Penny Vintage Carriage Bodies Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03853638 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

PENNY VINTAGE CARRIAGE BODIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Penny

Mrs W Penny

SECRETARY:

Mrs W Penny

REGISTERED OFFICE:

6 Langdale Court

Witney

Oxfordshire

OX28 6FG

REGISTERED NUMBER:

03853638 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

6 Langdale Court

Witney

Oxfordshire

OX28 6FG

FIXED ASSETS

Tangible assets

4

2,221

2,962

CURRENT ASSETS

Stocks

3,775

3,775

Debtors

5

15,679

56,866

Cash at bank

94,513

49,967

113,967

110,608

CREDITORS

Amounts falling due within one year

6

40,127

56,556

NET CURRENT ASSETS

73,840

54,052

TOTAL ASSETS LESS CURRENT LIABILITIES

76,061

57,014

PROVISIONS FOR LIABILITIES

7

422

563

NET ASSETS

75,639

56,451

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

75,637

56,449

SHAREHOLDERS' FUNDS

75,639

56,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 5 January 2019 and were signed on its behalf by:

S Penny - Director

1.	STATUTORY INFORMATION

The nature of the company's operations and principal activity is that of restoration of vintage motor vehicles.

The company's principal place of business is Bloxham, Oxfordshire.. The financial statements are presented in

sterling which is the functional currency of the company and rounded to the nearest £.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to Leasehold Property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% 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.

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 4 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Leasehold

Plant and

Computer

Property

machinery

equipment

Totals

£

£

£

£

COST

At 1 May 2017

and 30 April 2018

15,750

27,541

2,680

45,971

DEPRECIATION

At 1 May 2017

14,330

26,639

2,040

43,009

Charge for year

355

226

160

741

At 30 April 2018

14,685

26,865

2,200

43,750

NET BOOK VALUE

At 30 April 2018

1,065

676

480

2,221

At 30 April 2017

1,420

902

640

2,962

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

12,210

38,656

Other debtors

830

830

Prepayments

2,639

17,380

15,679

56,866

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade Creditors

1,462

25,563

Tax

12,000

13,732

Social security and other taxes

1,360

1,303

VAT

7,376

10,733

Other Creditors

198

198

Directors' loan accounts

14,386

971

Accruals

3,345

4,056

40,127

56,556

7.	PROVISIONS FOR LIABILITIES

30.4.18

30.4.17

£

£

Deferred tax

422

563

Deferred

tax

£

Balance at 1 May 2017

563

Provided during year

(141

)

Balance at 30 April 2018

422

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

2

2

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Penny and Mrs W Penny.