Vintage And Classic Cars Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06428741

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

VINTAGE AND CLASSIC CARS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTOR:

Dr G H Heins

SECRETARY:

Mitchells Secretarial Services Limited

REGISTERED OFFICE:

41 Rodney Road

Cheltenham

Gloucestershire

GL50 1HX

REGISTERED NUMBER:

06428741

ACCOUNTANTS:

Mitchell Glanville Limited

41 Rodney Road

Cheltenham

Gloucestershire

GL50 1HX

CURRENT ASSETS

Stocks

29,500

252,798

Debtors

3

61,867

55,345

Cash at bank

32,010

97,979

123,377

406,122

CREDITORS

Amounts falling due within one year

4

142,047

390,476

NET CURRENT (LIABILITIES)/ASSETS

(18,670

)

15,646

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,670

)

15,646

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

5

(18,671

)

15,645

SHAREHOLDERS' FUNDS

(18,670

)

15,646

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 20 August 2018 and were signed by:

Dr G H Heins - Director

1.	STATUTORY INFORMATION

Vintage And Classic Cars Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

61,867

55,345

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

84,913

327,990

Taxation and social security

-

5,352

Other creditors

57,134

57,134

142,047

390,476

5.

RESERVES

Retained

earnings

£

At 1 December 2016

15,645

Deficit for the year

(34,316

)

At 30 November 2017

(18,671

)

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

30 November 2016:

2017

2016

£

£

Dr G H Heins

Balance outstanding at start of year

(55,684

)

(5,000

)

Amounts repaid

-

(50,684

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(55,684

)

(55,684

)

7.	RELATED PARTY DISCLOSURES

During the year, the company purchased goods from Dr Heins Classics Ltd, New Zealand totalling £22,750, a related party.

At the year end date, £49,668 was owed to Dr Heins Classics Ltd, Australia and £32,950 was owed to Dr Heins Classics Ltd,

New Zealand. Also at the end of the year Dr Heins Classics Ltd , New Zealand owed the company £59,705.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr G H Heins.

The following reproduces the text of the report prepared for the director 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 Director 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 Vintage And Classic Cars Limited for the year ended 30 November 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 director of Vintage And Classic Cars Limited in accordance with the terms of our engagement letter dated 19 December 2008. Our work has been undertaken solely to prepare for your approval the financial statements of Vintage And Classic Cars Limited and state those matters that we have agreed to state to the director of Vintage And Classic Cars Limited 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 Vintage And Classic Cars Limited and its director for our work or for this report.

It is your duty to ensure that Vintage And Classic Cars 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 loss of Vintage And Classic Cars Limited. You consider that Vintage And Classic Cars 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 Vintage And Classic Cars 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.

Mitchell Glanville Limited

41 Rodney Road

Cheltenham

Gloucestershire

GL50 1HX

20 August 2018