Anthony Betts & Company Limited - Accounts to registrar (filleted) - small 18.2
Anthony Betts & Company Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 |
| FOR |
| ANTHONY BETTS & COMPANY LIMITED |
| ANTHONY BETTS & COMPANY LIMITED (REGISTERED NUMBER: 03609552) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ANTHONY BETTS & COMPANY LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 June 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| ECL House |
| Lake Street |
| Leighton Buzzard |
| Bedfordshire |
| LU7 1RT |
| ANTHONY BETTS & COMPANY LIMITED (REGISTERED NUMBER: 03609552) |
| BALANCE SHEET |
| 30 June 2021 |
| 30.6.21 | 30.6.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| ANTHONY BETTS & COMPANY LIMITED (REGISTERED NUMBER: 03609552) |
| BALANCE SHEET - continued |
| 30 June 2021 |
| 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 |
| ANTHONY BETTS & COMPANY LIMITED (REGISTERED NUMBER: 03609552) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2021 |
| 1. | STATUTORY INFORMATION |
| Anthony Betts & Company Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The company's turnover represents the value, excluding value added tax, of goods supplied to customers during the year. A sale is recognised when revenue and associated costs can be measured reliably and future economic benefits are probable. Revenue is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts and value added tax. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Government grants |
| Government grants are recognised in the Income Statement so as to match them with the expenditure towards which they are intended to contribute. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| New vehicle consignment stock relates to vehicles which due to the significant risks and rewards of ownership passing to the company are regarded effectively as being under the control of the company.These vehicles are included on the balance sheet, although legal title has not passed to the company. The corresponding liability is included as a consignment creditor within other creditors and is secured directly on these vehicles. |
| 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 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. |
| ANTHONY BETTS & COMPANY LIMITED (REGISTERED NUMBER: 03609552) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Debtors receivable and creditors payable |
| Debtors and creditors with no stated interest rate and receivable or payable within or after one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Short | Plant and |
| leasehold | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2020 |
| and 30 June 2021 |
| DEPRECIATION |
| At 1 July 2020 |
| Charge for year |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| 5. | STOCKS |
| 30.6.21 | 30.6.20 |
| £ | £ |
| Vehicles | 564,097 | 1,473,733 |
| New vehicle consignment stock |
| Parts and other stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.21 | 30.6.20 |
| £ | £ |
| Trade debtors |
| Tax |
| Deferred tax asset |
| Prepayments and accrued income |
| ANTHONY BETTS & COMPANY LIMITED (REGISTERED NUMBER: 03609552) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.21 | 30.6.20 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 233,712 | 124,291 |
| Other creditors | 416,936 | 280,165 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.6.21 | 30.6.20 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more than 5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years | - | 41,667 |
| 9. | LEASING AGREEMENTS |
| As at 30 June 2021, the company had commitments of £127,084 (2020 - £197,084). This was all in respect of two operating leases which expire in March 2023 and July 2023. |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.6.21 | 30.6.20 |
| £ | £ |
| Bank loans |
| Vehicle creditors | 334,127 | 792,949 |
| Consignment creditors | 414,818 | 280,165 |
| 11. | DEFERRED TAX |
| £ |
| Balance at 1 July 2020 | ( |
) |
| Provided during year |
| Balance at 30 June 2021 | ( |
) |
| The deferred tax asset relates to depreciation charged in excess of capital allowances claimed. |
| ANTHONY BETTS & COMPANY LIMITED (REGISTERED NUMBER: 03609552) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2021 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.6.21 | 30.6.20 |
| value: | £ | £ |
| Ordinary | £1 | 150,000 | 150,000 |
| 13. | POST BALANCE SHEET EVENTS |
| The company has not been adversely affected by the global Covid-19 pandemic and since the year end has continued to trade at expected levels. |