REGISTERED NUMBER: 05850042 (England and Wales)

ACTION SELF DRIVE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G C Hambleton

REGISTERED OFFICE:

Unit 2 Leviss Industrial Estate

Station Road

Stechford

Birmingham

West Midlands

B33 9AE

REGISTERED NUMBER:

05850042 (England and Wales)

ACCOUNTANTS:

UHY Hacker Young (Bham) LLP

9 - 11 Vittoria Street

Birmingham

B1 3ND

FIXED ASSETS

Tangible assets

4

754,652

727,842

CURRENT ASSETS

Debtors

5

199,917

92,542

Cash at bank

90,316

18,959

290,233

111,501

CREDITORS

Amounts falling due within one year

6

240,421

94,833

NET CURRENT ASSETS

49,812

16,668

TOTAL ASSETS LESS CURRENT LIABILITIES

804,464

744,510

CREDITORS

Amounts falling due after more than one year

7

40,000

40,000

NET ASSETS

764,464

704,510

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

754,464

694,510

764,464

704,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director on 26 April 2019 and were signed by:

G C Hambleton - Director

1.	STATUTORY INFORMATION

Action Self Drive 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 presentational and functional currency of these financial statements is sterling. All amounts in

the financial statements have been rounded to the nearest £1.

Measurement convention

The financial statements are prepared on the historical cost basis except in the instance where

assets and liabilities are stated at their fair value.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue

in operational existence for the foreseeable future. Thus they have adopted the going concern basis

of accounting in preparing these financial statements.

Basic financial instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction

costs. Trade and other creditors are recognised initially at transaction price plus attributable

transaction costs. Subsequent to initial recognition they are measured at amortised cost using the

effective interest method, less any impairment losses in the case of trade debtors. If the

arrangement constitutes a financing transaction, for example if payment is deferred beyond normal

business terms, then it is measured at the present value of future payments discounted at a market

rate of instrument for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

Taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the

profit and loss account except to the extent that it relates to items recognised directly in equity or

other income, in which case it is recognised directly in equity or other income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year,

using tax rates enacted or substantively enacted at the balance sheet date.

Deferred tax is provided on timing differences which arise from the inclusion of income and

expenses in tax assessments in periods different from those in which they are recognised in the

financial statements. Deferred tax is not recognised on permanent differences arising because

certain types of income or expense are non-taxable or are disallowable for tax or because certain tax

charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related

difference, using tax rates enacted or substantively enacted at the balance sheet date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 August 2017

209,442

956,203

1,165,645

Additions

-

203,843

203,843

Disposals

-

(98,035

)

(98,035

)

At 31 July 2018

209,442

1,062,011

1,271,453

DEPRECIATION

At 1 August 2017

-

437,803

437,803

Charge for year

-

137,709

137,709

Eliminated on disposal

-

(58,711

)

(58,711

)

At 31 July 2018

-

516,801

516,801

NET BOOK VALUE

At 31 July 2018

209,442

545,210

754,652

At 31 July 2017

209,442

518,400

727,842

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

15,972

-

Other debtors

183,945

92,542

199,917

92,542

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

10,055

Trade creditors

134,654

27,845

Taxation and social security

34,678

17,113

Other creditors

71,089

39,820

240,421

94,833

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

40,000

40,000

2018

2017

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Dean Loan Nether Whittacre

40,000

40,000