Anthony Motors Limited - Period Ending 2020-01-31

ANTHONY MOTORS LIMITED - Company Information

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Registration number: 01418735

Anthony Motors Limited

Annual Report and Financial Statements

for the Year Ended 31 January 2020

Anthony Motors Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 7
Profit and Loss Account	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Financial Statements	12 to 23

Anthony Motors Limited

Company Information

Directors

Mr William Anthony Richards

Mr Justin Morgan Manley

Company secretary

Mr Richard Mervyn Powell

Registered office

Llanbadarn Road
Aberystwyth
Ceredigion
SY23 3QP

Auditors

PJE Audit Services Ltd
Registered Auditor
23 College Street
Lampeter
Ceredigion
SA48 7DY

Anthony Motors Limited

Strategic Report for the Year Ended 31 January 2020

The directors present their strategic report for the year ended 31 January 2020.

Principal activity

The principal activity of the company is motor dealers and garage services

Fair review of the business

The directors consider the performance of the company during the year ended 31st January 2020 to be satisfactory considering the commercial pressures experienced during 2019. These primarily related to the suppression of demand arising from Brexit uncertainty. Net profit margin has remained consistent at 2% (2019: 2.3%) demonstrating that the company has maintained strong sales performance and tight control over costs.

Principal risks and uncertainties

The current trading circumstances have been severely affected by the Covid crisis but the company continues to manage the situation profitably.
The directors expect Covid to be the main factor determining business success in the coming year with the potential of lockdown and isolation being prevalent.

Further issues relate to:-
- The EU Withdrawal agreement and the possibility of tariffs if a settlement is not reached before the end of 2020.
- The industry transition from Internal Combustion technology to electric vehicles and the associated costs of re-training and re-educating customers.

The directors are confident that to the extent that they can control these risks, they are and will continue to be properly managed.

Approved by the Board on 1 October 2020 and signed on its behalf by:

.........................................

Mr William Anthony Richards
Director

Anthony Motors Limited

Directors' Report for the Year Ended 31 January 2020

The directors present their report and the financial statements for the year ended 31 January 2020.

Directors of the company

The directors who held office during the year were as follows:

Mr William Anthony Richards

Mr Justin Morgan Manley

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved by the Board on 1 October 2020 and signed on its behalf by:

.........................................

Mr William Anthony Richards
Director

Anthony Motors Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 The Financial Reporting Standard applicable to medium sized entities. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Anthony Motors Limited

Independent Auditor's Report to the Members of Anthony Motors Limited

Opinion

We have audited the financial statements of Anthony Motors Limited (the 'company') for the year ended 31 January 2020, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 31 January 2020 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

•	the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
•	the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Anthony Motors Limited

Independent Auditor's Report to the Members of Anthony Motors Limited (continued)

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors’ remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

•

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.

Anthony Motors Limited

Independent Auditor's Report to the Members of Anthony Motors Limited (continued)

•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

•

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

•	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

•

Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................

D R Patterson BA(Hons), FCA, FCCA (Senior Statutory Auditor)
For and on behalf of PJE Audit Services Ltd, Statutory Auditor

23 College Street
Lampeter
Ceredigion
SA48 7DY

14 October 2020

Anthony Motors Limited

Profit and Loss Account for the Year Ended 31 January 2020

	Note	2020 £	2019 £
Turnover	3	16,489,951	16,554,060
Cost of sales		(14,430,219)	(14,384,185)
Gross profit		2,059,732	2,169,875
Administrative expenses		(1,817,535)	(1,854,637)
Other operating income	4	150,572	133,150
Operating profit	5	392,769	448,388
Interest payable and similar expenses	6	(63,047)	(67,464)
		(63,047)	(67,464)
Profit before tax		329,722	380,924
Taxation	10	(69,780)	(72,187)
Profit for the financial year		259,942	308,737

There are no items of other comprehensive income to report.

Anthony Motors Limited

Balance Sheet as at 31 January 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	11	1,356,881	1,389,098
Current assets
Stocks	12	3,662,883	4,036,326
Debtors	13	460,705	601,750
Other financial assets		-	38,199
Cash at bank and in hand		810,172	933,507
		4,933,760	5,609,782
Creditors: Amounts falling due within one year	15	(2,688,024)	(3,434,526)
Net current assets		2,245,736	2,175,256
Total assets less current liabilities		3,602,617	3,564,354
Creditors: Amounts falling due after more than one year	15	-	(148,104)
Provisions for liabilities	16	(62,665)	(66,240)
Net assets		3,539,952	3,350,010
Capital and reserves
Called up share capital	17	124	124
Share premium reserve		20,859	20,859
Profit and loss account		3,518,969	3,329,027
Total equity		3,539,952	3,350,010

Approved and authorised by the Board on 1 October 2020 and signed on its behalf by:

.........................................

