Clynnog and Trevor Motor Company Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00121644 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Clynnog and Trevor Motor Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

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

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

2,238,505

1,833,555

2,238,505

1,833,555

CURRENT ASSETS

Stocks

10,700

Debtors

105,987

73,646

Cash at bank and in hand

7,219

15,115

123,906

99,461

CREDITORS

Amounts falling due within one year

506,716

424,633

NET CURRENT LIABILITIES

(382,810

)

(325,172

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,855,695

1,508,383

CREDITORS

Amounts falling due after more than one
year

(1,195,509

)

(878,040

)

PROVISIONS FOR LIABILITIES

(241,098

)

(218,226

)

NET ASSETS

419,088

412,117

CAPITAL AND RESERVES

Called up share capital

4

5,000

Share premium

3,213

Other reserves

551

Profit and loss account

410,324

403,353

SHAREHOLDERS' FUNDS

419,088

412,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 8 September 2016 and were signed on its behalf
by:

Mr E W Griffiths - Director

Mr D C Jones - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of two years.

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

-

in accordance with the property

Plant and machinery etc

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

15,000

AMORTISATION

At 1 July 2015

and 30 June 2016

15,000

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

3,602,508

Additions

774,708

Disposals

(78,500

)

At 30 June 2016

4,298,716

DEPRECIATION

At 1 July 2015

1,768,953

Charge for year

291,258

At 30 June 2016

2,060,211

NET BOOK VALUE

At 30 June 2016

2,238,505

At 30 June 2015

1,833,555

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

10,000

Ordinary

£0.50

5,000

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

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 2016 which comprise

the Profit and Loss Account, the 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 at icaew.com/membershandbook.

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 AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its 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 profit 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: .............................................