Clynnog and Trevor Motor Company Limited - Accounts to registrar (filleted) - small 17.3

Clynnog and Trevor Motor Company Limited - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: 00121644(England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2017

for

Clynnog and Trevor Motor Company Limited

Clynnog and Trevor Motor Company Limited (Registered number: 00121644)






Contents of the Financial Statements
for the Year Ended 30 June 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Clynnog and Trevor Motor Company Limited

Company Information
for the Year Ended 30 June 2017







DIRECTORS: Mr J T Williams
Mr D C Jones
Mr E W Griffiths
Mr G R Parry





SECRETARY: Mrs I Williams





REGISTERED OFFICE: The Garage
Trefor
Caernarfon
Gwynedd
LL54 5HP





REGISTERED NUMBER: 00121644(England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Clynnog and Trevor Motor Company Limited (Registered number: 00121644)

Balance Sheet
30 June 2017

30.6.17 30.6.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,051,537 2,238,505
2,051,537 2,238,505

CURRENT ASSETS
Stocks 10,700 10,700
Debtors 6 66,091 105,987
Cash at bank and in hand 4,879 7,219
81,670 123,906
CREDITORS
Amounts falling due within one year 7 500,840 506,716
NET CURRENT LIABILITIES (419,170 ) (382,810 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,632,367

1,855,695

CREDITORS
Amounts falling due after more than one
year

8

(1,008,638

)

(1,195,509

)

PROVISIONS FOR LIABILITIES (262,577 ) (241,098 )
NET ASSETS 361,152 419,088

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Share premium 3,213 3,213
Other reserves 551 551
Retained earnings 352,388 410,324
SHAREHOLDERS' FUNDS 361,152 419,088

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.

Clynnog and Trevor Motor Company Limited (Registered number: 00121644)

Balance Sheet - continued
30 June 2017


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 22 February 2018and were signed on its behalf
by:




Mr E W Griffiths- Director



Mr D C Jones- Director


Clynnog and Trevor Motor Company Limited (Registered number: 00121644)

Notes to the Financial Statements
for the Year Ended 30 June 2017

1. STATUTORY INFORMATION

Clynnog and Trevor Motor Company 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and
accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets,
less their estimated residual value, over their expected useful lives.

Assets held under hire purchase agreements of finance leases are depreciated in the same way as owned assets.

Freehold Property is depreciated on a straight line basis over 50 years.

Land held at Llandegai is not depreciated.

Motor Vehicles, Plant and Machinery, Fixtures and Computer Equipment are all depreciated at 15% reducing
balance basis.

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.


Clynnog and Trevor Motor Company Limited (Registered number: 00121644)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2017

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20(2016 - 20) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2016
and 30 June 2017 15,000
AMORTISATION
At 1 July 2016
and 30 June 2017 15,000
NET BOOK VALUE
At 30 June 2017 -
At 30 June 2016 -

Clynnog and Trevor Motor Company Limited (Registered number: 00121644)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2017

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2016 426,377 3,872,339 4,298,716
Additions - 122,305 122,305
Disposals - (9,500 ) (9,500 )
At 30 June 2017 426,377 3,985,144 4,411,521
DEPRECIATION
At 1 July 2016 44,892 2,015,319 2,060,211
Charge for year 4,328 295,445 299,773
At 30 June 2017 49,220 2,310,764 2,359,984
NET BOOK VALUE
At 30 June 2017 377,157 1,674,380 2,051,537
At 30 June 2016 381,485 1,857,020 2,238,505

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.17 30.6.16
£    £   
Trade debtors 56,921 75,446
Other debtors 9,170 30,541
66,091 105,987

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.17 30.6.16
£    £   
Bank loans and overdrafts 149,261 76,487
Hire purchase contracts 280,087 371,079
Trade creditors 55,867 39,888
Taxation and social security 9,957 6,670
Other creditors 5,668 12,592
500,840 506,716

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.17 30.6.16
£    £   
Bank loans 213,389 191,768
Hire purchase contracts 795,249 979,484
Other creditors - 24,257
1,008,638 1,195,509

Clynnog and Trevor Motor Company Limited (Registered number: 00121644)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2017

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.17 30.6.16
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Santander loan more 5 yr 92,335 -

Clynnog and Trevor Motor Company Limited (Registered number: 00121644)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2017

9. REGISTER OF CHARGES

Midland Bank Plc

Charge date: 31/01/1997

Type: Legal Mortgage

Charge description:
All money and liabilities whatever, whenever and howsoever incurred by the Company whether now or in the
future.

