Registration number:
A & R Motorcycle's Ltd
trading as
for the Year Ended 31 May 2017
2 Commercial House
Abbeymead Avenue
Gloucester
GL4 5UA
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
Company Information
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Director |
Mrs Alison Wendy Bingle |
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Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
for the Year Ended 31 May 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A & R Motorcycle's Ltd for the year ended 31 May 2017 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of A & R Motorcycle's Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A & R Motorcycle's Ltd and state those matters that we have agreed to state to the Board of Directors of A & R Motorcycle's Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & R Motorcycle's Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that A & R Motorcycle's Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A & R Motorcycle's Ltd. You consider that A & R Motorcycle's Ltd 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 accounts of A & R Motorcycle's Ltd. 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 accounts.
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Abbeymead Avenue
Gloucester
GL4 5UA
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Page 2 |
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
(Registration number: 07260046)
Balance Sheet as at 31 May 2017
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Note |
2017 |
2016 |
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Current assets |
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Stocks |
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Cash at bank and in hand |
( |
( |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mrs Alison Wendy Bingle
Director
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Page 3 |
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
Statement of Changes in Equity for the Year Ended 31 May 2017
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Share capital |
Profit and loss account |
Total |
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At 1 June 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
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At 31 May 2017 |
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Share capital |
Profit and loss account |
Total |
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At 1 June 2015 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
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At 31 May 2016 |
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Page 4 |
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
Notes to the Financial Statements for the Year Ended 31 May 2017
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General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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Page 5 |
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
Notes to the Financial Statements for the Year Ended 31 May 2017
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Stocks |
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2017 |
2016 |
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Other inventories |
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Creditors |
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Note |
2017 |
2016 |
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Due within one year |
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Bank loans and overdrafts |
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- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Page 6 |
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
Notes to the Financial Statements for the Year Ended 31 May 2017
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Loans and borrowings |
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2017 |
2016 |
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Current loans and borrowings |
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Bank overdrafts |
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- |
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Dividends |
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2017 |
2016 |
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£ |
£ |
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Transition to FRS 102 |
Balance Sheet at 1 June 2015
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Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Capital and reserves |
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Total equity |
- |
- |
- |
- |
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Page 7 |
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
Notes to the Financial Statements for the Year Ended 31 May 2017
Balance Sheet at 31 May 2016
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Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Capital and reserves |
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Total equity |
- |
- |
- |
- |
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Page 8 |
A & R Motorcycle's Ltd
trading as A & R Motorcycles Ltd
Notes to the Financial Statements for the Year Ended 31 May 2017
Profit and Loss Account for the year ended 31 May 2016
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Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Turnover |
- |
- |
- |
- |
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Operating profit/(loss) |
- |
- |
- |
- |
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Profit/(loss) before tax |
- |
- |
- |
- |
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Profit/(loss) for the financial year |
- |
- |
- |
- |
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Page 9 |