TIDESWELL_TYRE_COMPANY_LI - Accounts

TIDESWELL TYRE COMPANY LIMITED - Company Information

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Company Registration No. 4740786 (England and Wales)

TIDESWELL TYRE COMPANY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

TIDESWELL TYRE COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

TIDESWELL TYRE COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

11,763

12,191

Current assets

Stocks

22,002

24,997

Debtors

21,942

15,031

Cash at bank and in hand

5,698

1,633

49,642

41,661

Creditors: amounts falling due within one year

(26,118)

(23,228)

Net current assets

23,524

18,433

Total assets less current liabilities

35,287

30,624

Provisions for liabilities

(2,352)

(2,438)

32,935

28,186

Capital and reserves

Called up share capital

1,000

Profit and loss account

31,935

27,186

Shareholders' funds

32,935

28,186

For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 October 2016

Mr G J Willingham

Director

Company Registration No. 4740786

TIDESWELL TYRE COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Fixed assets

Tangible assets

Cost

At 1 February 2015

28,697

Additions

2,620

At 31 January 2016

31,317

Depreciation

At 1 February 2015

16,506

Charge for the year

3,048

At 31 January 2016

19,554

Net book value

At 31 January 2016

11,763

At 31 January 2015

12,191

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary of £1 each

1,000

TIDESWELL TYRE COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Ultimate parent company

The company was under the control of Mr & Mrs Willingham throughout the year. Mr & Mrs Willingham are the only directors and shareholders.