Pinewood House Motor Co. Limited - Accounts to registrar (filleted) - small 18.2

Pinewood House Motor Co. Limited - Accounts to registrar (filleted) - small 18.2

PINEWOOD HOUSE MOTOR CO. LIMITED - Company Information

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REGISTERED NUMBER: 02908329 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

PINEWOOD HOUSE MOTOR CO. LIMITED
PINEWOOD HOUSE MOTOR CO. LIMITED (REGISTERED NUMBER: 02908329)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PINEWOOD HOUSE MOTOR CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017







DIRECTOR: J F Botterill



SECRETARY: B G Botterill



REGISTERED OFFICE: Duston Garage
7 Peveril Road
Duston
Northampton
NN5 6JW



REGISTERED NUMBER: 02908329 (England and Wales)



ACCOUNTANTS: DNG Dove Naish
Chartered Accountants
Eagle House
28 Billing Road
Northampton
NN1 5AJ



BANKERS: Barclays Bank Plc
Leicester
LE87 2BB
Page 1
PINEWOOD HOUSE MOTOR CO. LIMITED (REGISTERED NUMBER: 02908329)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,927 17,320

CURRENT ASSETS
Stocks 1,000 12,448
Debtors 5 207,368 208,943
Cash at bank and in hand 45,582 28,672
253,950 250,063
CREDITORS
Amounts falling due within one year 6 43,945 40,484
NET CURRENT ASSETS 210,005 209,579
TOTAL ASSETS LESS CURRENT
LIABILITIES
224,932
226,899

PROVISIONS FOR LIABILITIES 2,836 3,464
NET ASSETS 222,096 223,435

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 222,094 223,433
SHAREHOLDERS' FUNDS 222,096 223,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 notes form part of these financial statements

Page 2 continued...
PINEWOOD HOUSE MOTOR CO. LIMITED (REGISTERED NUMBER: 02908329)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2017


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 15 September 2018 and were signed by:





J F Botterill - Director


The notes form part of these financial statements

Page 3
PINEWOOD HOUSE MOTOR CO. LIMITED (REGISTERED NUMBER: 02908329)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017


1. STATUTORY INFORMATION

Pinewood House Motor Co. 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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It
also requires management to exercise its judgement in the process of applying the company
accounting policies. The areas involving a higher degree of judgement or complexity, or areas where
assumptions and estimates are significant to the financial statements are disclosed within the
individual accounting policies below.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Plant and machinery - 15% on reducing balance

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.
Where parts of an item of property, plant and equipment have different useful lives, they are
accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The
selection of these residual values and estimated lives requires the exercise of judgement. The
directors are required to assess whether there is an indication of impairment to the carrying value of
assets. In making that assessment, judgements are made in estimating value in use. The directors
consider that the individual carrying values of assets are supportable by their value in use.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Page 4 continued...
PINEWOOD HOUSE MOTOR CO. LIMITED (REGISTERED NUMBER: 02908329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term
deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the statement of
comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a
similar debt instrument, those financial instruments are classed as financial liabilities. Financial
liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to
financial liabilities are included in the profit and loss account. Finance costs are calculated so as to
produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a
financial liability then this is classed as an equity instrument. Dividends and distributions relating to
equity instruments are debited direct to equity.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the statement of financial position 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.

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 5 (2016 - 5 ) .

Page 5 continued...
PINEWOOD HOUSE MOTOR CO. LIMITED (REGISTERED NUMBER: 02908329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Plant and
fittings vehicles machinery Totals
£    £    £    £   
COST
At 1 January 2017 33,184 5,900 51,574 90,658
Additions - - 219 219
At 31 December 2017 33,184 5,900 51,793 90,877
DEPRECIATION
At 1 January 2017 23,850 5,900 43,588 73,338
Charge for year 1,400 - 1,212 2,612
At 31 December 2017 25,250 5,900 44,800 75,950
NET BOOK VALUE
At 31 December 2017 7,934 - 6,993 14,927
At 31 December 2016 9,334 - 7,986 17,320

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 2,756 4,595
Pinewood Properties Limited 198,212 198,212
Prepayments and accrued income 6,400 6,136
207,368 208,943

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 9,316 9,496
Tax 58 1,205
Social security and other taxes 2,191 2,241
VAT 4,450 5,620
Other creditors 1,289 1,289
Directors' current accounts 22,026 16,043
Accruals and deferred income 4,615 4,590
43,945 40,484

Page 6