W.H. Hunter (Motors) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC036266 (Scotland)

W.H. HUNTER (MOTORS) LIMITED

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTOR:

A D Hunter

SECRETARY:

Mrs A Hunter

REGISTERED OFFICE:

W H Hunter Motors Ltd

Knockhill Racing Circuit

Saline

Dunfermline

Fife

KY12 9TF

REGISTERED NUMBER:

SC036266 (Scotland)

ACCOUNTANTS:

Harley Hepburn

28 Townsend Place

Kirkcaldy

Fife

KY1 1HB

BANKERS:

Clydesdale Bank Plc

64 High Street

Dunfermline

Fife

KY12 7DF

FIXED ASSETS

Tangible assets

2

37,508

42,414

Investment property

3

175,000

175,000

212,508

217,414

CURRENT ASSETS

Stocks

14,118

14,580

Debtors

21,993

22,393

Cash at bank

47,970

55,433

84,081

92,406

CREDITORS

Amounts falling due within one year

7,156

10,141

NET CURRENT ASSETS

76,925

82,265

TOTAL ASSETS LESS CURRENT LIABILITIES

289,433

299,679

CAPITAL AND RESERVES

Called up share capital

4

25,500

25,500

Revaluation reserve

102,115

102,115

Profit and loss account

161,818

172,064

SHAREHOLDERS' FUNDS

289,433

299,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 May 2015 and were signed by:

A D Hunter - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

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

-

at variable rates on reducing balance

Racing Vehicles

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net

realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow

moving, obsolete or damaged stock where the net realisable value is less than cost.

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the Balance Sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates that are expected to

apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantially

enacted at the Balance Sheet date.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the assets.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

175,414

Additions

7,495

Disposals

(2,221

)

At 31 March 2015

180,688

DEPRECIATION

At 1 April 2014

133,000

Charge for year

12,108

Eliminated on disposal

(1,928

)

At 31 March 2015

143,180

NET BOOK VALUE

At 31 March 2015

37,508

At 31 March 2014

42,414

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2014

and 31 March 2015

175,000

NET BOOK VALUE

At 31 March 2015

175,000

At 31 March 2014

175,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

5,500

Ordinary

£1

5,500

5,500

20,000

Deferred ordinary

£1

20,000

20,000

25,500

25,500

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £25,972 (2014 - £26,470) were paid to the director .

Included in debtors is a directors current account totalling £3,372.

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A D Hunter.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

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

financial statements of W.H. Hunter (Motors) Limited for the year ended 31 March 2015 which comprise the Profit and

Loss Account, the 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of W.H. Hunter (Motors) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W.H. Hunter (Motors) Limited and state those matters that we have agreed to state to the director of W.H. Hunter (Motors) Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that W.H. Hunter (Motors) Limited 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 W.H. Hunter (Motors) Limited. You consider that W.H. Hunter (Motors) Limited 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 W.H. Hunter (Motors)

Limited. 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.

Harley Hepburn

28 Townsend Place

Kirkcaldy

Fife

KY1 1HB

28 May 2015