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REGISTERED NUMBER:
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RANDALL HOWELL AND SON ACCIDENT REPAIR |
CENTRE LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2017 |
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REGISTERED NUMBER:
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RANDALL HOWELL AND SON ACCIDENT REPAIR |
CENTRE LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2017 |
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RANDALL HOWELL AND SON ACCIDENT REPAIR |
CENTRE LIMITED (REGISTERED NUMBER: 05508294) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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RANDALL HOWELL AND SON ACCIDENT REPAIR |
CENTRE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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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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Chartered Accountants |
Elfed House |
Oak Tree Court |
Cardiff Gate Business Park |
CARDIFF |
County of Cardiff |
CF23 8RS |
RANDALL HOWELL AND SON ACCIDENT REPAIR |
CENTRE LIMITED (REGISTERED NUMBER: 05508294) |
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BALANCE SHEET |
31 AUGUST 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT ASSETS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved for issue by the Board of Directors on
behalf by: |
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RANDALL HOWELL AND SON ACCIDENT REPAIR |
CENTRE LIMITED (REGISTERED NUMBER: 05508294) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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1. | STATUTORY INFORMATION |
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Randall Howell and Son Accident Repair Centre Limited is a
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England and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to |
the nearest pound. |
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The significant accounting policies applied in the presentation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements for the year ended 30 June 2017 are the first financial statements that comply with |
Financial Reporting Standard 102 1A. The date of transition is 1 July 2015. |
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There have been no material departures from Financial Reporting Standard 102 1A. |
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The transition to Financial Reporting Standard 102 1A has resulted in no changes to existing accounting |
policies. |
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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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Turnover is recognised on completion of a repair to a vehicle. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life or, if held under a finance lease, over the lease term, whichever is the shorter. |
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Long leasehold | - | 10% on cost |
Plant and machinery | - | 20% on cost |
Fixtures and fittings | - | 25% on cost |
Motor vehicles | - | 20-25% on cost |
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Stocks |
Stocks and work in progress 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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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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RANDALL HOWELL AND SON ACCIDENT REPAIR |
CENTRE LIMITED (REGISTERED NUMBER: 05508294) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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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. |
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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. |
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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. |
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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. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2016 |
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Additions |
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At 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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RANDALL HOWELL AND SON ACCIDENT REPAIR |
CENTRE LIMITED (REGISTERED NUMBER: 05508294) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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VAT | 37,806 | 48,363 |
Other creditors |
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Director's loan account | 784 | 4,443 |
Accruals and deferred income |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdrafts |
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7. | FINANCIAL COMMITMENTS |
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The company has operating lease commitments at the year end totalling £81,103. |