REGISTERED NUMBER: 04760699 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

A & M MOTORS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

M J O'Donnell

M O'Donnell

A P Witcombe

SECRETARY:

A P Witcombe

REGISTERED OFFICE:

11 Laura Place

Bath

BA2 4BL

REGISTERED NUMBER:

04760699 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors 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 & M Motors Limited for the year ended 30 June 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 & M Motors 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 & M Motors Limited and state those matters that we have agreed to state to the Board of Directors of A & M Motors 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 & M Motors Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A & M Motors 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 & M Motors Limited. You consider that A & M Motors 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 & M Motors 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.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

31 January 2018

FIXED ASSETS

Intangible assets

4

-

13,500

Tangible assets

5

109,337

114,850

109,337

128,350

CURRENT ASSETS

Stocks

40,417

45,574

Debtors

6

209,663

255,445

Cash at bank and in hand

202,862

345,401

452,942

646,420

CREDITORS

Amounts falling due within one year

7

215,172

309,054

NET CURRENT ASSETS

237,770

337,366

TOTAL ASSETS LESS CURRENT LIABILITIES

347,107

465,716

CREDITORS

Amounts falling due after more than one year

8

-

(1,652

)

PROVISIONS FOR LIABILITIES

9

(8,640

)

(12,297

)

NET ASSETS

338,467

451,767

CAPITAL AND RESERVES

Called up share capital

10

103

103

Retained earnings

338,364

451,664

SHAREHOLDERS' FUNDS

338,467

451,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 30 January 2018 and were signed on its behalf by:

M J O'Donnell - Director

1.	STATUTORY INFORMATION

A & M Motors 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.

Turnover

Turnover on the sale of vehicles is recognised on the transfer of risks and rewards relating to

ownership and is net of VAT and trade discounts. Turnover on the provision of services is recognised

on the date of the service being provided, and is net of VAT and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of fourteen years.

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.

Short leasehold

-

In equal instalments over the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there

is an enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2016 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

and 30 June 2017

90,000

AMORTISATION

At 1 July 2016

76,500

Charge for year

13,500

At 30 June 2017

90,000

NET BOOK VALUE

At 30 June 2017

-

At 30 June 2016

13,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 July 2016

40,593

411,919

36,615

118,872

607,999

Additions

-

4,253

256

30,523

35,032

Disposals

-

-

-

(27,446

)

(27,446

)

At 30 June 2017

40,593

416,172

36,871

121,949

615,585

DEPRECIATION

At 1 July 2016

19,584

377,151

28,018

68,396

493,149

Charge for year

2,706

8,818

2,182

15,833

29,539

Eliminated on disposal

-

-

-

(16,440

)

(16,440

)

At 30 June 2017

22,290

385,969

30,200

67,789

506,248

NET BOOK VALUE

At 30 June 2017

18,303

30,203

6,671

54,160

109,337

At 30 June 2016

21,009

34,768

8,597

50,476

114,850

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/17

30/6/16

£

£

Trade debtors

172,294

220,420

Other debtors

37,369

35,025

209,663

255,445

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/17

30/6/16

£

£

Hire purchase contracts

1,653

5,257

Trade creditors

126,380

149,775

Taxation and social security

73,403

132,182

Other creditors

13,736

21,840

215,172

309,054

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/6/17

30/6/16

£

£

Hire purchase contracts

-

1,652

9.	PROVISIONS FOR LIABILITIES

30/6/17

30/6/16

£

£

Deferred tax

8,640

12,297

Deferred

tax

£

Balance at 1 July 2016

12,297

Provided during year

(3,657

)

Balance at 30 June 2017

8,640

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/6/17

30/6/16

value:

£

£

100

Ordinary 'A' shares

£1

100

100

3

Ordinary 'B' shares

£1

3

3

103

103

Ordinary A shares carry equal voting and dividend rights and in the event of a winding up or disposal,

equal rights over any surplus assets. They do not confer any rights of redemption.

Ordinary B shares carry equal voting and dividend rights and in the event of a winding up or disposal,

equal rights over any surplus assets. They do not confer any rights to redemption.

11.	PENSION COMMITMENTS

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

scheme are charged to the profit and loss account in the period to which they relate. During the year,

the company paid £153,743 (2016: NIL) into pension schemes. As at 30.06.2017 there was a liability

of £652 (2016: NIL).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a director of the company owed the company £3,509 (2016: -£397). During the year

there were advances of £68,131 and credits of £64,225.

13.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

No significant judgements or key assumptions have had to be made by the directors in preparing

these financial statements.

14.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS102. There were

no changes on transition.