Westfield Motors (Peterhead) Limited - Accounts to registrar (filleted) - small 18.2
Westfield Motors (Peterhead) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2018 |
| for |
| Westfield Motors (Peterhead) Limited |
| Westfield Motors (Peterhead) Limited (Registered number: SC234665) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Westfield Motors (Peterhead) Limited |
| Company Information |
| for the Year Ended 31 August 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| Glebefield House |
| 21 Links Terrace |
| Peterhead |
| Aberdeenshire |
| AB42 2XA |
| Westfield Motors (Peterhead) Limited (Registered number: SC234665) |
| Balance Sheet |
| 31 August 2018 |
| 31.8.18 | 31.8.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Westfield Motors (Peterhead) Limited (Registered number: SC234665) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2018 |
| 1. | STATUTORY INFORMATION |
| Westfield Motors (Peterhead) Limited is a |
| 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 |
| The financial statements for the year ended 31 August 2017 are the first financial statements that comply with |
| FRS102 Section 1A small entities. The date of transition is 1 January 2016. The transition has resulted in a small |
| number of changes in accounting policies to those used previously. |
| 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 |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at |
| the end of each accounting period. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Debtors and creditors receivable/ payable within one year |
| Debtors and creditors with no stated interest and receivable or payable within one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
| administrative costs. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Westfield Motors (Peterhead) Limited (Registered number: SC234665) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor |
| property | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 17,472 | 14,899 |
| Other creditors |
| Directors' current accounts | 22,614 | 22,614 |
| Accrued expenses |
| 7. | RELATED PARTY DISCLOSURES |
| The company made a loan to Mayford Ltd, a company which is an associate to Westfield Motors (Peterhead) |
| Limited. The loan was for £140,000 and this loan was outstanding at the balance sheet date. No interest will be |
| charged on the loan and the loan is repayable on demand. |