|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiveways Motorcycle Centre Limited |
|
Unaudited Financial Statements for the Year Ended 31st December 2017 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiveways Motorcycle Centre Limited |
|
Unaudited Financial Statements for the Year Ended 31st December 2017 |
|
|
|
|
|
Fiveways Motorcycle Centre Limited (Registered number: 03958906) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 31st December 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Fiveways Motorcycle Centre Limited |
|
Company Information |
for the year ended 31st December 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
Fiveways Motorcycle Centre Limited (Registered number: 03958906) |
|
Balance Sheet |
31st December 2017 |
|
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 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. |
Fiveways Motorcycle Centre Limited (Registered number: 03958906) |
|
Balance Sheet - continued |
31st December 2017 |
|
|
|
|
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
behalf by: |
|
|
|
|
|
|
|
|
|
|
Fiveways Motorcycle Centre Limited (Registered number: 03958906) |
|
Notes to the Financial Statements |
for the year ended 31st December 2017 |
|
1. | STATUTORY INFORMATION |
|
Fiveways Motorcycle Centre Limited is a
|
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 |
|
|
The significant accounting policies applied in the preparation of these financial statements are set out |
below. These policies have been consistently applied to all years presented unless otherwise stated. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade |
discounts. The policies adopted for the recognition of turnover are as follows: |
|
Sale of goods |
|
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the |
goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable |
that the economic benefits associated with the transaction will flow to the company and the costs |
incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on |
dispatch of the goods. |
|
Intangible assets - goodwill |
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet |
and amortised on a straight line basis over its useful life. Provision is made for any impairment as and |
when the need arises. |
|
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
and accumulated impairment losses. Cost includes costs directly attributable to making the asset |
capable of operating as intended. |
|
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less |
estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
|
Land and buildings | - 15% on cost |
Plant and machinery etc | - 15%, 25% and 33% on cost |
|
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost |
includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its |
present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made |
for damaged, obsolete and slow- moving stock where appropriate. |
|
Fiveways Motorcycle Centre Limited (Registered number: 03958906) |
|
Notes to the Financial Statements - continued |
for the year ended 31st December 2017 |
|
2. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) |
for the current or past reporting periods. It is measured at the amount expected to be paid or recovered |
using the tax rates and laws that have been enacted or substantively enacted by the balance sheet |
date. |
|
Deferred tax represents the future tax consequences of transactions and events recognised in the |
financial statements of current and previous periods. It is recognised in respect of all timing |
differences, with certain exceptions. Timing differences are differences between taxable profits and |
total comprehensive income as stated in the financial statements that arise from the inclusion of |
income and expense in tax assessments in periods different from those in which they are recognised |
in the financial statements. 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. |
|
Deferred tax is measured using the tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
|
Leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
|
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is |
carried at a revalued amount where the impairment loss is a revaluation decrease. |
|
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and are receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administrative expenses. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st January 2017 |
and 31st December 2017 |
|
AMORTISATION |
At 1st January 2017 |
and 31st December 2017 |
|
NET BOOK VALUE |
At 31st December 2017 |
|
At 31st December 2016 |
|
Fiveways Motorcycle Centre Limited (Registered number: 03958906) |
|
Notes to the Financial Statements - continued |
for the year ended 31st December 2017 |
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st January 2017 |
|
|
|
Additions |
|
|
|
At 31st December 2017 |
|
|
|
DEPRECIATION |
At 1st January 2017 |
|
|
|
Charge for year |
|
|
|
At 31st December 2017 |
|
|
|
NET BOOK VALUE |
At 31st December 2017 |
|
|
|
At 31st December 2016 |
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CALLED UP SHARE CAPITAL |
|
The share capital of £1,000 (2016: £1,000) is allotted, called up and fully paid. |