAIRS LIMITED (REGISTERED NUMBER: ) NOTES TO THE ABBREVIATED ACCOUNTS - continued FOR THE YEAR ENDED 31 MARCH TANGIBLE FIXED ASSETS Total COST At 1 April ,258 Additions 21,500 At 31 March ,758 DEPRECIATION At 1 April ,597 Charge for year 70,036 At 31 March ,633 NET BOOK VALUE At 31 March ,125 At 31 March , CALLED UP SHARE CAPITAL Allotted, issued and fully paid: Number: Class: Nominal value: 100 Ordinary DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES During the year, the company paid rent of 28,600 (2013: 28,600) for use of premises belonging to the Director and his wife. The transactions were at arms length.

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