Anthony Motors Limited - Period Ending 2019-01-31

Registration number: 01418735

Anthony Motors Limited

Annual Report and Financial Statements

for the Year Ended 31 January 2019

Anthony Motors Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 7
Profit and Loss Account	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Financial Statements	12 to 22

Anthony Motors Limited

Company Information

Directors

Mr William Anthony Richards Mr Justin Morgan Manley

Company secretary

Mr Richard Mervyn Powell

Registered office

Llanbadarn Road Aberystwyth Ceredigion SY23 3QP

Auditors

PJE Audit Services Ltd Registered Auditor 23 College Street Lampeter Ceredigion SA48 7DY

Page 1

Anthony Motors Limited

Strategic Report for the Year Ended 31 January 2019

The directors present their strategic report for the year ended 31 January 2019.

Principal activity

The principal activity of the company is motor dealers and garage services

Principal risks and uncertainties

The directors continually consider risk and uncertainty in the business and in its market. They have not identified any significant risk to the achievement of the company's strategic objectives, and they do not believe that there are any key risks or uncertainties that warrant discussion or disclosure in this report.

Approved by the Board on 12 July 2019 and signed on its behalf by:

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

Mr William Anthony Richards
Director

Page 2

Anthony Motors Limited

Directors' Report for the Year Ended 31 January 2019

The directors present their report and the financial statements for the year ended 31 January 2019.

Directors of the company

The directors who held office during the year were as follows:

Mr William Anthony Richards

Mr Justin Morgan Manley

Financial instruments

Objectives and policies

The company does not require a policy for financial instruments. It has no securities and has no exchange-related or over-the-counter derivatives. The company does not make loans. Where it borrows money, it does so under the terms of the lenders' contracts.

Price risk, credit risk, liquidity risk and cash flow risk

The Directors do not believe that there is any significant likelihood of these risks in the foreseeable future.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved by the Board on 12 July 2019 and signed on its behalf by:

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

Mr William Anthony Richards
Director

Page 3

Anthony Motors Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 The Financial Reporting Standard applicable to medium sized entities. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

Anthony Motors Limited

Independent Auditor's Report to the Members of Anthony Motors Limited

Opinion

We have audited the financial statements of Anthony Motors Limited (the 'company') for the year ended 31 January 2019, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 31 January 2019 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

•	the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
•	the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Page 5

Anthony Motors Limited

Independent Auditor's Report to the Members of Anthony Motors Limited (continued)

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors’ remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Page 6

Anthony Motors Limited

Independent Auditor's Report to the Members of Anthony Motors Limited (continued)

•

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.

•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

•

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

•	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

•

Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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

D R Patterson BA(Hons), FCA, FCCA (Senior Statutory Auditor)
For and on behalf of PJE Audit Services Ltd, Statutory Auditor

23 College Street
Lampeter
Ceredigion
SA48 7DY

29 July 2019

Page 7

Anthony Motors Limited

Profit and Loss Account for the Year Ended 31 January 2019

	Note	2019 £	2018 £
Turnover	3	16,554,060	17,649,082
Cost of sales		(14,384,185)	(15,438,071)
Gross profit		2,169,875	2,211,011
Administrative expenses		(1,854,637)	(1,863,241)
Other operating income	4	133,150	129,695
Operating profit	5	448,388	477,465
Interest payable and similar expenses	6	(67,464)	(71,997)
		(67,464)	(71,997)
Profit before tax		380,924	405,468
Taxation	10	(72,187)	(72,091)
Profit for the financial year		308,737	333,377

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 8

Anthony Motors Limited

Balance Sheet as at 31 January 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	11	1,389,098	1,464,172
Current assets
Stocks	13	4,036,326	3,815,318
Debtors	14	601,750	392,866
Other financial assets	12	38,199	48,132
Cash at bank and in hand		933,507	1,017,408
		5,609,782	5,273,724
Creditors: Amounts falling due within one year	16	(3,434,526)	(3,329,160)
Net current assets		2,175,256	1,944,564
Total assets less current liabilities		3,564,354	3,408,736
Creditors: Amounts falling due after more than one year	16	(148,104)	(181,162)
Provisions for liabilities	17	(66,240)	(87,101)
Net assets		3,350,010	3,140,473
Capital and reserves
Called up share capital	18	124	124
Share premium reserve		20,859	20,859
Profit and loss account		3,329,027	3,119,490
Total equity		3,350,010	3,140,473

