Ticehurst Motors Limited - Accounts to registrar (filleted) - small 18.2
Ticehurst Motors Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2019 |
| for |
| Ticehurst Motors Limited |
| Ticehurst Motors Limited (Registered number: 04371613) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Ticehurst Motors Limited |
| Company Information |
| for the Year Ended 31 May 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Shadwell House |
| 65 Lower Green Road |
| Tunbridge Wells |
| Kent |
| TN4 8TW |
| Ticehurst Motors Limited (Registered number: 04371613) |
| Statement of Financial Position |
| 31 May 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Inventories | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 |
| 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. |
| Ticehurst Motors Limited (Registered number: 04371613) |
| Statement of Financial Position - continued |
| 31 May 2019 |
| 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 by: |
| Ticehurst Motors Limited (Registered number: 04371613) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2019 |
| 1. | STATUTORY INFORMATION |
| Ticehurst Motors 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 |
| Significant judgements and estimates |
| There are no significant judgements or estimates pertaining to the preparation of these accounts. |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Goodwill |
| Goodwill is amortised over its estimated useful life of 10 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 |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Inventories 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| Ticehurst Motors Limited (Registered number: 04371613) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Functional currency |
| The functional currency of the company is £ Sterling. |
| Financial instruments |
| Basic financial instruments comprising bank and cash balances are stated at fair value. |
| 3. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 June 2018 |
| and 31 May 2019 |
| AMORTISATION |
| At 1 June 2018 |
| and 31 May 2019 |
| NET BOOK VALUE |
| At 31 May 2019 |
| At 31 May 2018 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 May 2019 |
| DEPRECIATION |
| At 1 June 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2019 |
| NET BOOK VALUE |
| At 31 May 2019 |
| At 31 May 2018 |
| 5. | INVENTORIES |
| 2019 | 2018 |
| £ | £ |
| Stocks |
| Ticehurst Motors Limited (Registered number: 04371613) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Value added tax | 41,589 | 39,940 |
| Proposed dividends | 30,000 | 30,000 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Director's loan - A Tucker | 567 | 462 |
| Director's loan - D Tucker | 1,213 | 635 |
| Director's loan - M Tucker | 620 | 120 |
| 9. | PROVISIONS FOR LIABILITIES |
| 2019 | 2018 |
| £ | £ |
| Deferred tax | 7,343 | 10,224 |
| Deferred |
| tax |
| £ |
| Balance at 1 June 2018 |
| Accelerated capital allowances | (2,881 | ) |
| Balance at 31 May 2019 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| Ticehurst Motors Limited (Registered number: 04371613) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2019 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 June 2018 |
| Profit for the year |
| Dividends | ( |
) |
| Related party loan write off | 74,738 |
| At 31 May 2019 |
| 12. | ULTIMATE CONTROLLING PARTY |
| No one shareholder has overall control of the company. |