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REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD |
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REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD |
PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD (REGISTERED NUMBER: SC064232) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2017 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Report of the Independent Auditors | 4 |
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Income Statement | 6 |
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Statement of Financial Position | 7 |
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Notes to the Financial Statements | 8 |
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PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD |
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COMPANY INFORMATION |
for the Year Ended 31 MARCH 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
Chartered Accountants |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
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SOLICITORS: |
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110 Queen Street |
Glasgow |
G1 3BX |
PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD (REGISTERED NUMBER: SC064232) |
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REPORT OF THE DIRECTORS |
for the Year Ended 31 MARCH 2017 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2017. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2016 to the date of this report. |
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Other changes in directors holding office are as follows: |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with |
applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have |
elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice |
(United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the |
financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of |
the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's |
transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to |
ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the |
assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a |
director in order to make himself aware of any relevant audit information and to establish that the company's auditors are |
aware of that information. |
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AUDITORS |
The auditors, Thomas Barrie & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD (REGISTERED NUMBER: SC064232) |
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REPORT OF THE DIRECTORS |
for the Year Ended 31 MARCH 2017 |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD |
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We have audited the financial statements of Park's of Hamilton (Downtown Garage) Ltd for the year ended 31 March 2017 |
on pages six to nine. The financial reporting framework that has been applied in their preparation is applicable law and |
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies |
Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are |
required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do |
not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit |
work, for this report, or for the opinions we have formed. |
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Respective responsibilities of directors and auditors |
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Scope of the audit of the financial statements |
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give |
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. |
This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have |
been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the |
directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial |
information in the Report of the Directors to identify material inconsistencies with the audited financial statements and to |
identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge |
acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or |
inconsistencies we consider the implications for our report. |
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Opinion on financial statements |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 March 2017 and of its profit for the year then ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Opinion on other matter prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of our audit, the information given in the Report of the Directors |
for the financial year for which the financial statements are prepared is consistent with the financial statements, and has been |
prepared in accordance with applicable legal requirements. In the light of the knowledge and understanding of the company |
and its environment, we have not identified any material misstatements in the Report of the Directors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD |
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Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, |
in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches
not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
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the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take
advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
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for and on behalf of
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Statutory Auditor |
Chartered Accountants |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
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PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD (REGISTERED NUMBER: SC064232) |
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INCOME STATEMENT |
for the Year Ended 31 MARCH 2017 |
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2016 | 2017 |
£ | Notes | £ |
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TURNOVER |
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OPERATING PROFIT and |
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PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL YEAR |
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PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD (REGISTERED NUMBER: SC064232) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2017 |
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2016 | 2017 |
£ | Notes | £ |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
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Called up share capital | 3 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
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PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD (REGISTERED NUMBER: SC064232) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Park's of Hamilton (Downtown Garage) Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The Company's Registered Office is Park House, 14 Bothwell Road, Hamilton ML3 0AY. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company was dormant throughout the current year and previous year. |
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Significant judgements and estimates |
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions |
that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, |
income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are |
reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
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There are no significant judgements or estimates included in these accounts. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and |
non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative |
financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or |
loss. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at |
fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest |
method, less any impairment. |
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Cash and cash equivalents |
Cash and cash equivalents comprises cash balances. Bank overdrafts that are payable on demand and form an |
integral part of the company's cash management are included as a component of cash and cash equivalents for the |
purpose only of the cash flow statement. |
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Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method. |
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Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market |
assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is |
recognised as finance cost. |
PARK'S OF HAMILTON (DOWNTOWN GARAGE) LTD (REGISTERED NUMBER: SC064232) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2017 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 50,000 | 50,000 |
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4. | CONTINGENT LIABILITIES |
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The company together with the parent company and all but three non trading subsidiaries within the Group have |
entered into cross guarantees in respect of each company's indebtedness to the Bank of Scotland plc. |
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5. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Park's of Hamilton (Holdings) Ltd. |
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The ultimate controlling party is
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