REGISTERED NUMBER:
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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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STARTIN TRACTORS LIMITED |
REGISTERED NUMBER:
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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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STARTIN TRACTORS LIMITED |
STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 4 |
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Statement of Income and Retained Earnings | 6 |
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Balance Sheet | 7 |
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Cash Flow Statement | 8 |
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Notes to the Cash Flow Statement | 9 |
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Notes to the Financial Statements | 10 |
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STARTIN TRACTORS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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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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AUDITORS: |
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Chartered Accountants |
Statutory Auditors |
The Old Council Chambers |
Halford Street |
Tamworth |
Staffordshire |
B79 7RB |
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BANKERS: |
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17 George Street |
Tamworth |
Staffordshire |
B79 7LW |
STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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STRATEGIC REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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The directors present their strategic report for the year ended 31 December 2019. |
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REVIEW OF BUSINESS |
We aim to present a balanced and comprehensive review of the development and performance of our business during the |
year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and |
is written in the context of the risks and uncertainties we face. |
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As a main tractor dealer, the company continues to deal in new and used agricultural machinery, provide servicing, |
repairs and spares. The company's activities can be classified into the following divisions:- |
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Sales of new and used tractors and machinery |
Sales of spare parts |
Servicing and repairs |
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We consider that our key financial performance indicators are those that communicate the financial performance and |
strength of the company as a whole, these being turnover and gross margin. |
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The directors are satisfied with the results for the year in all divisions. |
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The profit and loss account on page 6 shows the profit before tax has decreased from £749,763 to £399,957. |
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PRINCIPAL RISKS AND UNCERTAINTIES |
As for many businesses in our industry, the business environment in which we operate continues to be challenging. |
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ON BEHALF OF THE BOARD: |
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STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2019. |
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DIVIDENDS |
No dividends will be distributed for the year ended 31 December 2019. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2019 to the date of this |
report. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements |
in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors |
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting |
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not |
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the |
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors |
are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will
continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have |
taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the |
company's auditors are aware of that information. |
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AUDITORS |
The auditors, Philip Barnes & Co Limited, will be proposed for re-appointment at the forthcoming Annual General |
Meeting. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
STARTIN TRACTORS LIMITED |
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Opinion |
We have audited the financial statements of Startin Tractors Limited (the 'company') for the year ended |
31 December 2019 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow |
Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant |
accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and |
United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard |
applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 31 December 2019 and of its profit for the year
then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. |
Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the |
financial statements section of our report. We are independent of the company in accordance with the ethical |
requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, |
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit |
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to |
you where: |
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the directors' use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate; or |
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the directors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic |
Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors |
thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent otherwise |
explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing |
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge |
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or |
apparent material misstatements, we are required to determine whether there is a material misstatement in the financial |
statements or a material misstatement of the other information. If, based on the work we have performed, we conclude |
that there is a material misstatement of this other information, we are required to report that fact. We have nothing to |
report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
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the information given in the Strategic Report and the Report of the Directors for the financial year for which the
financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal
requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
STARTIN TRACTORS LIMITED |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, |
we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you |
if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are |
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and |
for such internal control as the directors determine necessary to enable the preparation of financial statements that are |
free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a |
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of |
accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic |
alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from |
material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. |
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs |
(UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are |
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic |
decisions of users taken on the basis of these financial statements. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting |
Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Chartered Accountants |
Statutory Auditors |
The Old Council Chambers |
Halford Street |
Tamworth |
Staffordshire |
B79 7RB |
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STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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STATEMENT OF INCOME AND RETAINED EARNINGS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ |
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TURNOVER | 3 |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT | 5 |
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Interest receivable and similar income |
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PROFIT BEFORE TAXATION |
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Tax on profit | 6 |
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PROFIT FOR THE FINANCIAL YEAR |
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Retained earnings at beginning of year |
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RETAINED EARNINGS AT END OF
YEAR |
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STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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BALANCE SHEET |
31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
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CURRENT ASSETS |
Stocks | 8 |
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Debtors | 9 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 10 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
11 |
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( |
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PROVISIONS FOR LIABILITIES | 13 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 14 |
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Share premium | 15 |
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Capital redemption reserve | 15 |
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Retained earnings | 15 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
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( |
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Tax paid | ( |
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Net cash from operating activities |
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( |
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Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
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Sale of tangible fixed assets |
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Interest received |
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Net cash from investing activities |
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( |
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Cash flows from financing activities |
Capital repayments in year | ( |
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Amount introduced by directors | 3,675 | - |
Amount withdrawn by directors | - | (3,160 | ) |
Net cash from financing activities | ( |
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Increase/(decrease) in cash and cash equivalents |
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( |
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Cash and cash equivalents at beginning of
year |
2 |
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3,276,458 |
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Cash and cash equivalents at end of year | 2 | 1,414,504 | 1,357,068 |
STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. |
RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS |
2019 | 2018 |
£ | £ |
Profit before taxation |
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Depreciation charges |
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Loss/(profit) on disposal of fixed assets |
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( |
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Finance income | (16,272 | ) | (42,385 | ) |
546,117 | 789,050 |
Decrease/(increase) in stocks |
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( |
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Decrease/(increase) in trade and other debtors |
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( |
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(Decrease)/increase in trade and other creditors | ( |
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Cash generated from operations |
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( |
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2. | CASH AND CASH EQUIVALENTS |
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The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these |
Balance Sheet amounts: |
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Year ended 31 December 2019 |
31.12.19 | 1.1.19 |
£ | £ |
Cash and cash equivalents | 1,414,504 | 1,357,068 |
Year ended 31 December 2018 |
31.12.18 | 1.1.18 |
£ | £ |
Cash and cash equivalents | 1,357,068 | 3,276,458 |
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3. | ANALYSIS OF CHANGES IN NET FUNDS |
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At 1.1.19 | Cash flow | At 31.12.19 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 1,357,068 | 57,436 | 1,414,504 |
1,357,068 |
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1,414,504 |
Debt |
Finance leases | (121,667 | ) | 121,667 | - |
(121,667 | ) | 121,667 | - |
Total | 1,235,401 | 179,103 | 1,414,504 |
STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Startin Tractors 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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The significant accounting policies applied in the preparation of the financial statements are set out below. |
These policies have been consistently applied to all periods presented unless otherwise stated. |
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Significant judgements and estimates |
The preparation of the financial statements requires judgements, estimations and assumptions to be made that |
affect the reported values of assets, liabilities, revenues and expenses. The nature of estimation and judgement |
means that actual outcomes could differ from those estimates. The estimates and associated assumptions are |
based on historical experience and other factors that are considered to be relevant. The company exercises |
judgement on the level of stock provisioning based on its knowledge of the trade and past experience. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax. |
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Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have |
transferred to the buyer. This is usually the point at which the customer has signed for or taken delivery of the |
goods. |
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Tangible fixed assets |
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Freehold 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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Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment |
losses. |
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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 Statement of Comprehensive |
Income, 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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STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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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Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured at fair |
value. |
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Creditors |
Short term trade creditors are measured at the transaction price. |
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Hire purchase commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised and depreciated over the shorter |
of the lease term and the expected useful life of the asset. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
related obligations, net of future finance charges, are included in creditors. |
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3. | TURNOVER |
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The turnover and profit before taxation are attributable to the principal activities of the company. |
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An analysis of turnover by geographical market is given below: |
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2019 | 2018 |
£ | £ |
United Kingdom |
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Europe |
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Other countries | 466,914 | 733,529 |
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STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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4. | EMPLOYEES |
2019 | 2018 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average number of employees during the year was as follows: |
2019 | 2018 |
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Management and administration | 7 | 7 |
Sales and service | 21 | 21 |
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2019 | 2018 |
£ | £ |
Directors' remuneration |
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Directors' pension contributions to money purchase schemes |
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The number of directors to whom retirement benefits were accruing was as follows: |
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Money purchase schemes |
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5. | OPERATING PROFIT |
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The operating profit is stated after charging/(crediting): |
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2019 | 2018 |
£ | £ |
Depreciation - owned assets |
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Loss/(profit) on disposal of fixed assets |
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( |
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Audit |
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Foreign exchange differences |
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( |
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6. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2019 | 2018 |
£ | £ |
Current tax: |
UK corporation tax |
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Deferred tax | ( |
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Tax on profit |
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UK corporation tax has been charged at 19% (2018 - 19%). |
STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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6. | TAXATION - continued |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is |
explained below: |
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2019 | 2018 |
£ | £ |
Profit before tax |
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Profit multiplied by the standard rate of corporation tax in the UK of
(2018 - |
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Effects of: |
Expenses not deductible for tax purposes |
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Other | - | 1,391 |
Total tax charge | 77,772 | 144,723 |
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7. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2019 |
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Additions |
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Disposals |
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( |
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( |
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At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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Eliminated on disposal |
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( |
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( |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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Included in freehold property is freehold land of approximately £350,000 (2018 - £350,000) which is not |
depreciated. |
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8. | STOCKS |
2019 | 2018 |
£ | £ |
Stocks |
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All stocks are expensed as cost of sales. |
STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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9. | DEBTORS |
2019 | 2018 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Other taxes |
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Prepayments |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 12) |
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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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Other creditors | 299,653 | 30,621 |
Directors' current accounts | 14,512 | 10,838 |
Accruals |
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11. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 12) |
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12. | LEASING AGREEMENTS |
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Minimum lease payments under hire purchase fall due as follows: |
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2019 | 2018 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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13. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 61,000 | 66,000 |
STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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13. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 January 2019 |
|
Accelerated capital allowances |
Other | (5,000 | ) |
Balance at 31 December 2019 |
|
|
The amount of net transfer from deferred tax expected to occur next year is £18,000 relating to existing timing |
differences on tangible fixed assets, etc. |
|
14. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
|
Ordinary £1 | £1 | 8,925 | 8,925 |
|
Ordinary shares carry full voting rights and have no restrictions attached. |
|
15. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
|
At 1 January 2019 |
|
|
|
9,534,665 |
Profit for the year |
|
|
At 31 December 2019 |
|
|
|
9,856,850 |
|
Retained earnings - retained earnings represents cumulative distributable profits. |
|
Share premium - the share premium reserve is a non-distributable reserve created by the issue of shares for the |
amount in excess of the nominal value. |
|
Capital redemption reserve - this is a non-distributable reserve. |
|
16. | RELATED PARTY DISCLOSURES |
|
|
2019 | 2018 |
£ | £ |
Amounts due to related parties | 14,512 | 10,838 |
|
|
2019 | 2018 |
£ | £ |
Sales |
|
|
Purchases |
|
|
Amounts due from related parties | 719,246 | 719,665 |
STARTIN TRACTORS LIMITED (REGISTERED NUMBER: 01381670) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
17. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is Mr J Startin by virtue of his majority shareholding. |