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JOHN WOOD TYRES (HEREFORD) LIMITED - Company Information

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John Wood Tyres (Hereford) Limited

Registered Number:04870241

For the year ended 31 December 2018

England and Wales

Unaudited Financial Statements

As at 31 December 2018

John Wood Tyres (Hereford) Limited

Statement of Financial Position

Registered Number :

04870241

2017

2018

Notes

Fixed assets

Property, plant and equipment

65,462

61,112

65,462

61,112

Current assets

Inventories

181,068

202,781

Trade and other receivables

100,986

111,144

82,125

Cash and cash equivalents

117,125

431,050

364,179

Trade and other payables: amounts falling due within one

year

(373,251)

(429,654)

(9,072)

1,396

Net current assets

Total assets less current liabilities

66,858

52,040

Trade and other payables: amounts falling due after more

than one year

(14,025)

(17,525)

(12,437)

(11,610)

Provisions for liabilities

36,896

Net assets

26,405

Capital and reserves

Called up share capital

Retained earnings

36,892

26,401

36,896

26,405

Shareholders' funds

For the year ended 31 December 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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For the year ended 31 December 2018

John Wood Tyres (Hereford) Limited

Statement of Financial Position Continued

GA Wood Director

LD Wood Director

These financial statements were approved and authorised for issue by the Board on 27 September 2019 and were signed by:

The notes form part of these financial statements

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For the year ended 31 December 2018

John Wood Tyres (Hereford) Limited

Notes to the Financial Statements

Statutory Information

John Wood Tyres (Hereford) Limited is a private limited company, limited by shares, domiciled in England and

Wales, registration number 04870241.

Principal place of business:

101 -107 St Owens Street

Hereford

HR1 2JW

Registered address:

11 Rural Enterprise Centre

Vincent Carey Road

Hereford

HR2 6FE

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and

the Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, has been amortised evenly over its estimated useful life.

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

10% Straight line

Computer Equipment

20% Straight line

Motor Vehicles

Inventories

Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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For the year ended 31 December 2018

John Wood Tyres (Hereford) Limited

Notes to the Financial Statements Continued

2. Intangible fixed assets

Goodwill

Cost or valuation

At 01 January 2018

28,000

At 31 December 2018

28,000

Amortisation

At 01 January 2018

28,000

At 31 December 2018

28,000

Net book value

At 31 December 2018

At 31 December 2017

3. Property, plant and equipment

Total

Computer

Equipment

Motor Vehicles

Plant and

Machinery

Cost or

valuation

At 01 January 2018

104,483

7,780

22,495

74,208

16,165

Additions

(3,995)

Disposals

(3,995)

At 31 December 2018

74,208

34,665

7,780

116,653

Provision for depreciation and impairment

At 01 January 2018

43,371

5,560

10,244

27,567

Charge for year

11,814

410

4,774

6,630

(3,994)

On disposal

At 31 December 2018

51,191

5,970

11,024

34,197

At 31 December 2018

Net book value

40,011

23,641

1,810

65,462

At 31 December 2017

46,641

12,251

2,220

61,112

4. Inventories

2017

2018

Stocks

202,781

181,068

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For the year ended 31 December 2018

John Wood Tyres (Hereford) Limited

Notes to the Financial Statements Continued

5. Trade and other receivables

2017

2018

Trade debtors

102,884

92,804

Other debtors

8,260

8,182

100,986

111,144

6. Trade and other payables: amounts falling due within one year

2017

2018

Trade creditors

340,212

310,131

Taxation and social security

65,993

35,713

Other creditors

23,449

27,407

429,654

373,251

7. Trade and other payables: amounts falling due after more than one year

2017

2018

Other creditors

17,525

14,025

8. Related party transactions

The company was under the control of Mr and Mrs VJ Wood, GA Wood and LD Wood throughout the current

and previous year.

John Wood Tyres (Hereford) Limited has a 75% controlling interest in JWT Performance Limited, a company

in which GA Wood and LD Wood are also shareholders.

During the year the amount outstanding and owed to JWT Performance Limited from John Wood Tyres

(Hereford) Limited was £17,525 (2017: £14,025). This is shown under as other creditors within Creditors:

amounts falling due more than one year.

9. Average number of persons employed

During the year the average number of employees was 14 (2017 : 14)

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