Ski Tyres (Hereford) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02617026 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30th November 2014

for

SKI TYRES (HEREFORD) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

E C Kusznierski

Mrs M L Kusznierski

SECRETARY:

Mrs M L Kusznierski

REGISTERED OFFICE:

Unit 4405

Oakfield Close

Tewkesbury Business Park

Tewkesbury

Gloucestershire

GL20 8PF

REGISTERED NUMBER:

02617026 (England and Wales)

ACCOUNTANTS:

Davies Mayers Barnett LLP

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

FIXED ASSETS

Tangible assets

2

33,593

33,246

CURRENT ASSETS

Stocks

59,839

60,913

Debtors

105,002

116,668

Cash in hand

50

50

164,891

177,631

CREDITORS

Amounts falling due within one year

3

(292,449

)

(341,596

)

NET CURRENT LIABILITIES

(127,558

)

(163,965

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(93,965

)

(130,719

)

CREDITORS

Amounts falling due after more than one year

3

(12,756

)

-

NET LIABILITIES

(106,721

)

(130,719

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(106,821

)

(130,819

)

SHAREHOLDERS' FUNDS

(106,721

)

(130,719

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 24th March 2015 and were signed on its behalf by:

E C Kusznierski - Director

Mrs M L Kusznierski - 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), and on a going concern basis. The

validity of the going concern basis is dependent on the continued support of the parent company and the

directors.

If the company were unable to continue to trade, adjustments would have to be made to reduce the value of the

assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify long

term liabilities as current liabilities.

Turnover

Turnover represents the value of goods and services supplied to customers during the year, net of Value Added

Tax and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Cost is defined as purchase cost less any residual value.

Depreciation is charged from the month of acquisition at the above rates.

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 taxation is recognised in respect of all significant timing differences between the treatment of certain

items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date. Full

provision is made without discounting for all significant deferred tax liabilities. Significant deferred tax assets

are recognised to the extent that it is more likely than not that they will be recovered against taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st December 2013

94,365

Additions

7,907

At 30th November 2014

102,272

DEPRECIATION

At 1st December 2013

61,119

Charge for year

7,560

At 30th November 2014

68,679

NET BOOK VALUE

At 30th November 2014

33,593

At 30th November 2013

33,246

3.

CREDITORS

Creditors include an amount of £ 41,137 (2013 - £ 58,409 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE PARENT COMPANY