Spencers MOT & Service Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09866477 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Spencers MOT & Service Centre Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

S W Gray

M I Jones

MJ Jones

REGISTERED OFFICE:

36 Mackintosh Road

Rackheath Ind. Estate

Norwich

NR13 6LJ

REGISTERED NUMBER:

09866477 (England and Wales)

ACCOUNTANTS:

Hornbeam Accountancy Services Ltd

Chartered Accountants

Hornbeam House

Bidwell Road

Rackheath

Norwich

Norfolk

NR13 6PT

FIXED ASSETS

Property, plant and equipment

4

45,000

63,098

CURRENT ASSETS

Inventories

2,026

2,026

Debtors

5

31,069

54,863

Cash in hand

200

759

33,295

57,648

CREDITORS

Amounts falling due within one year

6

126,141

159,455

NET CURRENT LIABILITIES

(92,846

)

(101,807

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(47,846

)

(38,709

)

CREDITORS

Amounts falling due after more than one year

7

5,222

19,152

NET LIABILITIES

(53,068

)

(57,861

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8

(53,070

)

(57,863

)

SHAREHOLDERS' FUNDS

(53,068

)

(57,861

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 12 March 2020 and were signed on its behalf by:

S W Gray - Director

M I Jones - Director

1.	STATUTORY INFORMATION

Spencers MOT & Service Centre 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

Revenue 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 etc

-

15% on cost and 10% on cost

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 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.

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 8 (2018 - 8 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2019

81,256

Disposals

(12,183

)

At 31 December 2019

69,073

DEPRECIATION

At 1 January 2019

18,158

Charge for year

5,915

At 31 December 2019

24,073

NET BOOK VALUE

At 31 December 2019

45,000

At 31 December 2018

63,098

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

31,069

53,131

Other debtors

-

1,732

31,069

54,863

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

24,643

24,724

Hire purchase contracts

7,042

10,777

Trade creditors

51,479

73,506

Taxation and social security

5,637

2,200

Other creditors

37,340

48,248

126,141

159,455

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Hire purchase contracts

5,222

19,152

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

-

19,152

8.

RESERVES

Retained

earnings

£

At 1 January 2019

(57,863

)

Profit for the year

4,793

At 31 December 2019

(53,070

)

9.	RELATED PARTY DISCLOSURES

The company was under the control of Mr M Jones and Mr S W Gray throughout the period.

At the year end the directors' were owed £11,464 (2018: £11,464) by the company in the form of their directors loan accounts

and £16,291 (2018: £25,235) was owed to Spencers Car Sales Ltd in the form of an intercompany loan account.

The following reproduces the text of the report prepared for the directors 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 Directors are not

required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of

Spencers MOT & Service Centre Ltd for the year ended 31 December 2019 which comprise the Income Statement, Balance Sheet and

the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Spencers MOT & Service Centre Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spencers MOT & Service Centre Ltd and state those matters that we have agreed to state to the Board of Directors of Spencers MOT & Service Centre Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spencers MOT & Service Centre Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spencers MOT & Service Centre Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spencers MOT & Service Centre Ltd. You consider that Spencers MOT & Service Centre Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Spencers MOT & Service Centre Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hornbeam Accountancy Services Ltd

Chartered Accountants

Hornbeam House

Bidwell Road

Rackheath

Norwich

Norfolk

NR13 6PT

12 March 2020