REGISTERED NUMBER: |
A. HARTILL & SON (MOTOR CYCLES) LIMITED |
Unaudited Financial Statements for the Year Ended 31 March 2017 |
REGISTERED NUMBER: |
A. HARTILL & SON (MOTOR CYCLES) LIMITED |
Unaudited Financial Statements for the Year Ended 31 March 2017 |
A. HARTILL & SON (MOTOR CYCLES) LIMITED (REGISTERED NUMBER: 00526790) |
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
A. HARTILL & SON (MOTOR CYCLES) LIMITED |
Company Information |
for the Year Ended 31 March 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
A. HARTILL & SON (MOTOR CYCLES) LIMITED (REGISTERED NUMBER: 00526790) |
Balance Sheet |
31 March 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Non distributable reserve | 9 |
Retained earnings | 9 |
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. |
A. HARTILL & SON (MOTOR CYCLES) LIMITED (REGISTERED NUMBER: 00526790) |
Balance Sheet - continued |
31 March 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 by: |
A. HARTILL & SON (MOTOR CYCLES) LIMITED (REGISTERED NUMBER: 00526790) |
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
1. | STATUTORY INFORMATION |
A. Hartill & Son (Motor Cycles) Limited is a |
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 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. There were no material departures from that standard. |
These Financial Statements for the year ended 31 March 2017 are the first Financial Statements that comply with |
FRS102 Section 1A Small Entities. The date of transition is 1 April 2015. The transition to FRS102 Section 1A |
Small Entities has resulted in no changes in accountancy policies to those used previously. |
The presentation currency is £ Sterling. |
Turnover |
Turnover represents net rents receivable. |
Tangible fixed assets |
Plant and machinery etc | - | Straight line over 3 years |
Investment property |
Investment properties are shown at a valuation based upon the current annual gross rents receivable. Any |
aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. |
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 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. |
A. HARTILL & SON (MOTOR CYCLES) LIMITED (REGISTERED NUMBER: 00526790) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
and 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2016 |
and 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
Investment Properties were revalued by the Directors during the year. |
Cost or valuation at 31 March 2017 is represented by: |
£ |
Valuation in 1971 | 50,000 |
Valuation in 2010 | 187,656 |
Valuation in 2011 | (165,000 | ) |
Valuation in 2012 | (10,000 | ) |
Valuation in 2013 | 32,344 |
Valuation in 2015 | 20,000 |
Valuation in 2016 | 35,000 |
150,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Amount due from related party | 5,000 | 5,000 |
Prepayments |
A. HARTILL & SON (MOTOR CYCLES) LIMITED (REGISTERED NUMBER: 00526790) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Corporation Tax |
Directors' loan accounts | 20,954 | 21,104 |
Accrued expenses |
7. | PROVISIONS FOR LIABILITIES |
31.3.17 | 31.3.16 |
£ | £ |
Deferred tax | 3,050 | - |
Deferred |
tax |
£ |
Charge to Income Statement during year |
Balance at 31 March 2017 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.17 | 31.3.16 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
9. | RESERVES |
Non |
Retained | distributable |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2016 | 184,059 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Movement in year | - | (3,050 | ) | (3,050 | ) |
At 31 March 2017 | 185,365 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date the company owed the directors £20,954 (2016 £21,104). The movement of £(150) is |
accounted for by dividends of £1,500 less drawings of £1,650. |
A. HARTILL & SON (MOTOR CYCLES) LIMITED (REGISTERED NUMBER: 00526790) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
11. | RELATED PARTY DISCLOSURES |
The following businesses are related parties of A. Hartill & Son (Motor Cycles) Limited: |
D.B.C. Properties Limited - The directors of this company own 96% of the issued share capital of D.B.C. |
Properties Limited. |
D. Hartill Finance Limited - The directors of this company own 100% of the issued share capital of D. Hartill |
Finance Limited. |
Wrottesley Hall Estates Limited - The directors of this company own 30% of the issued share capital of |
Wrottesley Hall Estates Limited. |
The following transactions took place with these businesses during the year: |
D.B.C. Properties Limited - Ongoing loan £5,000. |
12. | ULTIMATE CONTROLLING PARTY |
The company is under the ultimate control of the Trustees of two family discretionary settlements. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
A. Hartill & Son (Motor Cycles) Limited |
The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of A. Hartill & Son (Motor Cycles) Limited for the year ended 31 March 2017 which comprise the |
Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of A. Hartill & Son (Motor Cycles) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A. Hartill & Son (Motor Cycles) Limited and state those matters that we have agreed to state to the Board of Directors of A. Hartill & Son (Motor Cycles) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A. Hartill & Son (Motor Cycles) Limited Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that A. Hartill & Son (Motor Cycles) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A. Hartill & Son (Motor Cycles) Limited. You consider that A. Hartill & Son (Motor Cycles) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of A. Hartill & Son (Motor Cycles) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
Date: ............................................. |