MOTEC Autos (Pembrokeshire) Limited - Accounts to registrar (filleted) - small 18.2
MOTEC Autos (Pembrokeshire) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 September 2018 |
for |
MOTEC Autos (Pembrokeshire) Limited |
MOTEC Autos (Pembrokeshire) Limited (Registered number: 03656160) |
Contents of the Financial Statements |
for the Year Ended 30 September 2018 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MOTEC Autos (Pembrokeshire) Limited |
Company Information |
for the Year Ended 30 September 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MOTEC Autos (Pembrokeshire) Limited (Registered number: 03656160) |
Abridged Balance Sheet |
30 September 2018 |
30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
MOTEC Autos (Pembrokeshire) Limited (Registered number: 03656160) |
Abridged Balance Sheet - continued |
30 September 2018 |
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 by: |
MOTEC Autos (Pembrokeshire) Limited (Registered number: 03656160) |
Notes to the Financial Statements |
for the Year Ended 30 September 2018 |
1. | STATUTORY INFORMATION |
MOTEC Autos (Pembrokeshire) Limited is a |
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 |
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 |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
No depreciation is provided in respect of freehold property as in the opinion of the directors its carrying value is |
in excess of its residual value and the estimated remaining useful life of the property exceeds 50 years. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
Deferred tax is provided at the rates applicable as at the balance sheet date. |
Stocks |
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to sell, 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. |
MOTEC Autos (Pembrokeshire) Limited (Registered number: 03656160) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
2. | ACCOUNTING POLICIES - continued |
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. |
Financial instruments |
Basic financial instruments are recognised at amortised cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2017 |
Additions |
At 30 September 2018 |
DEPRECIATION |
At 1 October 2017 |
Charge for year |
At 30 September 2018 |
NET BOOK VALUE |
At 30 September 2018 |
At 30 September 2017 |
MOTEC Autos (Pembrokeshire) Limited (Registered number: 03656160) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2017 |
and 30 September 2018 |
NET BOOK VALUE |
At 30 September 2018 |
At 30 September 2017 |
The investment properties have been valued by the directors at fair value as at the balance sheet date. |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.9.18 | 30.9.17 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 118,783 | 128,710 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.18 | 30.9.17 |
£ | £ |
Bank overdrafts |
Bank loans |
Hire purchase contracts | 15,333 | 7,765 |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 October 2017 |
Deferred tax movement | 503 |
At 30 September 2018 |
9. | GOING CONCERN |
The accounts have been prepared on the going concern basis, which assumes that the directors will provide |
support to the company over the next 12 months. |