Abbreviated Company Accounts - PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Abbreviated Company Accounts - PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED - Company Information

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Registered Number 05814683

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Abbreviated Accounts

31 May 2014

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED Registered Number 05814683

Abbreviated Balance Sheet as at 31 May 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 68,672 32,638
68,672 32,638
Current assets
Stocks 50,439 57,155
Debtors 2,728 59,205
Cash at bank and in hand 95,987 84,224
149,154 200,584
Creditors: amounts falling due within one year (42,287) (57,151)
Net current assets (liabilities) 106,867 143,433
Total assets less current liabilities 175,539 176,071
Total net assets (liabilities) 175,539 176,071
Capital and reserves
Called up share capital 1 1
Profit and loss account 175,538 176,070
Shareholders' funds 175,539 176,071
  • For the year ending 31 May 2014 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 25 February 2015

And signed on their behalf by:
T A RICHARDSON, Director

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED Registered Number 05814683

Notes to the Abbreviated Accounts for the period ended 31 May 2014

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 net invoiced sales of goods, excluding VAT

Tangible assets depreciation policy
Tangible assets are depreciated by annual instalments over their estimated useful lives:
Plant and machinery - 20% reducing balance
Fixtures and fittings - 20% reducing balance
Office equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

2Tangible fixed assets
£
Cost
At 1 June 2013 93,918
Additions 47,923
Disposals -
Revaluations -
Transfers -
At 31 May 2014 141,841
Depreciation
At 1 June 2013 61,280
Charge for the year 11,889
On disposals -
At 31 May 2014 73,169
Net book values
At 31 May 2014 68,672
At 31 May 2013 32,638