Approved and authorised by the Board on 12 July 2019 and signed on its behalf by:
 

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

Mr William Anthony Richards
Director

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 9

Anthony Motors Limited

Statement of Changes in Equity for the Year Ended 31 January 2019

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 February 2018	124	20,859	3,119,490	3,140,473
Profit for the year	-	-	308,737	308,737
Total comprehensive income	-	-	308,737	308,737
Dividends	-	-	(99,200)	(99,200)
At 31 January 2019	124	20,859	3,329,027	3,350,010

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 February 2017	124	20,859	2,878,813	2,899,796
Profit for the year	-	-	333,377	333,377
Total comprehensive income	-	-	333,377	333,377
Dividends	-	-	(92,700)	(92,700)
At 31 January 2018	124	20,859	3,119,490	3,140,473

Included within equity is a balance for undistributable, un-realised profits that the directors have elected to title "revaluation reserve" for ease of identicication.

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 10

Anthony Motors Limited

Statement of Cash Flows for the Year Ended 31 January 2019

	Note	2019  £	2018  £
Cash flows from operating activities
Profit for the year		308,737	333,377
Adjustments to cash flows from non-cash items
Depreciation and amortisation	5	92,183	91,530
Finance costs	6	67,464	71,997
Income tax expense	10	72,187	72,091
		540,571	568,995
Working capital adjustments
Increase in stocks	13	(221,008)	(197,629)
(Increase)/decrease in trade debtors	14	(208,884)	58,888
Increase/(decrease) in trade creditors	16	175,687	(48,935)
Cash generated from operations		286,366	381,319
Income taxes paid	10	(81,923)	(63,745)
Net cash flow from operating activities		204,443	317,574
Cash flows from investing activities
Acquisitions of tangible assets		(17,109)	(45,451)
Cash flows from financing activities
Interest paid	6	(67,464)	(71,997)
Repayment of bank borrowing		(27,034)	(27,034)
Repayment of other borrowing		(77,537)	142,734
Director's Drawings		(99,200)	(92,700)
Net cash flows from financing activities		(271,235)	(48,997)
Net (decrease)/increase in cash and cash equivalents		(83,901)	223,126
Cash and cash equivalents at 1 February		1,017,408	794,282
Cash and cash equivalents at 31 January		933,507	1,017,408

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 11

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Llanbadarn Road
Aberystwyth
Ceredigion
SY23 3QP
United Kingdom

These financial statements were authorised for issue by the Board on 12 July 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Page 12

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

2	Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold buildings	1-1.5% straight line on cost
Plant, equipment, fixtures & fittings	20% straight line on cost
Showroom fit-outs	10% straight line on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Page 13

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

2	Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

The bank has first fixed charges over the land & buildings of the company. In addition the bank holds first floating charges over the assets of the company, and the providers of stocking loans hold secondary floating charges over the assets of the company

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Revenue

The analysis of the company's revenue for the year from continuing operations is as follows:

Page 14

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

3	Revenue (continued)

	2019 £	2018 £
Sale of goods	14,697,848	15,725,758
Rendering of services	1,856,212	1,923,324
	16,554,060	17,649,082

4	Other operating income

The analysis of the company's other operating income for the year is as follows:

	2019  £	2018  £
Miscellaneous other operating income	133,150	129,695

5	Operating profit

Arrived at after charging/(crediting)

	2019 £	2018 £
Depreciation expense	92,183	91,530

6	Interest payable and similar expenses

	2019 £	2018 £
Interest on bank overdrafts and borrowings	6,042	6,118
Interest expense on other finance liabilities	61,422	65,879
	67,464	71,997

7	Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	2019 £	2018 £
Wages and salaries	1,094,765	1,099,249
Other employee expense	22,611	31,926
	1,117,376	1,131,175

Page 15

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

7	Staff costs (continued)

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

	2019 No.	2018 No.
Administration and support	4	4
Sales, marketing and distribution	38	43
	42	47

8	Directors' remuneration

The directors' remuneration for the year was as follows:

