Anthony Motors Ltd - Period Ending 2016-01-31

Registration number: 01418735

Anthony Motors Ltd

Annual Report and Financial Statements

for the Year Ended 31 January 2016

PJE Chartered Accountants
Registered Auditor
PJE, CHARTERED ACCOUNTANTS
23 COLLEGE STREET
LAMPETER
CEREDIGION
SA48 7DY

Anthony Motors Ltd

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Financial Statements	12 to 21

Anthony Motors Ltd

Company Information

Directors

Mr W A Richards Mr J M Manley

Company secretary

Mr R M Powell

Registered office

Llanbadarn Road Aberystwyth Ceredigion SY23 3QP

Auditors

PJE Chartered Accountants Registered Auditor PJE, CHARTERED ACCOUNTANTS 23 COLLEGE STREET LAMPETER CEREDIGION SA48 7DY

Page 1

Anthony Motors Ltd

Strategic Report for the Year Ended 31 January 2016

The Directors present their strategic report for the year ended 31 January 2016.

Principal activity

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

Fair review of the business

The directors are delighted with the results achieved in the year; particularly taking into account seven months of disruption while investing in an exciting upgrade of showroom facilities and offices at the main site. The financial position, liquidity and solvency of the company remain strong at, and after, the year end.

Principal risks and uncertainties

The directors continually consider risk and uncertainty in the business and in its market. They have not identified any significant risk to the achievement of the company's strategic objectives, and they do not believe that there are any key risks or uncertainties that warrant discussion or disclosure in this report.

Approved by the Board on 17 October 2016 and signed on its behalf by:

.........................................
Mr R M Powell
Company secretary

Page 2

Anthony Motors Ltd

Directors' Report for the Year Ended 31 January 2016

The Directors present their report and the financial statements for the year ended 31 January 2016.

Directors of the Company

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

Mr W A Richards

Mr J M Manley

Dividends

The directors recommend a final dividend payment of £Nil be made in respect of the financial year ended 31 January 2016. This dividend has not been recognised as a liability in the financial statements.

Financial instruments

Objectives and policies

The company does not require a policy for financial instruments. It has no securities and has no exchange-related or over-the-counter derivatives. The company does not make loans. Where it borrows money, it does so under the terms of the lenders' contracts.

Price risk, credit risk, liquidity risk and cash flow risk

The Directors do not believe that there is any significant likelihood of these risks in the foreseeable future.

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 17 October 2016 and signed on its behalf by:

.........................................
Mr R M Powell
Company secretary

Page 3

Anthony Motors Ltd

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

Director
s

to prepare financial statements for each financial year. Under that law the

Director
s 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

Director
s

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

Director
s 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

Director
s 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.

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.

Page 4

Anthony Motors Ltd

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

We have audited the financial statements of Anthony Motors Ltd for the year ended 31 January 2016, set out on pages 7 to 21. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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.

Respective responsibilities of Directors and auditor

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. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors to the financial statements.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the Company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on the financial statements

In our opinion the financial statements:

• give a true and fair view of the state of the Company 's affairs as at 31 January 2016 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.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion 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.

Matters on which we are required to report by exception
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

Director
s’ remuneration specified by law are not made; or
•
we have not received all the information and explanations we require for our audit.

Page 5

Anthony Motors Ltd

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

......................................
SA Longworth FCA (Senior Statutory Auditor)
For and on behalf of PJE Chartered Accountants, Registered Auditor

PJE, CHARTERED ACCOUNTANTS
23 COLLEGE STREET
LAMPETER
CEREDIGION
SA48 7DY

17 October 2016

Page 6

Anthony Motors Ltd

Profit and Loss Account for the Year Ended 31 January 2016

	Note	2016  £	2015  £
Turnover	3	16,238,617	17,398,628
Cost of sales		(14,172,390)	(15,160,777)
Gross profit		2,066,227	2,237,851
Administrative expenses		(1,787,175)	(1,827,107)
Other operating income	4	103,747	114,176
Operating profit	5	382,799	524,920
Interest payable and similar charges	6	(81,311)	(87,244)
		(81,311)	(87,244)
Profit before tax		301,488	437,676
Taxation	10	(60,340)	(103,697)
Profit for the financial year		241,148	333,979

	Note	2016  £	2015  £
Turnover	3	16,238,617	17,398,628
Changes in stocks of finished goods and work in progress		263,639	201,161
Other operating income	4	103,747	114,176
Raw materials and consumables used		(14,436,029)	(15,361,938)
Employee benefits expense		(1,107,643)	(1,132,641)
Depreciation and amortisation expense		(96,526)	(69,623)
Other expenses		(583,006)	(624,843)
Operating profit	5	382,799	524,920
Interest payable and similar charges	6	(81,311)	(87,244)
Profit before tax		301,488	437,676
Taxation	10	(60,340)	(103,697)
Profit for the year		241,148	333,979

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 12 to 21 form an integral part of these financial statements.
Page 7

