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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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AMG SALES & LEASING LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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FOR |
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AMG SALES & LEASING LIMITED |
AMG SALES & LEASING LIMITED (REGISTERED NUMBER: 08941932) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 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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AMG SALES & LEASING LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 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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INDEPENDENT AUDITORS : |
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Registered Auditors |
Murrills House |
48 East Street |
Portchester |
Fareham |
Hampshire |
PO16 9XS |
AMG SALES & LEASING LIMITED (REGISTERED NUMBER: 08941932) |
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BALANCE SHEET |
31 MAY 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/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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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
by: |
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AMG SALES & LEASING LIMITED (REGISTERED NUMBER: 08941932) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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1. | STATUTORY INFORMATION |
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Amg Sales & Leasing 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about AMG Sales & Leasing Limited as an individual company and |
do not contain consolidated financial information. The company is exempt under Section 400 of the Companies |
Act 2006 from the requirements to prepare consolidated financial statements as it is included by full |
consolidation in the consolidated financial statements of its parent, Apollo Motor Group Limited, Unit 6, |
Fitzherbert Road, Cosham, Hampshire, PO6 1RU. |
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Turnover |
Turnover represents amounts receivable for the lease of vehicles, exclusive of VAT. |
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Tangible fixed assets |
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Motor vehicles | - |
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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. |
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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. |
AMG SALES & LEASING LIMITED (REGISTERED NUMBER: 08941932) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2016 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
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COST |
Additions |
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At 31 May 2017 |
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DEPRECIATION |
Charge for year |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | LEASING AGREEMENTS |
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The company is committed to making payments of £287,729 under non-cancellable operating leases. |
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The company is entitled to future income of £342,754 under non cancellable operating leases issued. |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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AMG SALES & LEASING LIMITED (REGISTERED NUMBER: 08941932) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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9. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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10. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. |
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11. | FIRST YEAR ADOPTION |
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There have been no adjustments to the financial statements as a result of transition to FRS102. |