Apex Moto X Worcester Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06553944 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Apex Moto X Worcester Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D R Ellis

M J Davis

SECRETARY:

D R Ellis

REGISTERED OFFICE:

Unit 21 Enfield Industrial Estate

Redditch

Worcestershire

B97 6BY

REGISTERED NUMBER:

06553944 (England and Wales)

ACCOUNTANTS:

Derek Young & Co Accountants LLP

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

FIXED ASSETS

Intangible assets

4

-

4,000

Tangible assets

5

72,508

78,805

72,508

82,805

CURRENT ASSETS

Debtors

4,025

61,000

Cash at bank and in hand

49,785

9,874

53,810

70,874

CREDITORS

Amounts falling due within one year

15,554

23,565

NET CURRENT ASSETS

38,256

47,309

TOTAL ASSETS LESS CURRENT LIABILITIES

110,764

130,114

CREDITORS

Amounts falling due after more than one year

-

(1,944

)

PROVISIONS FOR LIABILITIES

(8,837

)

(13,431

)

NET ASSETS

101,927

114,739

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

101,925

114,737

SHAREHOLDERS' FUNDS

101,927

114,739

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2018 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 Board of Directors on 25 September 2018 and were signed on its behalf by:

D R Ellis - Director

1.	STATUTORY INFORMATION

Apex Moto X Worcester 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 represents amounts derived from the provision of goods and services falling within the company's

ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so

derived.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

and 31 May 2018

40,000

AMORTISATION

At 1 June 2017

36,000

Amortisation for year

4,000

At 31 May 2018

40,000

NET BOOK VALUE

At 31 May 2018

-

At 31 May 2017

4,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

180,224

Additions

7,560

At 31 May 2018

187,784

DEPRECIATION

At 1 June 2017

101,419

Charge for year

13,857

At 31 May 2018

115,276

NET BOOK VALUE

At 31 May 2018

72,508

At 31 May 2017

78,805

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 June 2017

67,750

Transfer to ownership

(40,000

)

At 31 May 2018

27,750

DEPRECIATION

At 1 June 2017

34,878

Charge for year

3,007

Transfer to ownership

(27,177

)

At 31 May 2018

10,708

NET BOOK VALUE

At 31 May 2018

17,042

At 31 May 2017

32,872

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary shares

£1

2

2

7.	RELATED PARTY DISCLOSURES

The company rents land from the directors of the company. In the period under review rent of £33,600 was paid.

8.	ULTIMATE CONTROLLING PARTY