David Taylor Gs (Filling Stats) 2000 Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04048600 (England and Wales)

David Taylor Garages (Filling Stations)

2000 Limited

Abridged Audited Financial Statements for the Year Ended 30 April 2017

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

G M Taylor

J M Sharpless

REGISTERED OFFICE:

Maxwells

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

04048600 (England and Wales)

AUDITORS:

Maxwells

Chartered Accountants

and Statutory Auditor

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

Barclays Bank plc

121 Queen Street

Cardiff

CF10 2BJ

FIXED ASSETS

Tangible assets

5

1,286,445

1,321,874

CURRENT ASSETS

Stocks

177,992

135,225

Debtors

2,203,008

2,073,359

Cash in hand

1,945

3,105

2,382,945

2,211,689

CREDITORS

Amounts falling due within one year

1,793,319

1,693,824

NET CURRENT ASSETS

589,626

517,865

TOTAL ASSETS LESS CURRENT LIABILITIES

1,876,071

1,839,739

PROVISIONS FOR LIABILITIES

73,337

78,959

NET ASSETS

1,802,734

1,760,780

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,801,734

1,759,780

SHAREHOLDERS' FUNDS

1,802,734

1,760,780

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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 October 2017 and were signed on its behalf by:

G M Taylor - Director

1.	STATUTORY INFORMATION

David Taylor Garages (Filling Stations) 2000 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.

The principal activity of the company in the year under review was that of garage proprietors.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

value added tax and other sales taxes.

Sales of goods and services are recognised on sale to the customer at the point of sale. Sales are usually settled

by cash, credit or payment card. Refunds are not provided for as the value of these is insignificant.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on reducing balance, 15% on reducing balance and 10% on reducing balance

Freehold land is not depreciated.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2016 - 35 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2016

1,984,949

Additions

951

At 30 April 2017

1,985,900

DEPRECIATION

At 1 May 2016

663,075

Charge for year

36,380

At 30 April 2017

699,455

NET BOOK VALUE

At 30 April 2017

1,286,445

At 30 April 2016

1,321,874

Included in cost of land and buildings is freehold land of £ 339,827 (2016 - £ 339,827 ) which is not depreciated.

6.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Bank overdrafts

733,725

681,534

Trade creditors

500,976

466,444

1,234,701

1,147,978

Bank loans and overdrafts are secured by a fixed and floating charge over all of the company's assets present and

future.

Within Trade creditors is a balance of £500,976 (2016: £466,444) with Certas Energy UK Ltd (formerly known

as GB Oils Ltd) who have a fixed charge over this balance and the balance of £391,430 (2016: £275,435) held

within Trade creditors of fellow group company David Taylor Garages (Filling Stations) Ltd together with

charges over the properties at Tredegar and Tonyrefail.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Shorney BA FCA (Senior Statutory Auditor)

for and on behalf of Maxwells

8.	CONTINGENT LIABILITIES

The company has entered into a group omnibus guarantee and set off agreement with its bankers, Barclays Bank

plc. The amount outstanding at 30 April 2017 by other group companies was £325,044 (2016: £417,466).

A balance of £391,430 (2016: £275,435) held within Trade creditors of fellow group company David Taylor

Garages (Filling Stations) Ltd also forms part of the Certas Energy UK Ltd (formerly known as GB Oils Ltd)

fixed charge.

9.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is David Taylor (Garages) Ltd, who prepare the consolidated financial

statements. The company is registered in the United Kingdom and its registered office is at 4 King Square,

Bridgwater, Somerset, TA6 3YF.