2CVGB Parts Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10161646 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

2CVGB PARTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M N Dunn

T S Saint

REGISTERED OFFICE:

116 Gravel Hill

Coventry

West Midlands

CV4 9JN

REGISTERED NUMBER:

10161646 (England and Wales)

ACCOUNTANTS:

Bernard Rogers & Co

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

FIXED ASSETS

Tangible assets

3

57,520

65,090

CURRENT ASSETS

Stocks

81,499

67,015

Debtors

4

927

1,800

Cash at bank

59,134

76,817

141,560

145,632

CREDITORS

Amounts falling due within one year

5

227,156

228,618

NET CURRENT LIABILITIES

(85,596

)

(82,986

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(28,076

)

(17,896

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(28,176

)

(17,996

)

(28,076

)

(17,896

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 14 September 2019 and were signed on its behalf by:

M N Dunn - Director

T S Saint - Director

1.	STATUTORY INFORMATION

2cvgb Parts Ltd 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.

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.

Plant and machinery

-

10% on cost

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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2018

81,100

Additions

600

At 31 March 2019

81,700

DEPRECIATION

At 1 April 2018

16,010

Charge for year

8,170

At 31 March 2019

24,180

NET BOOK VALUE

At 31 March 2019

57,520

At 31 March 2018

65,090

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

434

1,800

Other debtors

493

-

927

1,800

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

5

1,289

Amounts owed to group undertakings

226,651

226,651

Taxation and social security

-

178

Other creditors

500

500

227,156

228,618

6.	CONTROLLING PARTY

The controlling party is the directors.

The ultimate controlling party is Deux Chevaux Club of Great Britain (2CVGB) Limited.