R. & S. Motors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02125145 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 August 2018

for

R. & S. Motors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

P D Sealey

D C Sealey

M Sealey

SECRETARY:

D C Sealey

REGISTERED OFFICE:

Harscombe House

1 Darklake View

Plymouth

Devon

PL6 7TL

REGISTERED NUMBER:

02125145 (England and Wales)

ACCOUNTANTS:

Bromhead

Harscombe House

1 Darklake View

Plymouth

Devon

PL6 7TL

FIXED ASSETS

Tangible assets

4

70,548

59,751

CURRENT ASSETS

Stocks

303,479

195,175

Debtors

5

26,786

20,826

Cash at bank

103,360

101,600

433,625

317,601

CREDITORS

Amounts falling due within one year

6

321,635

175,244

NET CURRENT ASSETS

111,990

142,357

TOTAL ASSETS LESS CURRENT LIABILITIES

182,538

202,108

PROVISIONS FOR LIABILITIES

8,985

7,577

NET ASSETS

173,553

194,531

CAPITAL AND RESERVES

Called up share capital

52

52

Retained earnings

173,501

194,479

SHAREHOLDERS' FUNDS

173,553

194,531

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 23 January 2019 and were signed on its behalf by:

D C Sealey - Director

M Sealey - Director

1.	STATUTORY INFORMATION

R. & S. Motors 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.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 etc

-

33% on cost, 15% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year 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 year 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.

Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

There were no contributions outstanding at the year end.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2017 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2017

185,471

Additions

22,638

At 31 August 2018

208,109

DEPRECIATION

At 1 September 2017

125,720

Charge for year

11,841

At 31 August 2018

137,561

NET BOOK VALUE

At 31 August 2018

70,548

At 31 August 2017

59,751

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade debtors

17,747

11,961

Other debtors

9,039

8,865

26,786

20,826

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade creditors

46,538

69,416

Taxation and social security

42,680

36,183

Other creditors

232,417

69,645

321,635

175,244

7.	RELATED PARTY DISCLOSURES

The company occupies premises owned personally by the director P D Sealey . The rents are negotiated at

arms length and during the year ended 31 August 2018 amounted to £24,000 (2017 - £24,000). £nil (2017 -

£nil) was outstanding at the end of the year.

The directors have loans with the company. These were not overdrawn at any point in the year. These loans are

interest free and repayable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of R. & S. Motors Limited for the year ended 31 August 2018 which comprise the Statement of

Income and Retained Earnings, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that R. & S. Motors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R. & S. Motors Limited. You consider that R. & S. Motors 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 financial statements of R. & S. Motors 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 financial statements.

Bromhead

Harscombe House

1 Darklake View

Plymouth

Devon

PL6 7TL

5 April 2019