Andicars (Havant) Limited - Accounts to registrar (filleted) - small 18.2

ANDICARS (HAVANT) LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD

17TH OCTOBER 2017 TO 31ST JULY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R R Leng

B M Leng

Ms R Valentine

REGISTERED OFFICE:

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

REGISTERED NUMBER:

11017335 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

FIXED ASSETS

Intangible assets

4

535,496

Tangible assets

5

10,445

545,941

CURRENT ASSETS

Debtors

6

313,321

Cash at bank

68,947

382,268

CREDITORS

Amounts falling due within one year

7

892,355

NET CURRENT LIABILITIES

(510,087

)

TOTAL ASSETS LESS CURRENT LIABILITIES

35,854

PROVISIONS FOR LIABILITIES

1,985

NET ASSETS

33,869

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

33,769

33,869

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st July 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st July 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5th March 2019 and were signed on its behalf by:

B M Leng - Director

R R Leng - Director

1.	STATUTORY INFORMATION

Andicars (Havant) Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the

entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is

recognised when the stage of completion can be reliably measured.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss in the period to which they relate.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS102 (Section 1a) to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the

instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there

is a legally enforceable right to set off the recognised amounts and there is an intention

to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 42 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

594,996

At 31st July 2018

594,996

AMORTISATION

Charge for period

59,500

At 31st July 2018

59,500

NET BOOK VALUE

At 31st July 2018

535,496

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

Additions

5,000

7,161

12,161

At 31st July 2018

5,000

7,161

12,161

DEPRECIATION

Charge for period

986

730

1,716

At 31st July 2018

986

730

1,716

NET BOOK VALUE

At 31st July 2018

4,014

6,431

10,445

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

305,979

Other debtors

7,342

313,321

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

64,431

Amounts owed to group undertakings

295,503

Taxation and social security

107,664

Other creditors

424,757

892,355