Anthony Motors Ltd

Statement of Comprehensive Income for the Year Ended 31 January 2016

	Note	2016  £	2015  £
Profit for the year		241,148	333,979
Total comprehensive income for the year		241,148	333,979

The notes on pages 12 to 21 form an integral part of these financial statements.
Page 8

Anthony Motors Ltd

(Registration number: 01418735)
Balance Sheet as at 31 January 2016

	Note	2016  £	2015  £
Fixed assets
Tangible assets	11	1,748,586	1,473,221
Current assets
Stocks	13	3,804,182	3,540,543
Debtors	14	430,773	643,294
Other financial assets	12	38,199	33,583
Cash at bank and in hand		374,884	574,366
		4,648,038	4,791,786
Creditors: Amounts falling due within one year	16	(3,313,529)	(3,340,690)
Net current assets		1,334,509	1,451,096
Total assets less current liabilities		3,083,095	2,924,317
Creditors: Amounts falling due after more than one year	16	(237,480)	(262,487)
Provisions for liabilities	17	(88,047)	(46,210)
Net assets		2,757,568	2,615,620
Capital and reserves
Called up share capital	18	124	124
Share premium reserve	19	20,859	20,859
Profit and loss account	19	2,736,585	2,594,637
Total equity		2,757,568	2,615,620

Approved and authorised by the Board on 17 October 2016 and signed on its behalf by:
 

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

Mr W A Richards

Director

The notes on pages 12 to 21 form an integral part of these financial statements.
Page 9

Anthony Motors Ltd

Statement of Changes in Equity for the Year Ended 31 January 2016

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 February 2015	124	20,859	2,594,637	2,615,620
Profit for the year	-	-	241,148	241,148
Total comprehensive income	-	-	241,148	241,148
Dividends	-	-	(99,200)	(99,200)
At 31 January 2016	124	20,859	2,736,585	2,757,568

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 February 2014	124	20,859	2,372,758	2,393,741
Profit for the year	-	-	333,979	333,979
Total comprehensive income	-	-	333,979	333,979
Dividends	-	-	(112,100)	(112,100)
At 31 January 2015	124	20,859	2,594,637	2,615,620

The notes on pages 12 to 21 form an integral part of these financial statements.
Page 10

Anthony Motors Ltd

Statement of Cash Flows for the Year Ended 31 January 2016

	Note	2016  £	2015  £
Cash flows from operating activities
Profit for the year		241,148	333,979
Adjustments to cash flows from non-cash items
Depreciation and amortisation	5	96,526	69,623
Finance costs	6	81,311	87,244
Income tax expense	10	60,340	103,697
		479,325	594,543
Working capital adjustments
Increase in stocks	13	(263,639)	(201,161)
Decrease/(increase) in trade debtors	14	212,521	(57,500)
(Decrease)/increase in trade creditors	16	(170,473)	32,681
Cash generated from operations		257,734	368,563
Income taxes paid	10	(104,393)	(41,675)
Net cash flow from operating activities		153,341	326,888
Cash flows from investing activities
Acquisitions of tangible assets		(376,507)	(42,623)
Cash flows from financing activities
Interest paid	6	(80,040)	(85,973)
Repayment of bank borrowing		215,305	191,596
Hire purchase interest		(1,271)	(1,271)
Director's Drawings		(110,310)	(112,100)
Net cash flows from financing activities		23,684	(7,748)
Net (decrease)/increase in cash and cash equivalents		(199,482)	276,517
Cash and cash equivalents at 1 February		574,366	297,849
Cash and cash equivalents at 31 January		374,884	574,366

The notes on pages 12 to 21 form an integral part of these financial statements.
Page 11

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

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

These financial statements were authorised for issue by the Board on 17 October 2016.

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.

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 and after eliminating sales within the company. 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.

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Page 12

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. 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.

Page 13

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

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

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Revenue

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

	2016  £	2015  £
Sale of goods	14,317,854	15,436,717
Rendering of services	1,920,763	1,961,911
	16,238,617	17,398,628

4	Other operating income

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

Page 14

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

	2016  £	2015  £
Miscellaneous other operating income	24,195	31,340
Commissions receivable	79,552	82,836
	103,747	114,176

5	Operating profit

Arrived at after charging/(crediting)

	2016  £	2015  £
Depreciation expense	96,526	69,623
Operating lease expense - plant and machinery	43,955	49,205

6	Interest payable and similar charges

	2016  £	2015  £
Interest on bank overdrafts and borrowings	8,354	8,856
Interest on obligations under finance leases and hire purchase contracts	1,271	1,271
Interest expense on other finance liabilities	71,686	77,117
	81,311	87,244

7	Staff costs

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

	2016  £	2015  £
Wages and salaries	1,080,677	1,100,223
Other employee expense	26,966	32,418
	1,107,643	1,132,641

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

	2016  No.	2015  No.
Administration and support	3	3
Sales, marketing and distribution	40	43
	43	46

8	Directors' remuneration

The directors' remuneration for the year was as follows:

	2016  £	2015  £
Remuneration	39,000	38,931

Page 15

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

9	Auditors' remuneration

	2016  £	2015  £
Audit of the financial statements	8,600	8,775

 

