Apollo Motor Company (Bournemouth) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04093907 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

APOLLO MOTOR COMPANY (BOURNEMOUTH)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr G Eyles

Mrs T Eyles

Mr I Pitts

REGISTERED OFFICE:

3A Leyland Road

Wallisdown

Bournemouth

Dorset

BH12 5HD

REGISTERED NUMBER:

04093907 (England and Wales)

INDEPENDENT AUDITORS:

Casson Beckman

Statutory Auditor

Murrills House

48 East Street

Portchester

Fareham

Hampshire

PO16 9XS

FIXED ASSETS

Intangible assets

4

1,250

1,500

Tangible assets

5

42,058

43,356

43,308

44,856

CURRENT ASSETS

Stocks

50,758

76,986

Debtors

6

441,584

373,470

Cash at bank and in hand

68,716

885

561,058

451,341

CREDITORS

Amounts falling due within one year

7

485,115

461,120

NET CURRENT ASSETS/(LIABILITIES)

75,943

(9,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,251

35,077

PROVISIONS FOR LIABILITIES

5,846

6,009

NET ASSETS

113,405

29,068

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

13,481

15,360

Retained earnings

99,824

13,608

SHAREHOLDERS' FUNDS

113,405

29,068

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 19 December 2017 and were signed on its behalf by:

Mr G Eyles - Director

1.	STATUTORY INFORMATION

Apollo Motor Company (Bournemouth) 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Apollo Motor Company (Bournemouth) Limited as an

individual company and do not contain consolidated financial information. The company is exempt under

Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it

is included by full consolidation in the consolidated financial statements of its parent, Apollo Motor Group

Limited, Unit 6, Fitzherbert Road, Cosham, Hampshire, PO6 1RU.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Long leasehold

-

10% on cost

Plant and machinery

-

20% on reducing balance and 10% on cost

Fixtures and fittings

-

33% on cost and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

moving items.

Work in progress is valued at cost plus an element of profit.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to pension schemes are

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

2,500

AMORTISATION

At 1 June 2016

1,000

Charge for year

250

At 31 May 2017

1,250

NET BOOK VALUE

At 31 May 2017

1,250

At 31 May 2016

1,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 June 2016

20,215

40,430

4,229

3,963

68,837

Additions

-

205

6,995

-

7,200

At 31 May 2017

20,215

40,635

11,224

3,963

76,037

DEPRECIATION

At 1 June 2016

6,906

14,616

1,807

2,152

25,481

Charge for year

2,021

1,349

835

453

4,658

Revaluation adjustments

-

3,840

-

-

3,840

At 31 May 2017

8,927

19,805

2,642

2,605

33,979

NET BOOK VALUE

At 31 May 2017

11,288

20,830

8,582

1,358

42,058

At 31 May 2016

13,309

25,814

2,422

1,811

43,356

Cost or valuation at 31 May 2017 is represented by:

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2013

-

30,000

-

-

30,000

Cost

20,215

10,635

11,224

3,963

46,037

20,215

40,635

11,224

3,963

76,037

If plant and machinery had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

10,352

10,147

Aggregate depreciation

4,882

3,533

Plant and Machinery is reported at fair value and the directors believe the value reflected in the financial

statements is accurate. No formal valuation has been undertaken the directors consider that the costs of such an

exercise would outweigh the benefits to the company.

The depreciation charge for the year relating to revalued assets is transferred directly from the revaluation

reserve.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

207,732

218,449

Amounts owed by group undertakings

154,427

126,840

Other debtors

79,425

28,181

441,584

373,470

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

27,983

Payments on account

-

59,002

Trade creditors

214,623

176,731

Amounts owed to group undertakings

160,375

121,086

Taxation and social security

84,368

63,698

Other creditors

25,749

12,620

485,115

461,120

8.	LEASING AGREEMENTS

The company is committed to payments totalling £202,100 under non cancellable operating leases.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

-

27,983

Payments on account

-

59,002

-

86,985

Bank overdrafts are secured by a fixed and floating charge over the assets of the company and are subject to a

cross guarantee and debenture between Apollo Motor Company (Bournemouth) Limited and the other

subsidiaries of Apollo Motor Group Limited.

Payments received on account are advances provided by a factoring company which are secured on the trade

debts of the company.

10.

RESERVES

Revaluation

reserve

£

At 1 June 2016

15,360

Transfer to revaluation

(3,840

)

Deferred tax

1,961

At 31 May 2017

13,481

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Walter (Senior Statutory Auditor)

for and on behalf of Casson Beckman

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

13.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns

to the tax authorities and assist with the preparation of the financial statements.

14.	FIRST YEAR ADOPTION

There have been no adjustments to the financial statements as a result of the transition to FRS102.