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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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PINNS AUTOMOTIVE UK LTD |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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PINNS AUTOMOTIVE UK LTD |
PINNS AUTOMOTIVE UK LTD (REGISTERED NUMBER: 07842230) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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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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PINNS AUTOMOTIVE UK LTD |
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Company Information |
for the Year Ended 31 March 2017 |
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DIRECTOR: |
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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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2 Wheeleys Road |
Edgbaston |
Birmingham |
West Midlands |
B15 2LD |
PINNS AUTOMOTIVE UK LTD (REGISTERED NUMBER: 07842230) |
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Balance Sheet |
31 March 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 at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CREDITORS |
Amounts falling due after more than
one year |
6 |
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NET LIABILITIES | ( |
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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 director acknowledges his 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. |
PINNS AUTOMOTIVE UK LTD (REGISTERED NUMBER: 07842230) |
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Balance Sheet - continued |
31 March 2017 |
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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 director on
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PINNS AUTOMOTIVE UK LTD (REGISTERED NUMBER: 07842230) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Pinns Automotive Uk Ltd is a
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The 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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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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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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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. |
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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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PINNS AUTOMOTIVE UK LTD (REGISTERED NUMBER: 07842230) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 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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3. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
VAT |
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PINNS AUTOMOTIVE UK LTD (REGISTERED NUMBER: 07842230) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Due to associated company | - | 20,895 |
Directors' current accounts | - | 19,400 |
Accrued expenses |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Director Loan Account | 19,400 | - |
Due to associated company | 20,895 | - |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Director Loan Account | 19,400 | - |
Due to associated company | 20,895 | - |
40,295 | - |
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7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2017 |
and 31 March 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year | ( |
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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 directors loan account balance of (£19,400) Creditor (£19,400 Creditor in 2016) is shown as |
long term liability as the director has agreed that the amount owed to them will not be collected |
within the next 12 months. |
PINNS AUTOMOTIVE UK LTD (REGISTERED NUMBER: 07842230) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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8. | RELATED PARTY DISCLOSURES |
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Pinns Automotive (UK) Ltd owes £20,895 (2016 = £20,895) to the related party Seth Trading Ltd |
(comp reg 03471019). This is shown as long term creditor as there is no requirement for the |
amount owed to be paid back within the next 12 months |
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9. | ULTIMATE CONTROLLING PARTY |
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Ultimate controlling party is Mr Pradeep Suresh Seth. |