Petworth MOT Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04793938 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

Petworth MOT Centre Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A R Adam

Mrs I Adam

SECRETARY:

Thorne Widgery Ltd

REGISTERED OFFICE:

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

REGISTERED NUMBER:

04793938 (England and Wales)

ACCOUNTANTS:

Thorne Widgery Accountancy Ltd

Chartered Accountants

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

FIXED ASSETS

Intangible assets

4

33,333

43,333

Tangible assets

5

12,513

9,856

45,846

53,189

CURRENT ASSETS

Stocks

16,967

16,967

Debtors

55,436

38,535

Cash at bank and in hand

31,174

42,746

103,577

98,248

CREDITORS

Amounts falling due within one year

(112,810

)

(138,809

)

NET CURRENT LIABILITIES

(9,233

)

(40,561

)

TOTAL ASSETS LESS CURRENT LIABILITIES

36,613

12,628

PROVISIONS FOR LIABILITIES

(2,227

)

(1,688

)

NET ASSETS

34,386

10,940

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

34,384

10,938

SHAREHOLDERS' FUNDS

34,386

10,940

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 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 31 January 2019 and were signed on its behalf by:

Mrs I Adam - Director

P A R Adam - Director

1.	STATUTORY INFORMATION

Petworth MOT Centre Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% 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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

and 30 April 2018

107,325

AMORTISATION

At 1 May 2017

63,992

Amortisation for year

10,000

At 30 April 2018

73,992

NET BOOK VALUE

At 30 April 2018

33,333

At 30 April 2017

43,333

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

39,926

Additions

6,674

At 30 April 2018

46,600

DEPRECIATION

At 1 May 2017

30,070

Charge for year

4,017

At 30 April 2018

34,087

NET BOOK VALUE

At 30 April 2018

12,513

At 30 April 2017

9,856