BCS4cars Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02023570 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

BCS4CARS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mr P P Sullivan

Mrs P Sullivan

Miss D Jones

SECRETARY:

Mrs P Sullivan

REGISTERED OFFICE:

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

REGISTERED NUMBER:

02023570 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Tangible assets

4

96,154

117,574

Investment property

5

462,000

462,000

558,154

579,574

CURRENT ASSETS

Stocks

60,826

35,192

Debtors

6

333,449

305,767

Cash at bank

908,166

625,202

1,302,441

966,161

CREDITORS

Amounts falling due within one year

7

674,972

589,584

NET CURRENT ASSETS

627,469

376,577

TOTAL ASSETS LESS CURRENT LIABILITIES

1,185,623

956,151

PROVISIONS FOR LIABILITIES

8

65,536

69,275

NET ASSETS

1,120,087

886,876

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

283,660

283,660

Retained earnings

835,427

602,216

SHAREHOLDERS' FUNDS

1,120,087

886,876

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 directors acknowledge their 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 Board of Directors on 25 August 2017 and were signed on its behalf by:

Mr P P Sullivan - Director

1.	STATUTORY INFORMATION

BCS4cars 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Depreciation on freehold property applies to the value of the buildings only. Depreciation of improvements to

property commences when the building to which the improvement relates is brought into use, which was during

2012.

Investment property

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

fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

and 31 March 2017

203,835

10,268

2,899

217,002

DEPRECIATION

At 1 April 2016

91,574

5,247

2,607

99,428

Charge for year

20,383

753

284

21,420

At 31 March 2017

111,957

6,000

2,891

120,848

NET BOOK VALUE

At 31 March 2017

91,878

4,268

8

96,154

At 31 March 2016

112,261

5,021

292

117,574

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

and 31 March 2017

462,000

NET BOOK VALUE

At 31 March 2017

462,000

At 31 March 2016

462,000

The investment property is valued on an open market basis by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

159,890

239,622

Directors' current accounts

173,559

66,145

333,449

305,767

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

514,049

391,609

Amounts owed to group undertakings

18,371

18,371

Tax

85,256

128,701

Social security and other taxes

196

1,933

VAT

57,100

48,970

674,972

589,584

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

7,436

11,175

Other provisions

58,100

58,100

65,536

69,275

Deferred

Other

tax

provisions

£

£

Balance at 1 April 2016

11,175

58,100

Accelerated capital allowances

(3,739

)

-

Balance at 31 March 2017

7,436

58,100

9.	RELATED PARTY DISCLOSURES

The company owed its holding company, BCS Corporate Limited £18,371 at the balance sheet date (2016 -

£18,371.)

As at 31 March 2017 the company was owed £173,559 by directors (2016: £66,145) Interest has been charged

on these amounts and they carry no fixed terms for repayment.

Dividends totalling £62,000 (2016 £56,200) were voted to BCS Corporate Limited during the year.

Dividends totalling £31,000 (2016 £50,000) were voted to directors during the year.

Directors have given a personal guarantee to the company's bankers limited to £250,000.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

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

financial statements of BCS4cars Limited for the year ended 31 March 2017 which comprise the Income Statement,

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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of BCS4cars Limited, as a body, in accordance with the terms of our engagement letter dated 24 February 2010. Our work has been undertaken solely to prepare for your approval the financial statements of BCS4cars Limited and state those matters that we have agreed to state to the Board of Directors of BCS4cars Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BCS4cars Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that BCS4cars 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 BCS4cars Limited. You consider that BCS4cars 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 BCS4cars 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.

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

25 August 2017