Property charged:
Land ajoining the Bus Depot, Trefor, Caernarfon.

Midland Bank Plc

Charge date: 08/05/1996

Type: Legal Mortgage

Charge description:
All money and liabilities whatever, whenever and howsoever incurred by the Company whether now or in the
future.

Property charged:
Land adjoining The Garage Clynnog & Trevor Motor Company Ltd, Trevor, Caernarfon, Gwynedd.

Midland Bank Plc

Charge date: 08/05/1996

Type: Legal Mortgage

Charge description:
All money and liabilities whatever, whenever and howsoever incurred by the Company whether now or in the
future.

Property charged:
The Garage Clynnog & Trevor Motor Company Ltd, Trevor, Caernarfon, Gwynedd.

Midland Bank Plc

Charge date: 11/04/1996

Type: Legal Mortgage

Charge description:
All money and liabilities whatever, whenever and howsoever incurred by the Company whether now or in the
future.

Property charged:
Land and Buildings on the South Side of Croes Higol Road Trefor, Caernarfon, Gwynedd.

Midland Bank Plc

Charge date: 20/02/1996

Type: Fixed and floating charge

Clynnog and Trevor Motor Company Limited (Registered number: 00121644)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2017

Charge description:
All money and liabilities whatever, whenever and howsoever incurred by the Company whether now or in the
future.

Property charged:
First fixed charge on all book debts and other debts now and from time to time hereafter due owing or incurred to
the Company other than such of the said debts as the Bank may have specifically agreed in writing to exclude
from such first fixed charge; and all goodwill and uncalled capital for the time being of the Company; and all
patents patent applications inventions trade marks trade names registered designs copyrights know how and other
intellectual property rights and all licences and ancillary rights and benefits including all royalties fees and other
income deriving from the same both present and future of the Company; and floating charge on all other the
undertaking of the company and all its property whatsoever and wheresoever both present and future including
its uncalled capital for the time being and such of the book debts and other debts referred to above which are not
charged under the said first fixed charge (collectively called 'the assets') but so that the Company shall not except
with the prior written consent of the Bank:
(a) create or permit to subsist over all or any of the assets any mortgage charge lien pledge or other security
ranking in priority to or pari passu with the said floating charge; or
(b) part with sell or dispose of all or except in the ordinary course of the Company's business and for the purpose
of carrying on the same any of the assets;or
(c) deal with its book or other debts or securities for money forming part of the assets otherwise than in the
ordinary course of getting in and realising the same which course shall not include or extend to the selling or
assigning or in any other way factoring or discounting of any of the said debts or securities.



Santander UK plc

Charge date: 12/08/2015

Type: Legal Charge

Property charged:
All that freehold property Unit 2, Llandeglai Industrial Unit, Llandeglai Road, LL57 1AT.



Santander UK plc

Charge date: 11/08/2015

Type: Legal Charge

Charge description:
All money and liabilities whatever, whenever and howsoever incurred by the Company whether now or in the
future.

Property charged:
All that freehold property Glanfaron House, Trefor, Caernarfon, LL54 5HP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Clynnog and Trevor Motor Company Limited

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 Clynnog and Trevor Motor Company 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 Clynnog and Trevor Motor Company 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 Clynnog and Trevor Motor Company Limited and state those matters that we have agreed to state to the Board of Directors of Clynnog and Trevor Motor Company 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 Clynnog and Trevor Motor Company Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Clynnog and Trevor Motor Company 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 loss of Clynnog and Trevor Motor Company Limited. You consider that Clynnog and Trevor Motor Company 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 Clynnog and Trevor Motor Company 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.






Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP


Date: .............................................