REGISTERED NUMBER: 02090524 (England and Wales)

Financial Statements for the Year Ended 31 March 2017

for

Abingdon MG Parts Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K Manners

DM Manners

SECRETARY:

K Manners

REGISTERED OFFICE:

991 Wolverhampton Road

Oldbury

West Midlands

B69 4RJ

REGISTERED NUMBER:

02090524 (England and Wales)

SENIOR STATUTORY AUDITOR:

Anna Madden FCA

AUDITORS:

Curo Professional Services Limited

Statutory Auditors

Curo House, Greenbox

Westonhall Road, Stoke Prior

Bromsgrove

Worcestershire

B60 4AL

CURRENT ASSETS

Stocks

978,335

949,572

Debtors

4

251,640

308,462

Cash in hand

435,798

423,955

1,665,773

1,681,989

CREDITORS

Amounts falling due within one year

5

588,954

686,376

NET CURRENT ASSETS

1,076,819

995,613

TOTAL ASSETS LESS CURRENT LIABILITIES

1,076,819

995,613

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

1,066,819

985,613

SHAREHOLDERS' FUNDS

1,076,819

995,613

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 6 December 2017 and were signed on its behalf by:

K Manners - Director

1.	STATUTORY INFORMATION

Abingdon MG Parts Limited 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.

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.

The financial statements have been prepared on the going concern basis. The Director is of the opinion that the

going concern basis is appropriate on the grounds that there are significant bank deposits held and positive cash

flows are forecast for the foreseeable future.

Turnover

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

value added tax and other sales taxes.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

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 21 (2016 - 21 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

217,572

264,595

Other debtors

34,068

43,867

251,640

308,462

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

389,476

419,648

Amounts owed to group undertakings

163,966

216,923

Taxation and social security

20,350

39,489

Other creditors

15,162

10,316

588,954

686,376

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anna Madden FCA (Senior Statutory Auditor)

for and on behalf of Curo Professional Services Limited

7.	RELATED PARTY DISCLOSURES

No related party transactions have occurred that were not carried out under normal trading conditions.

During the year the company sold goods and services in the ordinary course of business to Mini Spares Centre

Midlands Limited, a company in which Mr David Manners is also a director, to the sum of £14,803

(2016-£11,290). Goods purchased from Mini Spares Centre Midlands Limited amounted to £49,184 (2016 -

£59,988). The amount owed to Mini Spares Centre Midlands Limited at the year end was £2,590 (2016- £6,637),

the amount owed by Mini Spares Centre Midlands Limited at the year end was £1,483 (2016- £1,815).

The amount owed to SFT MX5 Parts Limited, a company in which Mr David Manners is a shareholder, at year

end was £242 (2016, £242).