A & B Tyres (East Anglia) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07806261 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 November 2013

for

A & B Tyres (East Anglia) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTOR:

B A Inglis

SECRETARY:

L J Inglis

REGISTERED OFFICE:

30 Bridge Street

Thetford

Norfolk

IP24 3AG

BUSINESS ADDRESS:

Unit 9A

Roudham Park Industrial Estate

East Harling

Norwich

Norfolk

NR16 2QN

REGISTERED NUMBER:

07806261 (England and Wales)

ACCOUNTANTS:

Stacey & Partners

Chartered Accountants

The Beeches

30 Bridge Street

Thetford

Norfolk

IP24 3AG

FIXED ASSETS

Intangible assets

2

24,060

32,080

Tangible assets

3

47,409

34,303

71,469

66,383

CURRENT ASSETS

Stocks

103,197

82,495

Debtors

260,610

240,033

Cash at bank and in hand

25,563

10,486

389,370

333,014

CREDITORS

Amounts falling due within one year

4

424,274

381,514

NET CURRENT LIABILITIES

(34,904

)

(48,500

)

TOTAL ASSETS LESS CURRENT LIABILITIES

36,565

17,883

CREDITORS

Amounts falling due after more than one year

4

(14,348

)

(6,940

)

PROVISIONS FOR LIABILITIES

(7,480

)

(4,159

)

NET ASSETS

14,737

6,784

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

14,637

6,684

SHAREHOLDERS' FUNDS

14,737

6,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2013 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 4 August 2014 and were signed by:

B A Inglis - 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 sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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

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.

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will

continue as a going concern for the foreseeable future. The validity of this assumption depends on the director

continuing to provide adequate financial support and by not seeking repayment of the amounts owed to him.

The director has indicated that he will provide such support and accordingly he believes it appropriate to

prepare the financial statements on the going concern basis.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2012

and 30 November 2013

40,100

AMORTISATION

At 1 December 2012

8,020

Amortisation for year

8,020

At 30 November 2013

16,040

NET BOOK VALUE

At 30 November 2013

24,060

At 30 November 2012

32,080

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2012

45,514

Additions

25,977

Disposals

(2,830

)

At 30 November 2013

68,661

DEPRECIATION

At 1 December 2012

11,211

Charge for year

10,749

Eliminated on disposal

(708

)

At 30 November 2013

21,252

NET BOOK VALUE

At 30 November 2013

47,409

At 30 November 2012

34,303

4.

CREDITORS

Creditors include an amount of £ 23,274 (2012 - £ 10,072 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

100

Ordinary

£1

100

100