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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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Briant Tyres and Exhausts Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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for |
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Briant Tyres and Exhausts Limited |
Briant Tyres and Exhausts Limited (Registered number: 05404856) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
Briant Tyres and Exhausts Limited |
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Company Information |
for the Year Ended 31 August 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Mews |
Hounds Road |
Chipping Sodbury |
Bristol |
BS37 6EE |
Briant Tyres and Exhausts Limited (Registered number: 05404856) |
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Balance Sheet |
31 August 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Briant Tyres and Exhausts Limited (Registered number: 05404856) |
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Balance Sheet - continued |
31 August 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Briant Tyres and Exhausts Limited (Registered number: 05404856) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2018 |
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1. | STATUTORY INFORMATION |
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Briant Tyres and Exhausts Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Goodwill |
Goodwill, paid in connection with the acquisition of businesses in 2007 is being amortised evenly over its estimated useful |
life of 9 years. |
Goodwill relating to the acquisition of further branches in 2013 is being amortised evenly over its estimated useful life of 5 |
years. |
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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. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Briant Tyres and Exhausts Limited (Registered number: 05404856) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 September 2017 |
and 31 August 2018 |
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AMORTISATION |
At 1 September 2017 |
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Amortisation for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 September 2017 |
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Additions |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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Briant Tyres and Exhausts Limited (Registered number: 05404856) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2017 |
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Additions |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts (see note 8) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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2018 | 2017 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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The bank loan is secured by a fixed and floating charge over the assets of the company. |
Briant Tyres and Exhausts Limited (Registered number: 05404856) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 August 2018 and 31 August 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The loan account was charged to interest using HM Revenue and Customs official rates of interest. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Briant Tyres and Exhausts Limited |
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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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of Briant Tyres and Exhausts Limited for the year ended 31 August 2018 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. |
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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. |
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This report is made solely to the Board of Directors of Briant Tyres and Exhausts 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 Briant Tyres and Exhausts Limited and state those matters that we have agreed to state to the Board of Directors of Briant Tyres and Exhausts 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 Briant Tyres and Exhausts Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Briant Tyres and Exhausts 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 Briant Tyres and Exhausts Limited. You consider that Briant Tyres and Exhausts Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Briant Tyres and Exhausts 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. |
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The Mews |
Hounds Road |
Chipping Sodbury |
Bristol |
BS37 6EE |
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Date: ............................................. |