Harold Webb Motors Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 00420557 (England and Wales)

HAROLD WEBB MOTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

P. Webb

SECRETARY:

Mrs L.C. Webb

REGISTERED OFFICE:

21 Lodge Lane

Grays

Essex

RM17 5RY

REGISTERED NUMBER:

00420557 (England and Wales)

ACCOUNTANTS:

Bland Baker

Chartered Accountants

21 Lodge Lane

Grays

Essex

RM17 5RY

FIXED ASSETS

Tangible assets

3

41,022

41,022

CURRENT ASSETS

Cash at bank

27,107

24,464

CREDITORS

Amounts falling due within one year

4

9,476

9,472

NET CURRENT ASSETS

17,631

14,992

TOTAL ASSETS LESS CURRENT LIABILITIES

58,653

56,014

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

5

53,653

51,014

SHAREHOLDERS' FUNDS

58,653

56,014

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 June 2017 and were signed by:

P. Webb - Director

1.	STATUTORY INFORMATION

Harold Webb Motors 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents rents receivable.

Tangible fixed assets

Land and buildings - not provided.

No depreciation has been provided on the freehold property as the director considers, for the reasons

set out below, that such a charge would be immaterial. It is neither practicable nor relevant to quantify

the affects of this departure from the requirements of Financial Reporting Standards.

(a) The company requires its tenant to carry out regular maintenance and repair enabling the property

to retain its previously assessed standard of performance.

(b) The assets are unlikely to suffer technological or economic obsolescence due to a change in

demand for the company's services.

Impairment review

In the opinion of the director the site occupied by the property has a development value significantly

in excess of its carrying value and consequently no impairment has occurred under the provisions of

Financial Reporting Standards.

Land and buildings - separable cost

The director recognises that both the Companies Act and Financial Reporting Standards require land

and buildings to be dealt with separately for accounting purposes.

The property was constructed many years ago and there are no remaining records of the separable

costs.

The cumulative effect of inflation since construction ensures that the historical cost of the building

now comprises a negligible part of the current carrying value not requiring separate disclosure.

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 that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2016

and 31 March 2017

41,022

NET BOOK VALUE

At 31 March 2017

41,022

At 31 March 2016

41,022

The company's accounting policy explains why the director considers that there is no need for a

provision in respect of the freehold property.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

8,160

8,156

Other creditors

1,316

1,316

9,476

9,472

5.

RESERVES

Retained

earnings

£

At 1 April 2016

51,014

Profit for the year

32,639

Dividends on equity shares

(30,000

)

At 31 March 2017

53,653

6.	RELATED PARTY DISCLOSURES

Balances with related parties

At the balance sheet date the company owed the director £115 (2016 - £115). The loan was

unsecured, interest free and repayable on demand.