REGISTERED NUMBER: 01856688 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

A & R MOTOR SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J C Roberts

P Hobson

SECRETARY:

Mrs. C L Duckenfield

REGISTERED OFFICE:

33 - 35 Bold Street

SHEFFIELD

S9 2LR

REGISTERED NUMBER:

01856688 (England and Wales)

ACCOUNTANTS:

David Booker FCA

63 Stumperlowe Crescent Road

Sheffield

South Yorkshire

S10 3PR

BANKERS:

Barclays Bank plc

2 - 12 Pinstone Street

Sheffield

South Yorkshire

S1 2HN

FIXED ASSETS

Tangible assets

4

485,340

520,720

CURRENT ASSETS

Stocks

29,634

31,874

Debtors

5

180,219

199,417

Cash at bank

1,051

2,547

210,904

233,838

CREDITORS

Amounts falling due within one year

6

230,662

258,336

NET CURRENT LIABILITIES

(19,758

)

(24,498

)

TOTAL ASSETS LESS CURRENT LIABILITIES

465,582

496,222

CREDITORS

Amounts falling due after more than one year

7

(78,168

)

(93,409

)

PROVISIONS FOR LIABILITIES

(8,300

)

(8,400

)

NET ASSETS

379,114

394,413

CAPITAL AND RESERVES

Called up share capital

9

100

100

Revaluation reserve

10

162,495

253,056

Retained earnings

10

216,519

141,257

SHAREHOLDERS' FUNDS

379,114

394,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 19 December 2017 and were signed on its behalf by:

J C Roberts - Director

P Hobson - Director

1.	STATUTORY INFORMATION

A & R Motor Services 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 as modified by the revaluation of certain assets.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the

year, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Revaluation of tangible fixed assets

Freehold and leasehold properties are carried at current market year value at the balance sheet date. Valuations

are obtained from a qualified valuer for each property on a regular basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2016

565,000

410,037

975,037

Additions

-

6,266

6,266

Revaluations

(130,000

)

-

(130,000

)

At 31 March 2017

435,000

416,303

851,303

DEPRECIATION

At 1 April 2016

96,058

358,259

454,317

Charge for year

-

7,704

7,704

Revaluation adjustments

(96,058

)

-

(96,058

)

At 31 March 2017

-

365,963

365,963

NET BOOK VALUE

At 31 March 2017

435,000

50,340

485,340

At 31 March 2016

468,942

51,778

520,720

Cost or valuation at 31 March 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2017

435,000

-

435,000

Cost

-

416,303

416,303

435,000

416,303

851,303

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

2017

2016

£

£

Cost

272,505

272,505

Aggregate depreciation

114,060

108,610

Freehold land and buildings were valued on an open market basis basis on 28 July 2017 by Eddisons Taylors, Chartered Surveyors

.

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as

follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 April 2016

12,190

Transfer to ownership

(12,190

)

At 31 March 2017

-

DEPRECIATION

At 1 April 2016

5,545

Transfer to ownership

(5,545

)

At 31 March 2017

-

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

6,645

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

159,635

182,639

Amounts owed by group undertakings

20,584

16,778

180,219

199,417

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

22,295

55,832

Trade creditors

109,868

86,362

Corporation Tax

7,814

2,623

Social security and other taxes

20,751

7,796

VAT

18,913

20,052

Other creditors

1,031

16,223

Directors' current accounts

49,320

68,848

Accrued expenses

670

600

230,662

258,336

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 2-5 years

57,900

52,564

Bank loans more 5 yr by instal

20,268

40,845

78,168

93,409

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

20,268

40,845

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

7,820

45,319

Bank loans

92,643

103,922

100,463

149,241

Bank loans and overdrafts are secured by fixed and floating charges over the undertaking and the freehold land

and buildings owned by the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 April 2016

141,257

253,056

394,313

Profit for the year

18,643

-

18,643

Transfer between Revaluation

reserve and P/L account

56,619

(56,619

)

-

Deficit on revaluation

-

(33,942

)

(33,942

)

At 31 March 2017

216,519

162,495

379,014

11.	CONTINGENT LIABILITIES

The company has given a cross guarantee to secure the borrowings of its parent company. Its potential liability

at 31 March 2017 was £73,815 (2016 - £93,233).

12.	FIRST YEAR ADOPTION

The company has adopted FRS102 1A for its year ended 31 March 2017 and the transition date is 1 April 2015.

Following the adoption of FRS102 1A, there are no differences in Equity and Profit or Loss that need to be

reconciled between old UK GAAP and FRS102 .