PREMIER MOTORS & RADIATORS LTD - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 05762114 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

PREMIER MOTORS & RADIATORS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

MR R BAILEY

SECRETARY:

MR R BAILEY

REGISTERED OFFICE:

44 KIMBERWORTH ROAD

ROTHERHAM

S61 1AE

REGISTERED NUMBER:

05762114 (England and Wales)

ACCOUNTANTS:

Lindrick Accountancy Services Limited

205 Outgang Lane

Dinnington

Sheffield

S25 3QY

FIXED ASSETS

Intangible assets

4

15,750

17,500

Tangible assets

5

4,233

3,420

19,983

20,920

CURRENT ASSETS

Stocks

4,950

4,250

Debtors

2,946

2,616

Cash at bank and in hand

16,049

11,286

23,945

18,152

CREDITORS

Amounts falling due within one year

42,219

38,237

NET CURRENT LIABILITIES

(18,274

)

(20,085

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,709

835

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,609

735

SHAREHOLDERS' FUNDS

1,709

835

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2017 and were signed by:

MR R BAILEY - Director

1.	STATUTORY INFORMATION

PREMIER MOTORS & RADIATORS LTD 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

Going concern

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.

The financial statements have been prepared on the basis of the continued support of the

director

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

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 2 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

35,000

AMORTISATION

At 1 April 2016

17,500

Amortisation for year

1,750

At 31 March 2017

19,250

NET BOOK VALUE

At 31 March 2017

15,750

At 31 March 2016

17,500

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

21,338

Additions

1,599

At 31 March 2017

22,937

DEPRECIATION

At 1 April 2016

17,918

Charge for year

786

At 31 March 2017

18,704

NET BOOK VALUE

At 31 March 2017

4,233

At 31 March 2016

3,420

The following reproduces the text of the report prepared for the director 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 Abridged Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the

Companies Act 2006, we have compiled the financial statements of the company for the period

ended 31 March 2017 which comprise the Profit and Loss Account, the Balance Sheet and the

related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our

work has been undertaken so that we might compile the financial statements that we have been

engaged to compile, report to the company's director that we have done so, and state those matters

that we have agreed to state to him in this 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 director, for our work or for this report.

You have acknowledged on the Balance Sheet as at 31 March 2017 your duty to ensure that the

company has kept proper accounting records and to prepare financial statements that give a true and

fair view under the Companies Act 2006. You consider that the company is exempt from the

statutory requirement for an audit for the period.

We have not been instructed to carry out an audit of the financial statements. 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 financial

statements.

Lindrick Accountancy Services Limited

205 Outgang Lane

Dinnington

Sheffield

S25 3QY

Date: .............................................