Practical Motorists (Bridlington) Ltd - Accounts to registrar (filleted) - small 18.2

Practical Motorists (Bridlington) Ltd - Accounts to registrar (filleted) - small 18.2

PRACTICAL MOTORISTS (BRIDLINGTON) LIMITED - Company Information

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REGISTERED NUMBER: 06657877 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

PRACTICAL MOTORISTS (BRIDLINGTON)
LIMITED
PRACTICAL MOTORISTS (BRIDLINGTON)
LIMITED (REGISTERED NUMBER: 06657877)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRACTICAL MOTORISTS (BRIDLINGTON)
LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2019







DIRECTORS: A Johnson
Mrs N A Johnson





SECRETARY: Mrs N A Johnson





REGISTERED OFFICE: Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF





REGISTERED NUMBER: 06657877 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF
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PRACTICAL MOTORISTS (BRIDLINGTON)
LIMITED (REGISTERED NUMBER: 06657877)

BALANCE SHEET
31 August 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,279 2,260
2,279 2,260

CURRENT ASSETS
Stocks 16,500 26,000
Debtors 6 278 286
Cash at bank and in hand 33,238 26,772
50,016 53,058
CREDITORS
Amounts falling due within one year 7 51,485 54,381
NET CURRENT LIABILITIES (1,469 ) (1,323 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
810
937

PROVISIONS FOR LIABILITIES 364 346
NET ASSETS 446 591

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 346 491
SHAREHOLDERS' FUNDS 446 591

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 notes form part of these financial statements

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PRACTICAL MOTORISTS (BRIDLINGTON)
LIMITED (REGISTERED NUMBER: 06657877)

BALANCE SHEET - continued
31 August 2019


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 23 January 2020 and were signed on its behalf by:





Mrs N A Johnson - Director


The notes form part of these financial statements

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PRACTICAL MOTORISTS (BRIDLINGTON)
LIMITED (REGISTERED NUMBER: 06657877)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2019


1. STATUTORY INFORMATION

Practical Motorists(Bridlington) Limited is a private company, limited by shares, registered in England. The company's
registered number and registered office address can be found on the Company Information page.

The financial statements are presented in Sterling, which is the functional currency of the company.

The principal activity of the company is the retail of motor spares and accessories.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going
concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to
events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value
added tax and other sales taxes.

Turnover is recognised at point of sale.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 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.

-4- continued...
PRACTICAL MOTORISTS (BRIDLINGTON)
LIMITED (REGISTERED NUMBER: 06657877)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2019


2. ACCOUNTING POLICIES - continued

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2018
and 31 August 2019 7,500
AMORTISATION
At 1 September 2018
and 31 August 2019 7,500
NET BOOK VALUE
At 31 August 2019 -
At 31 August 2018 -

-5- continued...
PRACTICAL MOTORISTS (BRIDLINGTON)
LIMITED (REGISTERED NUMBER: 06657877)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2019


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2018 6,912
Additions 737
At 31 August 2019 7,649
DEPRECIATION
At 1 September 2018 4,652
Charge for year 718
At 31 August 2019 5,370
NET BOOK VALUE
At 31 August 2019 2,279
At 31 August 2018 2,260

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Other debtors 278 286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 8,050 9,201
Taxation and social security 9,266 11,441
Other creditors 34,169 33,739
51,485 54,381

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