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Financial Statements |
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for the Year Ended 31 July 2017 |
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for |
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Car Hospitals Limited |
Trading as |
Merseyside Car Hospital |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 July 2017 |
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for |
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Car Hospitals Limited |
Trading as |
Merseyside Car Hospital |
Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Contents of the Financial Statements |
for the Year Ended 31 July 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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Car Hospitals Limited |
Trading as Merseyside Car Hospital |
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Company Information |
for the Year Ended 31 July 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Oriel House |
2-8 Oriel Road |
Bootle |
Liverpool |
Merseyside |
L20 7EP |
Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Balance Sheet |
31 July 2017 |
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31.7.17 | 31.7.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Revaluation reserve | 11 |
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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. |
Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Balance Sheet - continued |
31 July 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Notes to the Financial Statements |
for the Year Ended 31 July 2017 |
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1. | STATUTORY INFORMATION |
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Car Hospitals Limited is a
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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 represents the fair value of services provided under contracts with customers to the extent that there is |
a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete |
at the year end, turnover represents the value of the service provided to that date based on an appropriate |
proportion of the total expected consideration at completion. |
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Tangible fixed assets |
Fixed assets are recognised at historical cost less depreciation. Depreciation is provided at the following annual |
rates in order to write off each asset over its estimated useful life. |
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Freehold property | - 2% on cost |
Improvements to property | - 2% on cost |
Plant and machinery | - 25% on reducing balance |
Fixtures and fittings | - 20% on reducing balance |
Computer equipment | - 25% on reducing balance |
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Government grants |
Grants received are allocated to the profit and loss account over the period to which they relate. |
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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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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. |
Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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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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4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | Long | to |
property | leasehold | property |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2016 |
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At 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 August 2016 |
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Additions |
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Disposals |
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At 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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The freehold land and buildings were valued by Smith & Sons Surveyors on 17 October 2012 at £400,000. |
Additionally the buildings contain integral plant and machinery valued by the directors at a depreciated |
replacement cost of £100,000. The historical cost of the freehold property is £292,264, accumulated |
depreciation £52,607 |
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Cost or valuation at 31 July 2017 is represented by: |
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Improvements |
Freehold | Long | to |
property | leasehold | property |
£ | £ | £ |
Valuation in 2007 | 217,736 | - | - |
Valuation in 2012 | (10,000 | ) | - | - |
Cost | 100,385 | 191,879 | 14,354 |
308,121 | 191,879 | 14,354 |
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Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2007 | - | - | - | 217,736 |
Valuation in 2012 | - | - | - | (10,000 | ) |
Cost | 342,618 | 96,474 | 9,500 | 755,210 |
342,618 | 96,474 | 9,500 | 962,946 |
Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2016 |
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Additions |
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At 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts recoverable on contract |
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Other debtors |
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Directors' loan accounts | - | 4,902 |
Tax |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Hire purchase contracts (see note 8) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 47,368 | 71,303 |
Other creditors |
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Directors' loan accounts | 4,427 | - |
Accrued expenses |
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Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Other loans - 1-2 years |
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Other loans - 2-5 years |
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Hire purchase contracts (see note 8) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 176,229 | 155,595 |
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8. | LEASING AGREEMENTS |
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At the balance sheet date, the company has leasing commitments of £25,080. |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.7.17 | 31.7.16 |
£ | £ |
Bank overdrafts |
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Bank loans |
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The bank overdraft is secured by a charge over the land and premises at Brook Street, Birkenhead, dated 28 |
December 2001 and also by an additional fixed charge over the company's plant and machinery, fixtures and |
fittings and other equipment, dated 5 May 2005 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.17 | 31.7.16 |
value: | £ | £ |
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Ordinary A | £1 | 50 | 50 |
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Ordinary B | £1 | 50 | 50 |
100 | 100 |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 August 2016 |
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Deferred tax adjustment | 2,996 |
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At 31 July 2017 |
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Car Hospitals Limited (Registered number: 03584730) |
Trading as Merseyside Car Hospital |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 July 2017 and |
31 July 2016: |
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31.7.17 | 31.7.16 |
£ | £ |
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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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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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