John Bull (Motors) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04771327 (England and Wales)

John Bull Motors Limited

Unaudited Financial Statements

for the Year Ended

30 September 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

M A King

SECRETARY:

M A King

REGISTERED OFFICE:

9 Byford Court

Crockatt Road

Hadleigh

Ipswich

Suffolk

IP7 6RD

REGISTERED NUMBER:

04771327 (England and Wales)

ACCOUNTANTS:

Haines Watts

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

FIXED ASSETS

Intangible assets

4

3,000

6,000

Tangible assets

5

15,551

18,947

18,551

24,947

CURRENT ASSETS

Stocks

3,100

2,437

Debtors

6

13,990

36,673

Cash at bank and in hand

31,300

36,413

48,390

75,523

CREDITORS

Amounts falling due within one year

7

(67,288

)

(61,508

)

NET CURRENT (LIABILITIES)/ASSETS

(18,898

)

14,015

TOTAL ASSETS LESS CURRENT LIABILITIES

(347

)

38,962

PROVISIONS FOR LIABILITIES

(2,492

)

(3,275

)

NET (LIABILITIES)/ASSETS

(2,839

)

35,687

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(2,841

)

35,685

SHAREHOLDERS' FUNDS

(2,839

)

35,687

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 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 7 June 2018 and were signed by:

M A King - Director

1.	STATUTORY INFORMATION

John Bull 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.

Transition to financial reporting standard 102 section 1a

This is the first year that the company has presented its financial statements under Financial Reporting Standard 102

Section 1A (FRS 102 1A) issued by the Financial Reporting Council. The last financial statements for the year ended 30

September 2016 were prepared under previous UK GAAP, and the transition date to FRS 102 is therefore 1 October 2015.

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 0, is being amortised evenly over its estimated useful life of nil 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.

Freehold property

-

10% on cost

Plant and machinery

-

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.

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 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

30,000

AMORTISATION

At 1 October 2016

24,000

Charge for year

3,000

At 30 September 2017

27,000

NET BOOK VALUE

At 30 September 2017

3,000

At 30 September 2016

6,000

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2016

and 30 September 2017

7,076

29,152

11,950

3,115

51,293

DEPRECIATION

At 1 October 2016

5,664

13,427

11,369

1,886

32,346

Charge for year

708

2,359

145

184

3,396

At 30 September 2017

6,372

15,786

11,514

2,070

35,742

NET BOOK VALUE

At 30 September 2017

704

13,366

436

1,045

15,551

At 30 September 2016

1,412

15,725

581

1,229

18,947

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,906

10,098

Other debtors

12,084

26,575

13,990

36,673

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

31,382

26,967

Taxation and social security

23,483

32,746

Other creditors

12,423

1,795

67,288

61,508

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

2017

2016

£

£

M A King

Balance outstanding at start of year

3,939

3,579

Amounts advanced

-

4,360

Amounts repaid

-

(4,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,939

3,939

The outstanding directors advance is unsecured and interest free and will be repaid by way of a dividend within nine

months of the year end.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M A King.