Ongar Bridge Motor Company Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03198488 (England and Wales)

Financial Statements

for the Year Ended

30 September 2017

for

Ongar Bridge Motor Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs B V Evans

A P Evans

N D Bradford

P A Hayward

SECRETARY:

Mrs B V Evans

REGISTERED OFFICE:

Summit House

13 High Street

Wanstead

London

E11 2AA

REGISTERED NUMBER:

03198488 (England and Wales)

ACCOUNTANTS:

Friedmans

Summit House

13 High Street

Wanstead

London

E11 2AA

FIXED ASSETS

Tangible assets

4

91,873

92,204

CURRENT ASSETS

Stocks

712,094

888,915

Debtors

5

72,173

111,979

Cash at bank and in hand

991,846

753,457

1,776,113

1,754,351

CREDITORS

Amounts falling due within one year

6

1,564,286

1,547,913

NET CURRENT ASSETS

211,827

206,438

TOTAL ASSETS LESS CURRENT LIABILITIES

303,700

298,642

CREDITORS

Amounts falling due after more than one year

7

(250,000

)

(250,000

)

PROVISIONS FOR LIABILITIES

(1,961

)

(1,961

)

NET ASSETS

51,739

46,681

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

51,737

46,679

SHAREHOLDERS' FUNDS

51,739

46,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 7 June 2018 and were signed on its behalf by:

A P Evans - Director

1.	STATUTORY INFORMATION

Ongar Bridge Motor Company 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.

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Computer equipment

-

33% 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.

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 the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 October 2016

72,097

88,696

19,823

180,616

Additions

-

864

3,649

4,513

At 30 September 2017

72,097

89,560

23,472

185,129

DEPRECIATION

At 1 October 2016

-

70,386

18,026

88,412

Charge for year

-

3,040

1,804

4,844

At 30 September 2017

-

73,426

19,830

93,256

NET BOOK VALUE

At 30 September 2017

72,097

16,134

3,642

91,873

At 30 September 2016

72,097

18,310

1,797

92,204

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,423

51,362

Prepayments and accrued income

70,750

60,617

72,173

111,979

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

42,664

46,190

Amounts owed to group undertakings

1,322,909

1,207,514

Tax

16,546

19,413

Social security and other taxes

22,587

23,735

Pension Control

298

-

VAT

23,133

45,516

Net wages

27,711

28,048

Directors' current accounts

600

354

Accruals and deferred income

88,465

157,220

Accrued expenses

19,373

19,923

1,564,286

1,547,913

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other loans - 1-2 years

250,000

250,000

8.	RELATED PARTY DISCLOSURES

As at 30 September 2017, the amount owed to parent company, Ongar Bridge Holdings Limited, was

£1,572,909 (30 September 2016 - £1,457,513.) Transactions during the year arose from loan interest

and rental charges.