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REGISTERED NUMBER: 05727654 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

DORSET SPORTS CARS GROUP LTD

DORSET SPORTS CARS GROUP LTD (REGISTERED NUMBER: 05727654)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DORSET SPORTS CARS GROUP LTD

COMPANY INFORMATION
for the Year Ended 31 March 2018







DIRECTORS: T D Speed
P J Winter





SECRETARY: P J Winter





REGISTERED OFFICE: Three Cross Garage, 99 Ringwood Road
Three Legged Cross
Wimborne
Dorset
BH21 6RD





REGISTERED NUMBER: 05727654 (England and Wales)





ACCOUNTANTS: Enhance
Chartered Accountants & Tax Advisers
38 Middlehill Road
Colehill
Wimborne
Dorset
BH21 2SE

DORSET SPORTS CARS GROUP LTD (REGISTERED NUMBER: 05727654)

BALANCE SHEET
31 March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,143,104 1,098,422
Investments 6 100 100
1,143,204 1,098,522

CURRENT ASSETS
Stocks 23,142 1,242,618
Debtors 7 3,459 77,402
Cash at bank and in hand 4,461 11,456
31,062 1,331,476
CREDITORS
Amounts falling due within one year 8 90,856 1,058,326
NET CURRENT (LIABILITIES)/ASSETS (59,794 ) 273,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,083,410

1,371,672

CREDITORS
Amounts falling due after more than one
year

9

(505,425

)

(804,540

)

PROVISIONS FOR LIABILITIES - (8,895 )
NET ASSETS 577,985 558,237

DORSET SPORTS CARS GROUP LTD (REGISTERED NUMBER: 05727654)

BALANCE SHEET - continued
31 March 2018

2018 2017
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 577,975 558,227
SHAREHOLDERS' FUNDS 577,985 558,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 13 November 2018 and were signed on
its behalf by:





P J Winter - Director


DORSET SPORTS CARS GROUP LTD (REGISTERED NUMBER: 05727654)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Dorset Sports Cars Group Ltd is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are
measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


DORSET SPORTS CARS GROUP LTD (REGISTERED NUMBER: 05727654)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

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.

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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 17 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2017
and 31 March 2018 20,000
AMORTISATION
At 1 April 2017
and 31 March 2018 20,000
NET BOOK VALUE
At 31 March 2018 -
At 31 March 2017 -

DORSET SPORTS CARS GROUP LTD (REGISTERED NUMBER: 05727654)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2017 1,044,570 94,623 89,445 16,679 1,245,317
Additions 97,298 - - - 97,298
Disposals - (94,623 ) (50,445 ) (16,679 ) (161,747 )
At 31 March 2018 1,141,868 - 39,000 - 1,180,868
DEPRECIATION
At 1 April 2017 - 68,890 62,812 15,193 146,895
Charge for year - - 412 - 412
Eliminated on disposal - (68,890 ) (25,460 ) (15,193 ) (109,543 )
At 31 March 2018 - - 37,764 - 37,764
NET BOOK VALUE
At 31 March 2018 1,141,868 - 1,236 - 1,143,104
At 31 March 2017 1,044,570 25,733 26,633 1,486 1,098,422

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2017 35,036
Disposals (35,036 )
At 31 March 2018 -
DEPRECIATION
At 1 April 2017 15,324
Eliminated on disposal (15,324 )
At 31 March 2018 -
NET BOOK VALUE
At 31 March 2018 -
At 31 March 2017 19,712

DORSET SPORTS CARS GROUP LTD (REGISTERED NUMBER: 05727654)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2017
and 31 March 2018 100
NET BOOK VALUE
At 31 March 2018 100
At 31 March 2017 100

The company holds 100 shares (100% of the share capital) in Dorset Sports Cars Ltd.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors - 55,634
Other debtors 3,459 21,768
3,459 77,402

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 56,985 679,387
Hire purchase contracts - 28,074
Trade creditors - 84,767
Taxation and social security 19,108 52,350
Other creditors 14,763 213,748
90,856 1,058,326

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2018 2017
£    £   
Bank loans 304,375 236,092
Hire purchase contracts - 39,148
Other creditors 201,050 529,300
505,425 804,540

DORSET SPORTS CARS GROUP LTD (REGISTERED NUMBER: 05727654)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

10. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank overdraft - 101,712
Bank loans 361,360 813,767
Hire purchase contracts - 67,222
Other loans - 40,000
361,360 1,022,701

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £40,200 (2017 - £24,000) were paid to the directors .

P J Winter (director) is owed £10,650 by the company (2017: £274.078) at the balance sheet date.

T D Speed (director) is owed £26 by the company (2017: £149,063) at the balance sheet date.

Included within other debtors is a balance of £640 due to the company from Dorset Sports Cars Ltd
(subsidiary). The loan is interest free and repayable on demand.

Included within other creditors is a balance of £2,587 due to Canford Developments Ltd, a company
in which P J Winter is a Director and shareholder. The loan is interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is P J Winter.

P J Winter owns 60% of the issued share capital.