PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED - Company Information

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PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Company Registration Number:
05814683 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2019

Period of accounts

Start date: 01 June 2018

End date: 31 May 2019

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2019

Balance sheet
Notes

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Balance sheet

As at 31 May 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 97,171 76,831
Total fixed assets: 97,171 76,831
Current assets
Stocks: 45,680 48,712
Debtors:   71,409
Cash at bank and in hand: 221,650 220,130
Total current assets: 338,739 268,842
Creditors: amounts falling due within one year: 4 (91,016) (61,077)
Net current assets (liabilities): 247,723 207,765
Total assets less current liabilities: 344,894 284,596
Total net assets (liabilities): 344,894 284,596
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 344,893 284,595
Shareholders funds: 344,894 284,596

The notes form part of these financial statements

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Balance sheet statements

For the year ending 31 May 2019 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 February 2020
and signed on behalf of the board by:

Name: MR.T.A.RICHARDSON
Status: Director

The notes form part of these financial statements

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax.

Tangible fixed assets and depreciation policy

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:Plant & machinery - 20% reducing balance Fixtures & fittings - 20% reducing balanceOffice equipment - 25% reducing balance Motor vehicles - 25% reducing balance

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

2. Employees

2019 2018
Average number of employees during the period 9 7

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

3. Tangible Assets

Total
Cost £
At 01 June 2018 204,840
Additions 36,888
At 31 May 2019 241,728
Depreciation
At 01 June 2018 128,009
Charge for year 16,548
At 31 May 2019 144,557
Net book value
At 31 May 2019 97,171
At 31 May 2018 76,831

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

4. Creditors: amounts falling due within one year note

Trade creditors - £53053Corporation tax - £18583Other taxation and social security - £10174Accruals and deferred income - £9206

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

5. Loans to directors

Name of director receiving advance or credit: MR.T.A.RICHARDSON
Description of the loan: Purchase of property
£
Balance at 01 June 2018 0
Advances or credits made: 71,409
Balance at 31 May 2019 71,409