Cardiff Bay Auto Centre Limited
Cardiff Bay Auto Centre Limited
Registered number: 03913874
Unaudited Financial Statements
For The Year Ended 31 March 2019
Lewis Ballard BBB Ltd
Cardiff Bay Auto Centre Limited
Unaudited Financial Statements
For The Year Ended 31 March 2019
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Cardiff Bay Auto Centre Limited
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
03913874
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| CURRENT ASSETS | |||||
| Stocks | 7 |
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| Debtors | 8 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 9 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 10 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 16,367 | 14,089 | |||
Page 1
Cardiff Bay Auto Centre Limited
Balance Sheet (continued)
As at
31 March 2019
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Cardiff Bay Auto Centre Limited
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of 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 directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.6.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
4.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Manufacturing |
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Page 3
Cardiff Bay Auto Centre Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
6.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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7.
Stocks
| 2019 | 2018 | ||
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| £ | £ | ||
| Stock |
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8.
Debtors
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| Due within one year | |||
| Trade debtors |
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| VAT |
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Page 4
Cardiff Bay Auto Centre Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
9.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Corporation tax |
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| Other taxes and social security |
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| Pension Creditors |
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| Accrued expenses |
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| Director's loan account |
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10.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
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| £ | £ | ||
| Deferred tax |
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12.
Pension Commitments
The company operates a defined contribution pension scheme for its employess. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £52 (PY £21) were due to the fund.
13.
Directors Advances, Credits and Guarantees
Dividends paid to directors
| 2019 | 2018 | |
|---|---|---|
| £ | £ | |
| Mr Laurence Parfitt | 6,000 | 6,000 |
Page 5
Cardiff Bay Auto Centre Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
14.
Dividends
| 2019 | 2018 | ||
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| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 6,000 | 6,000 | ||
15.
Related Party Transactions
As at the balance sheet date, the company owed the director £4,638 (2018: £838).
L S Parfitt is also director and shareholder of Parfitt Tyre Co Limited.
16.
Ultimate Controlling Party
The company's ultimate controlling party is Laurence Parfitt by virtue of his ownership of 100% of the issued share capital in the company.
17.
General Information
Cardiff Bay Auto Centre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03913874 . The registered office is Unit 5, Seawall Road, Tremorfa, Cardiff, South Glamorgan, CF24 5TH.
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