Cavendish M.O.T. Centre Limited - Accounts to registrar (filleted) - small 18.2

CAVENDISH M.O.T. CENTRE LIMITED

Unaudited Financial Statements

for the Year Ended 31st August 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Murphy

REGISTERED OFFICE:

1 Abbots Quay

Monks Ferry

Birkenhead

Merseyside

CH41 5LH

REGISTERED NUMBER:

04480139 (England and Wales)

FIXED ASSETS

Intangible assets

4

9,000

12,000

Tangible assets

5

7,754

10,139

16,754

22,139

CURRENT ASSETS

Debtors

6

2,743

8,865

Cash at bank and in hand

8,202

4,628

10,945

13,493

CREDITORS

Amounts falling due within one year

7

27,620

32,989

NET CURRENT LIABILITIES

(16,675

)

(19,496

)

TOTAL ASSETS LESS CURRENT LIABILITIES

79

2,643

CREDITORS

Amounts falling due after more than one year

8

-

2,228

NET ASSETS

79

415

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

9

76

412

SHAREHOLDERS' FUNDS

79

415

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2019 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 and authorised for issue on 29th May 2020 and were signed by:

M J Murphy - Director

1.	STATUTORY INFORMATION

Cavendish M.O.T. Centre 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Significant judgement & estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The

areas in the financial statements where these judgements and estimates have been made include:

- The useful economic lives of tangible fixed assets.

- The useful economic lives of intangible fixed assets.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of

not more than 24 hours.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured

initially at fair value, net of transaction costs.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st September 2018

and 31st August 2019

60,000

AMORTISATION

At 1st September 2018

48,000

Charge for year

3,000

At 31st August 2019

51,000

NET BOOK VALUE

At 31st August 2019

9,000

At 31st August 2018

12,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st September 2018

73,710

3,379

17,543

94,632

Additions

-

-

199

199

At 31st August 2019

73,710

3,379

17,742

94,831

DEPRECIATION

At 1st September 2018

64,121

3,319

17,053

84,493

Charge for year

2,397

15

172

2,584

At 31st August 2019

66,518

3,334

17,225

87,077

NET BOOK VALUE

At 31st August 2019

7,192

45

517

7,754

At 31st August 2018

9,589

60

490

10,139

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

2,743

8,865

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

3,065

5,952

Trade creditors

3,488

6,529

Taxation and social security

20,996

20,437

Other creditors

71

71

27,620

32,989

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

-

2,228

9.

RESERVES

Retained

earnings

£

At 1st September 2018

412

Profit for the year

54,764

Dividends

(55,100

)

At 31st August 2019

76

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st August 2019 and

31st August 2018:

2019

2018

£

£

M J Murphy

Balance outstanding at start of year

8,865

7,106

Amounts advanced

2,743

8,865

Amounts repaid

(8,865

)

(7,106

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,743

8,865