10

Taxation

Tax charged/(credited) in the income statement

	2016  £	2015  £
Current taxation
UK corporation tax	9,271	97,039
Deferred taxation
Arising from origination and reversal of timing differences	51,069	6,658
Tax expense in the income statement	60,340	103,697

Deferred tax

Deferred tax assets and liabilities

2016	Liability £
Accelerated capital allowances	88,047

2015	Liability £
Accelerated capital allowances	46,210

11	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 February 2015	1,448,447	317,369	200,455	1,966,271
Additions	2,736	340,016	29,139	371,891
At 31 January 2016	1,451,183	657,385	229,594	2,338,162
Depreciation
At 1 February 2015	172,840	187,744	132,466	493,050
Charge for the year	9,480	53,980	33,066	96,526
At 31 January 2016	182,320	241,724	165,532	589,576
Carrying amount
At 31 January 2016	1,268,863	415,661	64,062	1,748,586
At 31 January 2015	1,275,607	129,625	67,989	1,473,221

Page 16

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

	Land and buildings £	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 February 2015	1,448,447	317,369	200,455	1,966,271
Additions	2,736	340,016	29,139	371,891
At 31 January 2016	1,451,183	657,385	229,594	2,338,162
Depreciation
At 1 February 2015	172,840	187,744	132,466	493,050
Charge for the year	9,480	53,980	33,066	96,526
At 31 January 2016	182,320	241,724	165,532	589,576
Carrying amount
At 31 January 2016	1,268,863	415,661	64,062	1,748,586
At 31 January 2015	1,275,607	129,625	67,989	1,473,221

Included within the net book value of land and buildings above is £1,268,863 (2015 - £1,275,607) in respect of freehold land and buildings.
 

12	Other financial assets (current and non-current)

	2016  £	2015  £
Current financial assets
Financial assets at amortised cost	38,199	33,583

13

Stocks

	2016  £	2015  £
Other inventories	3,804,182	3,540,543

14

Debtors

	2016  £	2015  £
Trade debtors	243,983	408,458
Other debtors	100,541	179,171
Prepayments	86,249	55,665
Total current trade and other debtors	430,773	643,294

15	Cash and cash equivalents

	2016  £	2015  £
Cash at bank	374,884	574,366

Page 17

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

16

Creditors

	Note	2016  £	2015  £
Due within one year
Loans and borrowings	20	2,974,445	2,734,133
Trade creditors		206,087	386,964
Social security and other taxes		44,495	27,354
Accrued expenses		79,231	85,968
Income tax liability	10	9,271	106,271
		3,313,529	3,340,690
Due after one year
Loans and borrowings	20	237,480	262,487

17	Deferred tax and other provisions

	Deferred tax £	Total £
At 1 February 2015	46,210	46,210
Additional provisions	41,837	41,837
At 31 January 2016	88,047	88,047

Accelerated capital allowances.

Page 18

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

18	Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary of £1 each	124	124	124	124

19

Reserves

Profit and loss account

The profit and loss account includes a revaluation reserve of £106,026 relating to property revalued previous to FRS15. The asset group has been transferred in at fair value as deemed cost.

20	Loans and borrowings

	2016  £	2015  £
Non-current loans and borrowings
Bank borrowings	237,480	262,487

	2016  £	2015  £
Current loans and borrowings
Bank borrowings	23,590	23,590
Finance lease liabilities	3,047	10,120
Other borrowings	2,947,808	2,700,423
	2,974,445	2,734,133

21

Dividends

	2016	2015
	£	£
Interim dividend of £99,200.00 (2015 - £112,100.00) per ordinary share	99,200	112,100

The directors are proposing a final dividend of £Nil (2015 - £Nil) per share totalling £Nil (2015 - £Nil). This dividend has not been accrued in the Balance Sheet.

22	Commitments

Capital commitments

At the year end there were completion works for the new showroom fit-out for Peugeot and Ford franchises that were irrevocably committed but the cost had not yet been incurred.
The total amount contracted for but not provided in the financial statements was £44,726 (2015 - £Nil).

Page 19

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

23	Related party transactions

Transactions with directors

2016	At 1 February 2015 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	Written off £	Waived £	At 31 January 2016 £
Mr W A Richards
Director's loan account	54,425	110,310	(99,200)	-	-	-	65,535

2015	At 1 February 2014 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	Written off £	Waived £	At 31 January 2015 £
Mr W A Richards
Director's loan account	82,655	83,870	(112,100)	-	-	-	54,425

Directors guarantees

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

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.
 Transactions are invoiced under normal credit terms.
 

Page 20

Anthony Motors Ltd

Notes to the Financial Statements for the Year Ended 31 January 2016

Income and receivables from related parties

2016	Entities with joint control or significant influence £
Sale of goods	195,434

2015	Entities with joint control or significant influence £
Sale of goods	124,603

Expenditure with and payables to related parties

2016	Entities with joint control or significant influence £
Purchase of goods	80,425

2015	Entities with joint control or significant influence £
Purchase of goods	95,389

Page 21