Mr William Anthony Richards
Director

Anthony Motors Limited

Statement of Changes in Equity for the Year Ended 31 January 2020

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 February 2019	124	20,859	3,329,027	3,350,010
Profit for the year	-	-	259,942	259,942
Total comprehensive income	-	-	259,942	259,942
Dividends	-	-	(70,000)	(70,000)
At 31 January 2020	124	20,859	3,518,969	3,539,952

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 February 2018	124	20,859	3,119,490	3,140,473
Profit for the year	-	-	308,737	308,737
Total comprehensive income	-	-	308,737	308,737
Dividends	-	-	(99,200)	(99,200)
At 31 January 2019	124	20,859	3,329,027	3,350,010

Included within equity is a balance for undistributable, un-realised profits that the directors have elected to title "revaluation reserve" for ease of identicication.

Anthony Motors Limited

Statement of Cash Flows for the Year Ended 31 January 2020

	Note	2020 £	2019 £
Cash flows from operating activities
Profit for the year		259,942	308,737
Adjustments to cash flows from non-cash items
Depreciation and amortisation	5	87,645	92,183
Finance costs	6	63,047	67,464
Income tax expense	10	69,780	72,187
		480,414	540,571
Working capital adjustments
Decrease/(increase) in stocks	12	373,443	(221,008)
Decrease/(increase) in trade debtors	13	141,045	(208,884)
(Decrease)/increase in trade creditors	15	(192,255)	175,687
Cash generated from operations		802,647	286,366
Income taxes paid	10	(91,062)	(81,923)
Net cash flow from operating activities		711,585	204,443
Cash flows from investing activities
Acquisitions of tangible assets		(55,428)	(17,109)
Cash flows from financing activities
Interest paid	6	(63,047)	(67,464)
Repayment of bank borrowing		(181,163)	(27,034)
Repayment of other borrowing		(465,282)	(77,537)
Director's Drawings		(70,000)	(99,200)
Net cash flows from financing activities		(779,492)	(271,235)
Net decrease in cash and cash equivalents		(123,335)	(83,901)
Cash and cash equivalents at 1 February		933,507	1,017,408
Cash and cash equivalents at 31 January		810,172	933,507

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Llanbadarn Road
Aberystwyth
Ceredigion
SY23 3QP
United Kingdom

These financial statements were authorised for issue by the Board on 1 October 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

2	Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold buildings	1-1.5% straight line on cost
Plant, equipment, fixtures & fittings	20% straight line on cost
Showroom fit-outs	10% straight line on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

2	Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

The bank has first fixed charges over the land & buildings of the company. In addition the bank holds first floating charges over the assets of the company, and the providers of stocking loans hold secondary floating charges over the assets of the company

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Revenue

The analysis of the company's revenue for the year from continuing operations is as follows:

	2020 £	2019 £
Sale of goods	14,686,849	14,697,848
Rendering of services	1,803,102	1,856,212
	16,489,951	16,554,060

4	Other operating income

The analysis of the company's other operating income for the year is as follows:

	2020 £	2019 £
Miscellaneous other operating income	150,572	133,150

5	Operating profit

Arrived at after charging/(crediting)

	2020 £	2019 £
Depreciation expense	87,645	92,183

6	Interest payable and similar expenses

	2020 £	2019 £
Interest on bank overdrafts and borrowings	1,058	6,042
Interest expense on other finance liabilities	61,989	61,422
	63,047	67,464

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

7	Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	2020 £	2019 £
Wages and salaries	1,051,652	1,094,765
Other employee expense	31,809	22,611
	1,083,461	1,117,376

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

	2020 No.	2019 No.
Administration and support	4	4
Sales, marketing and distribution	35	38
	39	42

8	Directors' remuneration

The directors' remuneration for the year was as follows:

	2020 £	2019 £
Remuneration	38,000	38,699

9	Auditors' remuneration

	2020 £	2019 £
Audit of the financial statements	7,500	7,525
Other fees to auditors
Taxation compliance services	500	500
All other non-audit services	1,000	1,000
	1,500	1,500

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

Taxation

Tax charged/(credited) in the income statement

	2020 £	2019 £
Current taxation
UK corporation tax	68,024	85,731
UK corporation tax adjustment to prior periods	5,331	7,317
	73,355	93,048
Deferred taxation
Arising from origination and reversal of timing differences	(3,575)	(20,861)
Tax expense in the income statement	69,780	72,187

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2019 - the same as the standard rate of corporation tax in the UK) of 19% (2019 - 19%).

