David Taylor Ggs (Filling Stats) Limited - Accounts to registrar (filleted) - small 17.3
David Taylor Ggs (Filling Stats) Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
David Taylor Garages (Filling |
Stations) Limited |
Abridged Audited Financial Statements for the Year Ended 30 April 2017 |
David Taylor Garages (Filling |
Stations) Limited (Registered number: 04048438) |
Contents of the 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 |
David Taylor Garages (Filling |
Stations) Limited |
Company Information |
for the Year Ended 30 April 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditor |
4 King Square |
Bridgwater |
Somerset |
TA6 3YF |
BANKERS: |
121 Queen Street |
Cardiff |
CF10 2BJ |
David Taylor Garages (Filling |
Stations) Limited (Registered number: 04048438) |
Abridged Statement of Financial Position |
30 April 2017 |
30.4.17 | 30.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
David Taylor Garages (Filling |
Stations) Limited (Registered number: 04048438) |
Abridged Statement of Financial Position - continued |
30 April 2017 |
The financial statements were approved by the Board of Directors on |
David Taylor Garages (Filling |
Stations) Limited (Registered number: 04048438) |
Notes to the Financial Statements |
for the Year Ended 30 April 2017 |
1. | STATUTORY INFORMATION |
David Taylor Garages (Filling Stations) Limited is a |
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 |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Land and buildings | - |
Plant and machinery etc | - |
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. |
David Taylor Garages (Filling |
Stations) Limited (Registered number: 04048438) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
3. | ACCOUNTING POLICIES - continued |
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 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2016 |
Additions |
Disposals | ( |
) |
At 30 April 2017 |
DEPRECIATION |
At 1 May 2016 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2017 |
NET BOOK VALUE |
At 30 April 2017 |
At 30 April 2016 |
Included in cost of land and buildings is freehold land of £ 855,000 (2016 - £ 855,000 ) which is not depreciated. |
David Taylor Garages (Filling |
Stations) Limited (Registered number: 04048438) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.17 | 30.4.16 |
£ | £ |
Bank overdrafts |
Trade creditors | 391,430 | 275,435 |
Bank loans and overdrafts are secured by a fixed and floating charge over the company's assets present and |
future. |
Within Trade creditors is a balance of £391,430 (2016: £275,435) with Certas Energy UK Ltd (formerly known |
as GB Oils Ltd) who have a fixed charge over this balance and the balance of £500,976 (2016: £466,444) held |
within Trade creditors of fellow group company David Taylor Garages (Filling Stations) 2000 Ltd. |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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 £797,938 (2016: £805,808). |
A balance of £500,976 (2016: £466,444) held within Trade creditors of fellow group company David Taylor |
Garages (Filling Stations) 2000 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. |