Abbreviated Company Accounts - N-TIRE SYSTEMS LIMITED

N-TIRE SYSTEMS LIMITED - Company Information

03367304 N-TIRE SYSTEMS LIMITED 2015-05-31 false 2014-06-01 2015-05-31 true 03367304 2014-06-01 2015-05-31 03367304 2015-05-31 03367304 2014-05-31 03367304 uk-gaap-cd-bus:Director1 2014-06-01 2015-05-31 03367304 uk-gaap-cd-bus:Director2 2014-06-01 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-01 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 iso4217:GBP shares

Registered Number 03367304

N-TIRE SYSTEMS LIMITED

Abbreviated Accounts

31 May 2015

N-TIRE SYSTEMS LIMITED Registered Number 03367304

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	3,459	4,612
		3,459	4,612
Current assets
Debtors		27,707	35,573
Cash at bank and in hand		3,845	3,858
		31,552	39,431
Creditors: amounts falling due within one year		(43,066)	(49,297)
Net current assets (liabilities)		(11,514)	(9,866)
Total assets less current liabilities		(8,055)	(5,254)
Total net assets (liabilities)		(8,055)	(5,254)
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		(8,057)	(5,256)
Shareholders' funds		(8,055)	(5,254)

For the year ending 31 May 2015 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 17 February 2016

And signed on their behalf by:
Shakeeb Nizzi, Director

N-TIRE SYSTEMS LIMITED Registered Number 03367304

Notes to the Abbreviated Accounts for the period ended 31 May 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company’s ordinary activities. The revenue is recognised for the services as the services are performed.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follow:
Plant and machinery – 25% per annum on reducing balance basis
Motor vehicles – 25% per annum on reducing balance basis

Other accounting policies
Going Concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern, which the directors consider appropriate having regard to the circumstances.

2Tangible fixed assets

	£
Cost
At 1 June 2014	52,625
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2015	52,625
Depreciation
At 1 June 2014	48,013
Charge for the year	1,153
On disposals	-
At 31 May 2015	49,166
Net book values
At 31 May 2015	3,459
At 31 May 2014	4,612

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2