Page Motors (Epsom) Limited - Accounts to registrar (filleted) - small 18.2
Page Motors (Epsom) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
PAGE MOTORS (EPSOM) LIMITED |
Financial Statements for the Year Ended 31 December 2017 |
PAGE MOTORS (EPSOM) LIMITED (REGISTERED NUMBER: 00278352) |
Contents of the Financial Statements |
for the year ended 31 December 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PAGE MOTORS (EPSOM) LIMITED |
Company Information |
for the year ended 31 December 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
Nightingale House |
46-48 East Street |
Epsom |
Surrey |
KT17 1HQ |
PAGE MOTORS (EPSOM) LIMITED (REGISTERED NUMBER: 00278352) |
Balance Sheet |
31 December 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
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. |
The financial statements were approved by the director on |
PAGE MOTORS (EPSOM) LIMITED (REGISTERED NUMBER: 00278352) |
Notes to the Financial Statements |
for the year ended 31 December 2017 |
1. | STATUTORY INFORMATION |
Page Motors (Epsom) Limited is a |
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 |
TURNOVER |
Turnover represents rents receivable, excluding value added tax. |
INVESTMENT PROPERTY |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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. |
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 |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, |
as either financial assets, financial liabilities or equity instruments. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PAGE MOTORS (EPSOM) LIMITED (REGISTERED NUMBER: 00278352) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2017 |
Additions |
At 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
Investment properties at 31 December 2016 comprise two freehold properties with a combined value at the |
balance sheet date amounting to £2,120,000 (2015 - one property valued at £690,000). These were valued on an |
open market basis on 31 December 2016 by the directors. |
Fair value at 31 December 2017 is represented by: |
£ |
Valuation in 2008 | 555,700 |
Valuation in 2016 | 168,187 |
Cost | 1,878,033 |
2,601,920 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | SECURED DEBTS |
A fixed charge exists over the company's investment properties in respect of the bank loans and borrowings of |
the company's parent undertaking, Page Holdings Limited. |
PAGE MOTORS (EPSOM) LIMITED (REGISTERED NUMBER: 00278352) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | CONTINGENT LIABILITIES |
The company is jointly and severally liable in respect of VAT liabilities arising in other group undertakings. The |
additional balance at 31st December 2017 was a liability of £301,366 (2016 : £227,058). |
10. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
11. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. We also use our auditors to raise |
our invoices and maintain our accounting records including preparation of our quarterly VAT returns.. |
12. | ULTIMATE CONTROLLING PARTY |
The company is under the control of the parent undertaking, Page Holdings Limited, and under the ultimate |
control of Mr R L Page. |