Russ Motorcycle Tyres Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09853206 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2018

for

Russ Motorcycle Tyres Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R L Tappenden

SECRETARY:

Mrs P Tappenden

REGISTERED OFFICE:

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

REGISTERED NUMBER:

09853206 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Tangible assets

4

3,783

2,978

CURRENT ASSETS

Stocks

5

2,850

2,850

Debtors

6

1,717

1,667

Cash at bank and in hand

23,124

31,362

27,691

35,879

CREDITORS

Amounts falling due within one year

7

21,317

29,012

NET CURRENT ASSETS

6,374

6,867

TOTAL ASSETS LESS CURRENT LIABILITIES

10,157

9,845

PROVISIONS FOR LIABILITIES

719

576

NET ASSETS

9,438

9,269

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9,437

9,268

SHAREHOLDERS' FUNDS

9,438

9,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 21 July 2019 and were signed by:

Mr R L Tappenden - Director

1.	STATUTORY INFORMATION

Russ Motorcycle Tyres 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2017

4,231

316

315

4,862

Additions

1,806

260

-

2,066

At 30 November 2018

6,037

576

315

6,928

DEPRECIATION

At 1 December 2017

1,667

79

138

1,884

Charge for year

1,093

124

44

1,261

At 30 November 2018

2,760

203

182

3,145

NET BOOK VALUE

At 30 November 2018

3,277

373

133

3,783

At 30 November 2017

2,564

237

177

2,978

5.

STOCKS

30.11.18

30.11.17

£

£

Stocks

2,850

2,850

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Prepayments

1,717

1,667

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade creditors

6,288

5,888

Corporation tax

1,644

3,233

Social security and other taxes

299

-

VAT

1,526

1,882

Other creditors

27

-

Directors' current accounts

10,138

16,874

Accrued expenses

1,395

1,135

21,317

29,012

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.18

30.11.17

value:

£

£

1

Ordinary

£1

1

1

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

30 November 2018 and 30 November 2017:

30.11.18

30.11.17

£

£

Mr R L Tappenden

Balance outstanding at start of year

(16,874

)

(15,391

)

Amounts advanced

6,735

-

Amounts repaid

-

(1,483

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(10,139

)

(16,874

)

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R L Tappenden.