Butlers Automotive Limited - Accounts to registrar (filleted) - small 18.2

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

BUTLERS AUTOMOTIVE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTOR:

D Clarke

REGISTERED OFFICE:

Thomas Street

Barnsley

S70 1LH

REGISTERED NUMBER:

01696328 (England and Wales)

ACCOUNTANTS:

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

FIXED ASSETS

Tangible assets

4

136,775

18,290

CURRENT ASSETS

Stocks

265,964

116,929

Debtors

5

199,933

108,391

Cash at bank and in hand

14,322

6,376

480,219

231,696

CREDITORS

Amounts falling due within one year

6

501,880

179,284

NET CURRENT (LIABILITIES)/ASSETS

(21,661

)

52,412

TOTAL ASSETS LESS CURRENT LIABILITIES

115,114

70,702

CREDITORS

Amounts falling due after more than one year

7

(4,288

)

-

PROVISIONS FOR LIABILITIES

(1,106

)

-

NET ASSETS

109,720

70,702

CAPITAL AND RESERVES

Called up share capital

60,000

60,000

Retained earnings

49,720

10,702

109,720

70,702

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 September 2019 and were signed by:

D Clarke - Director

1.	STATUTORY INFORMATION

Butlers Automotive 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The results are shown for the ten month period to 31st December 2017. As such, the comparatives are not entirely

comparable.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Over the term of the lease

Plant and machinery etc

-

25% on reducing balance and 15% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under

hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated

over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2018

52,000

11,344

59,598

Additions

6,670

69,847

45,685

At 31 December 2018

58,670

81,191

105,283

DEPRECIATION

At 1 January 2018

39,867

11,193

56,382

Charge for year

903

10,500

7,335

Eliminated on disposal

-

-

-

At 31 December 2018

40,770

21,693

63,717

NET BOOK VALUE

At 31 December 2018

17,900

59,498

41,566

At 31 December 2017

12,133

151

3,216

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2018

21,956

-

144,898

Additions

20,593

1,458

144,253

Disposals

(7,319

)

-

(7,319

)

At 31 December 2018

35,230

1,458

281,832

DEPRECIATION

At 1 January 2018

19,166

-

126,608

Charge for year

5,614

486

24,838

Eliminated on disposal

(6,389

)

-

(6,389

)

At 31 December 2018

18,391

486

145,057

NET BOOK VALUE

At 31 December 2018

16,839

972

136,775

At 31 December 2017

2,790

-

18,290

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

9,743

At 31 December 2018

9,743

DEPRECIATION

Charge for year

2,436

At 31 December 2018

2,436

NET BOOK VALUE

At 31 December 2018

7,307

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

125,757

63,827

VAT

18,094

-

Prepayments and accrued income

56,082

44,564

199,933

108,391

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

3,144

-

Trade creditors

256,066

134,857

Social security and other taxes

2,987

1,944

VAT

-

761

Other creditors

193,300

15,959

Directors' current accounts

33,136

23,136

Accrued expenses

13,247

2,627

501,880

179,284

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

4,288

-

The following reproduces the text of the report prepared for the director 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 Director are not

required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2018 set out on pages one to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

Date: .............................................