Addison Tyres Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05213285 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

ADDISON TYRES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J R Addison

SECRETARY:

Mrs J Addison

REGISTERED OFFICE:

52a High Street

Princes End

Tipton

West Midlands

DY4 9HP

REGISTERED NUMBER:

05213285 (England and Wales)

ACCOUNTANTS:

Wynniatt-Husey Ltd

Chartered Accountants

The Old Coach House

Horsefair

Rugeley

Staffordshire

WS15 2EL

FIXED ASSETS

20,265

Tangible assets

2

26,228

CURRENT ASSETS

45,596

Stocks

44,217

12,970

Debtors

13,230

129,036

Cash at bank and in hand

102,442

187,602

159,889

CREDITORS

185,378

Amounts falling due within one year

141,340

2,224

NET CURRENT ASSETS

18,549

22,489

TOTAL ASSETS LESS CURRENT LIABILITIES

44,777

3,530

PROVISIONS FOR LIABILITIES

4,817

18,959

NET ASSETS

39,960

CAPITAL AND RESERVES

2

Called up share capital

3

2

18,957

Profit and loss account

39,958

18,959

SHAREHOLDERS' FUNDS

39,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 2 June 2015 and were signed by:

J R Addison - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are valued 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 balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

67,469

Additions

14,641

At 31 October 2014

82,110

DEPRECIATION

At 1 November 2013

47,204

Charge for year

8,678

At 31 October 2014

55,882

NET BOOK VALUE

At 31 October 2014

26,228

At 31 October 2013

20,265

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

2

Ordinary

£1

2

2