Russ Motorcycle Tyres Ltd - Accounts to registrar (filleted) - small 18.1
Russ Motorcycle Tyres Ltd - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2017 |
| for |
| Russ Motorcycle Tyres Ltd |
| Russ Motorcycle Tyres Ltd (Registered number: 09853206) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Russ Motorcycle Tyres Ltd |
| Company Information |
| for the Year Ended 30 November 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Castle Farm Barn North |
| Denmead Road |
| Southwick |
| Hampshire |
| PO17 6EX |
| Russ Motorcycle Tyres Ltd (Registered number: 09853206) |
| Balance Sheet |
| 30 November 2017 |
| 30.11.17 | 30.11.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Russ Motorcycle Tyres Ltd (Registered number: 09853206) |
| Balance Sheet - continued |
| 30 November 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director on |
| Russ Motorcycle Tyres Ltd (Registered number: 09853206) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2017 |
| 1. | STATUTORY INFORMATION |
| Russ Motorcycle Tyres Ltd is a |
| 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 |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| This is the first year the company has presented its financial statements under Financial |
| Reporting Standard 102 Section 1a (FRS102 (1a)) issued by the Financial Reporting |
| Council. The last financial statements for the year ended 30 November 2016, were prepared |
| under the previous UK GAAP. The transition date to FRS102 (1a) is therefore 1 December |
| 2016. |
| There were no material adjustments required on transition to FRS102 (1a) and as such it |
| has not been necessary to restate prior year comparatives following implementation of |
| FRS102 (1a). |
| 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 |
| Plant and machinery | - |
| Computer equipment | - |
| 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. |
| Russ Motorcycle Tyres Ltd (Registered number: 09853206) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 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 |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over |
| the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 December 2016 |
| Additions |
| At 30 November 2017 |
| DEPRECIATION |
| At 1 December 2016 |
| Charge for year |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| 5. | STOCKS |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Stocks |
| Russ Motorcycle Tyres Ltd (Registered number: 09853206) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.17 | 30.11.16 |
| £ | £ |
| VAT |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| VAT | 1,882 | - |
| Directors' current accounts | 16,874 | 15,391 |
| Accrued expenses |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.17 | 30.11.16 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the year ended |
| 30 November 2017 and the period ended 30 November 2016: |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Included in creditors is an amount due to the director of £16,874 (2017 - £15,391). This loan |
| is interest free, undated, unsecured and repayable on demand. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Russell Lee Tappenden. |