	2019 £	2018 £
Remuneration	38,699	38,175

9	Auditors' remuneration

	2019 £	2018 £
Audit of the financial statements	9,025	9,808

 

10

Taxation

Tax charged/(credited) in the income statement

	2019 £	2018 £
Current taxation
UK corporation tax	85,731	85,407
UK corporation tax adjustment to prior periods	7,317	-
	93,048	85,407
Deferred taxation
Arising from origination and reversal of timing differences	(20,861)	(13,316)
Tax expense in the income statement	72,187	72,091

Page 16

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

11	Tangible assets

	Freehold Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2018	1,229,737	739,876	274,459	2,244,072
Additions	-	-	17,109	17,109
At 31 January 2019	1,229,737	739,876	291,568	2,261,181
Depreciation
At 1 February 2018	201,563	362,040	216,297	779,900
Charge for the year	9,480	57,910	24,793	92,183
At 31 January 2019	211,043	419,950	241,090	872,083
Carrying amount
At 31 January 2019	1,018,694	319,926	50,478	1,389,098
At 31 January 2018	1,028,174	377,836	58,162	1,464,172

12	Other financial assets (current and non-current)

	2019 £	2018 £
Current financial assets
Financial assets at fair value through profit and loss	38,199	48,132

Page 17

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

13

Stocks

	2019 £	2018 £
Work in progress	261,447	230,000
Other inventories	3,774,879	3,585,318
	4,036,326	3,815,318

14

Debtors

	2019 £	2018 £
Trade debtors	455,929	263,334
Other debtors	60,481	63,881
Prepayments	85,340	65,651
	601,750	392,866

15	Cash and cash equivalents

	2019 £	2018 £
Cash at bank	933,507	1,017,408

Page 18

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

16

Creditors

	Note	2019 £	2018 £
Due within one year
Loans and borrowings	19	2,810,852	2,881,497
Trade creditors		395,663	206,851
Social security and other taxes		44,393	71,823
Accruals		97,887	83,582
Income tax liability	10	85,731	85,407
		3,434,526	3,329,160
Due after one year
Loans and borrowings	19	148,104	181,162

17	Deferred tax and other provisions

	Deferred tax £	Total £
At 1 February 2018	87,101	87,101
Provisions used	(20,861)	(20,861)
At 31 January 2019	66,240	66,240

18	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary of £1 each	124	124	124	124

Page 19

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

19	Loans and borrowings

	2019 £	2018 £
Non-current loans and borrowings
Bank borrowings	148,104	181,162

	2019 £	2018 £
Current loans and borrowings
Bank borrowings	33,057	27,034
Other borrowings	2,777,795	2,854,463
	2,810,852	2,881,497

20

Dividends

		2019		2018
		£		£
Final dividend of £Nil (2018 - £Nil) per ordinary share		-		-
Interim dividend of £800.00 (2018 - £747.58) per ordinary share		99,200		92,700
		99,200		92,700

21	Related party transactions

Transactions with directors

2019	At 1 February 2018 £	Advances to directors £	Repayments by director £	At 31 January 2019 £
Mr William Anthony Richards
Director's loan account	(36)	36,517	(99,200)	(62,719)

Page 20

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

21	Related party transactions (continued)

2018	At 1 February 2017 £	Advances to directors £	Repayments by director £	At 31 January 2018 £
Mr William Anthony Richards
Director's loan account	13,937	78,727	(92,700)	(36)

Directors guarantees

During the year the company entered into no guarantees on behalf of the directors.

Summary of transactions with entities with joint control or significant interest

West Wales Kia is a company under common control but not ownership.
 This company is party to sale and rental of vehicles to and from Anthony Motors Ltd.
 Transactions are invoiced under normal credit terms.
 

Income and receivables from related parties

2019	Entities with joint control or significant influence £
Sale of goods	104,323

2018	Entities with joint control or significant influence £
Sale of goods	175,039

Expenditure with and payables to related parties

2019	Entities with joint control or significant influence £
Purchase of goods	115,616

Page 21

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2019 (continued)

21	Related party transactions (continued)

2018	Entities with joint control or significant influence £
Purchase of goods	115,800

Page 22