Minster Car Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10332804 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Minster Car Co Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L S Dawson

S Dawson

REGISTERED OFFICE:

Unit 2 Northside, Freightliner Road

Brighton Street Industrial Estate

Hull

HU3 4UW

REGISTERED NUMBER:

10332804 (England and Wales)

ACCOUNTANTS:

Marshall & Co

Chartered Accountants

& Chartered Tax Advisers

The Bloc

Springfield Way

Anlaby

Kingston upon Hull

East Yorkshire

HU10 6RJ

FIXED ASSETS

Tangible assets

4

22,604

26,403

CURRENT ASSETS

Stocks

343,088

426,973

Debtors

5

78,877

74,289

Cash at bank and in hand

144,568

26,274

566,533

527,536

CREDITORS

Amounts falling due within one year

6

485,443

499,497

NET CURRENT ASSETS

81,090

28,039

TOTAL ASSETS LESS CURRENT LIABILITIES

103,694

54,442

PROVISIONS FOR LIABILITIES

202

307

NET ASSETS

103,492

54,135

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

103,392

54,035

103,492

54,135

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 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 27 March 2020 and were signed on its behalf by:

L S Dawson - Director

1.	STATUTORY INFORMATION

Minster Car Co 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.

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

-

25% on cost, 15% on cost and in accordance with the property

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

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 4 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2018

32,348

Additions

1,341

At 31 August 2019

33,689

DEPRECIATION

At 1 September 2018

5,945

Charge for year

5,140

At 31 August 2019

11,085

NET BOOK VALUE

At 31 August 2019

22,604

At 31 August 2018

26,403

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

44,748

35,740

Other debtors

34,129

38,549

78,877

74,289

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

82,879

211,916

Taxation and social security

44,132

18,670

Other creditors

358,432

268,911

485,443

499,497

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 were paid to the directors .

At the year end the Company owed Dawson Trading Limited £258,759 (2018 - £228,759). The loan is non-interest

bearing and there are no formal terms of repayment.

At the year end the Company was owed £2,580 (2018 - £639) by L S Dawson who is the Director of the Company.

At the year end the Company was owed £11,057 (2018 - £503) by S Dawson who is a Director of the Company after

the year end.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is The Directors.