Sam'S Tyres & Mot Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08593672 (England and Wales)

SAM'S TYRES & MOT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr M Harissa

REGISTERED OFFICE:

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

REGISTERED NUMBER:

08593672 (England and Wales)

ACCOUNTANTS:

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sam'S Tyres & Mot Limited for the year ended 30 June 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Sam'S Tyres & Mot Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sam'S Tyres & Mot Limited and state those matters that we have agreed to state to the director of Sam'S Tyres & Mot Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Sam'S Tyres & Mot Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sam'S Tyres & Mot Limited. You consider that Sam'S Tyres & Mot Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sam'S Tyres & Mot Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

Date: .............................................

FIXED ASSETS

Property, plant and equipment

4

3,405

4,256

CURRENT ASSETS

Inventories

5

11,640

11,450

Debtors

6

57,722

49,576

Cash at bank and in hand

14,246

26,060

83,608

87,086

CREDITORS

Amounts falling due within one year

7

26,748

22,341

NET CURRENT ASSETS

56,860

64,745

TOTAL ASSETS LESS CURRENT LIABILITIES

60,265

69,001

CREDITORS

Amounts falling due after more than one year

8

(31,333

)

(40,000

)

PROVISIONS FOR LIABILITIES

10

(647

)

(809

)

NET ASSETS

28,285

28,192

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

27,285

27,192

SHAREHOLDERS' FUNDS

28,285

28,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 13 January 2022 and were signed by:

Mr M Harissa - Director

1.	STATUTORY INFORMATION

Sam'S Tyres & Mot Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents gross invoiced sales of services. Turnover is recognised at the earlier of invoice being raised or service being supplied.

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 reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss in the period to which they relate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 July 2020

and 30 June 2021

19,194

DEPRECIATION

At 1 July 2020

14,938

Charge for year

851

At 30 June 2021

15,789

NET BOOK VALUE

At 30 June 2021

3,405

At 30 June 2020

4,256

5.	INVENTORIES

30.6.21

30.6.20

£

£

Stocks

11,640

11,450

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other debtors

2,500

2,571

Related company

40,000

40,000

Prepayments

15,222

7,005

57,722

49,576

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts (see note 9)

8,000

-

Trade creditors

4,194

3,215

Tax

10,284

15,256

Social security and other taxes

316

-

Pension control account

162

-

Directors' current accounts

552

750

Accrued expenses

3,240

3,120

26,748

22,341

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans (see note 9)

31,333

40,000

9.

LOANS

An analysis of the maturity of loans is given below:

30.6.21

30.6.20

£

£

Amounts falling due within one year or on demand:

Bank loans

8,000

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

8,000

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

23,333

40,000

10.	PROVISIONS FOR LIABILITIES

30.6.21

30.6.20

£

£

Deferred tax

647

809

Deferred

tax

£

Balance at 1 July 2020

809

Provided during year

(162

)

Balance at 30 June 2021

647

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.	CONTROLLING PARTY

The controlling party is Mr M Harissa.