The differences are reconciled below:

	2020 £	2019 £
Profit before tax	329,722	380,924
Corporation tax at standard rate	62,647	72,376
Increase in UK and foreign current tax from adjustment for prior periods	5,331	7,317
Tax increase from effect of capital allowances and depreciation	5,377	13,355
Tax decrease from other short-term timing differences	(3,575)	(20,861)
Total tax charge	69,780	72,187

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

11	Tangible assets

	Freehold Land and buildings £	Furniture, fittings and equipment £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2019	1,229,737	739,876	291,568	2,261,181
Additions	-	33,686	21,742	55,428
At 31 January 2020	1,229,737	773,562	313,310	2,316,609
Depreciation
At 1 February 2019	211,043	419,950	241,090	872,083
Charge for the year	9,480	57,961	20,204	87,645
At 31 January 2020	220,523	477,911	261,294	959,728
Carrying amount
At 31 January 2020	1,009,214	295,651	52,016	1,356,881
At 31 January 2019	1,018,694	319,926	50,478	1,389,098

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

Stocks

	2020 £	2019 £
Work in progress	275,977	261,447
Other inventories	3,386,906	3,774,879
	3,662,883	4,036,326

Debtors

	2020 £	2019 £
Trade debtors	366,244	455,929
Other debtors	53,240	60,481
Prepayments	41,221	85,340
	460,705	601,750

14	Cash and cash equivalents

	2020 £	2019 £
Cash at bank	810,172	933,507

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

Creditors

	Note	2020 £	2019 £
Due within one year
Loans and borrowings	18	2,274,312	2,810,852
Trade creditors		201,131	395,663
Social security and other taxes		60,021	44,393
Accruals		84,536	97,887
Income tax liability	10	68,024	85,731
		2,688,024	3,434,526
Due after one year
Loans and borrowings	18	-	148,104

16	Deferred tax and other provisions

	Deferred tax £	Total £
At 1 February 2019	66,240	66,240
Increase (decrease) in existing provisions	(3,575)	(3,575)
At 31 January 2020	62,665	62,665

17	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary of £1 each	124	124	124	124

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

18	Loans and borrowings

	2020 £	2019 £
Non-current loans and borrowings
Bank borrowings	-	148,104

	2020 £	2019 £
Current loans and borrowings
Bank borrowings	-	33,057
Other borrowings	2,274,312	2,777,795
	2,274,312	2,810,852

Dividends

	2020	2019
	£	£
Interim dividend of £565.00 (2019 - £800.00) per ordinary share	70,000	99,200

20	Related party transactions

The company is owned 100% by Mr W A Richards. Mr W A Richards is the controlling party.

Transactions with directors

2020	At 1 February 2019 £	Advances to directors £	Repayments by director £	At 31 January 2020 £
Mr William Anthony Richards
Director's loan account	(62,719)	132,015	(70,000)	(704)

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

20	Related party transactions (continued)

2019	At 1 February 2018 £	Advances to directors £	Repayments by director £	At 31 January 2019 £
Mr William Anthony Richards
Director's loan account	(36)	36,517	(99,200)	(62,719)

Directors guarantees

During the year the company entered into no guarantees on behalf of the directors.

Other transactions with directors

No interest is charged on the balance due to the director and the amount is repayable in full on demand.

Summary of transactions with entities with joint control or significant interest

West Wales Kia is a company under common control but not ownership.
This company is party to sale and rental of vehicles to and from Anthony Motors Ltd. West Wales Kia also charges a management charge to Anthony Motors Ltd.
Transactions are invoiced under normal credit terms.

Income and receivables from related parties

2020	Entities with joint control or significant influence £
Sale of goods	113,125

2019	Entities with joint control or significant influence £
Sale of goods	104,323

Expenditure with and payables to related parties

Anthony Motors Limited

Notes to the Financial Statements for the Year Ended 31 January 2020 (continued)

20	Related party transactions (continued)

2020	Entities with joint control or significant influence £
Purchase of goods	69,870
Rendering of services	39,000
	108,870

2019	Entities with joint control or significant influence £
Purchase of goods	115,616