APEX MOTOR COMPANY (SWINDON) LTD

Company Registration Number:
09065148 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2018

Period of accounts

Start date: 01 July 2017

End date: 30 June 2018

APEX MOTOR COMPANY (SWINDON) LTD

Contents of the Financial Statements

for the Period Ended 30 June 2018

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 9

APEX MOTOR COMPANY (SWINDON) LTD

Company Information

for the Period Ended 30 June 2018




Director: P N Roberts
C A Roberts
N C Hunt
Registered office: Unit 23 Rushy Platt
Caen View
Swindon
England
SN5 8WQ
Company Registration Number: 09065148 (England and Wales)

APEX MOTOR COMPANY (SWINDON) LTD

Directors' Report Period Ended 30 June 2018

The directors present their report with the financial statements of the company for the period ended 30 June 2018

Principal Activities

The principal activity of the company is the sale of motor vehicles.

Additional information

The directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under the law 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 the profit and loss of the company for that period. In preparing these financial statements, the directors are required to select suitable accounting policies, make judgements and accounting estimates that are reasonable and prudent, and prepare the financial statements on the on-going concern basis. 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 taking reasonable steps for the prevention of fraud and other irregularities. Note: NC Hunt resigned as Director on 3rd August 2018

Directors

The directors shown below have held office during the whole of the period from 01 July 2017 to 30 June 2018
P N Roberts
C A Roberts
N C Hunt

This report was approved by the board of directors on 7 November 2018
And Signed On Behalf Of The Board By:

Name: P N Roberts
Status: Director

APEX MOTOR COMPANY (SWINDON) LTD

Profit and Loss Account

for the Period Ended 30 June 2018


Notes

2018
£

2017
£
Turnover 3,655,796 4,329,172
Cost of sales (3,462,974) (4,104,733)
Gross Profit or (Loss) 192,822 224,439
Administrative Expenses (137,721) (162,806)
Operating Profit or (Loss) 55,101 61,633
Interest Payable and Similar Charges (54,035) (60,665)
Profit or (Loss) Before Tax 1,066 968
Tax on Profit (202) (191)
Profit or (Loss) for Period 864 777

The notes form part of these financial statements

APEX MOTOR COMPANY (SWINDON) LTD

Balance sheet

As at 30 June 2018


Notes

2018
£

2017
£
Fixed assets
Total fixed assets: - -
Current assets
Stocks: 497,810 404,485
Cash at bank and in hand: 8,886 48,859
Total current assets: 506,696 453,344
Creditors: amounts falling due within one year: 2 ( 503,134 ) ( 450,646 )
Net current assets (liabilities): 3,562 2,698
Total assets less current liabilities: 3,562 2,698
Total net assets (liabilities): 3,562 2,698

The notes form part of these financial statements

APEX MOTOR COMPANY (SWINDON) LTD

Balance sheet continued

As at 30 June 2018


Notes

2018
£

2017
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 3,462 2,598
Shareholders funds: 3,562 2,698

For the year ending 30 June 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 7 November 2018
And Signed On Behalf Of The Board By:

Name: P N Roberts
Status: Director

The notes form part of these financial statements

APEX MOTOR COMPANY (SWINDON) LTD

Notes to the Financial Statements

for the Period Ended 30 June 2018

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

APEX MOTOR COMPANY (SWINDON) LTD

Notes to the Financial Statements

for the Period Ended 30 June 2018

2.Creditors: amounts falling due within one year note


2018
£

2017
£
Taxation and social security 202 191
Accruals and deferred income 5,122 9,475
Other creditors 497,810 440,980
Total 503,134 450,646

APEX MOTOR COMPANY (SWINDON) LTD

Notes to the Financial Statements

for the Period Ended 30 June 2018

3.1.Related party disclosures

Name of related party: Oxford Sports Cars
Description of relationship:
Company Shareholders
Description of the transaction:
Oxford Sports Cars Ltd was paid fees totalling £7,553 (2017: £18,961) and interest totalling £52,520 (2017:£56,421). The loan balance due to Oxford Sports Cars Ltd at the year-end was £497,810 (2017:£401,130).
Balance at 01 July 2017 401,130
Balance at 30 June 2018 497,810

Name of related party: Nathan Hunt Cars Ltd
Description of relationship:
Shareholders/ associated company
Description of the transaction:
Nathan Hunt Cars Ltd was paid fees totalling £4,212 (2017: £18,844) and interest totalling £1,515 (2017: £4,245). The loan balance due to Nathan Hunt Cars Ltd at the year-end was nil (2017: £39,850).
Balance at 01 July 2017 39,850
Balance at 30 June 2018 0

Consultancy services and stock funding are provided by the companys shareholders and associated companies. Fees for the services are shown in the Profit and Loss Account as management charges within Administrative Expenses and interest is paid on the stock funding.