John Wood Tyres (Hereford) Limited,Ltd - AccountsLtd - Accounts

John Wood Tyres (Hereford) Limited,Ltd - AccountsLtd - Accounts

JOHN WOOD TYRES (HEREFORD) LIMITED - Company Information

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2021-01-01 04870241 2021-12-31 04870241 2021-01-01 2021-12-31 04870241 2020-12-31 04870241 2020-01-01 2020-12-31 04870241 uk-core:WithinOneYear 2020-12-31 04870241 uk-core:WithinOneYear 2021-12-31 04870241 uk-core:AfterOneYear 2020-12-31 04870241 uk-core:AfterOneYear 2021-12-31 04870241 uk-core:ShareCapital 2021-12-31 04870241 uk-core:ShareCapital 2020-12-31 04870241 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 04870241 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 04870241 uk-bus:Director1 2021-01-01 2021-12-31 04870241 uk-bus:Director2 2021-01-01 2021-12-31 04870241 uk-core:NetGoodwill 2021-01-01 2021-12-31 04870241 uk-core:PlantMachinery 2021-01-01 2021-12-31 04870241 uk-core:ComputerEquipment 2021-01-01 2021-12-31 04870241 uk-core:CommercialMotorVehicles 2021-01-01 2021-12-31 04870241 uk-core:Goodwill 2020-12-31 04870241 uk-core:Goodwill 2021-12-31 04870241 uk-core:ComputerEquipment 2020-12-31 04870241 uk-core:CommercialMotorVehicles 2020-12-31 04870241 uk-core:PlantMachinery 2020-12-31 04870241 uk-core:PlantMachinery 2021-12-31 04870241 uk-core:CommercialMotorVehicles 2021-12-31 04870241 uk-core:ComputerEquipment 2021-12-31 04870241 uk-core:AfterOneYear uk-core:Secured 2021-12-31 04870241 uk-core:AfterOneYear uk-core:Secured 2020-12-31 iso4217:GBP xbrli:pure 04870241 uk-bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 04870241 uk-bus:FRS102 2021-01-01 2021-12-31 04870241 uk-bus:FullAccounts 2021-01-01 2021-12-31 04870241 uk-bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31
John Wood Tyres (Hereford) Limited
Registered Number:04870241
For the year ended 31 December 2021
England and Wales
Unaudited Financial Statements
2
Registered Number :
04870241
As at 31 December 2021
John Wood Tyres (Hereford) Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
70,709
53,961
3
70,709
53,961
Current assets
Inventories
180,644
193,557
4
Trade and other receivables
100,729
112,638
5
235,464
Cash and cash equivalents
148,261
454,456
516,837
Trade and other payables: amounts falling due within one
year
(488,211)
(494,216)
6
28,626
(39,760)
Net current liabilities
Total assets less current liabilities
30,949
82,587
Trade and other payables: amounts falling due after more
than one year
(65,725)
(5,725)
7
(17,729)
(10,253)
Provisions for liabilities
7,495
Net assets
6,609
Capital and reserves
Called up share capital
4
4
Retained earnings
7,491
6,605
7,495
6,609
Shareholders' funds
For the year ended 31 December 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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Registered Number :
04870241
For the year ended 31 December 2021
John Wood Tyres (Hereford) Limited
Statement of Financial Position Continued
GA Wood Director
LD Wood Director
These financial statements were approved and authorised for issue by the Board on 16 February 2022 and were signed by:
The notes form part of these financial statements
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For the year ended 31 December 2021
John Wood Tyres (Hereford) Limited
Notes to the Financial Statements
Statutory Information
John Wood Tyres (Hereford) Limited is a private limited company, limited by shares, domiciled in England and
Wales, registration number 04870241.
Principal place of business:
101 -107 St Owens Street
Hereford
HR1 2JW
Registered address:
Suite 22, Stirling House
Centenary Pk, Skylon Central
Hereford
HR2 6FJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, has been amortised evenly over its estimated useful life.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
10% Straight line
10% Straight line
Computer Equipment
20% Straight line
Motor Vehicles
Inventories
Inventories are value 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 statement of financial position date.
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For the year ended 31 December 2021
John Wood Tyres (Hereford) Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2021
28,000
At 31 December 2021
28,000
Amortisation
At 01 January 2021
28,000
At 31 December 2021
28,000
Net book value
At 31 December 2021
-
At 31 December 2020
-
3. Property, plant and equipment
Total
Computer
Equipment
Motor Vehicles
Plant and
Machinery
£
£
£
£
Cost or
valuation
At 01 January 2021
132,003
7,780
50,015
74,208
34,255
-
24,500
9,755
Additions
At 31 December 2021
83,963
74,515
7,780
166,258
Provision for depreciation and impairment
At 01 January 2021
78,042
6,586
24,901
46,555
Charge for year
17,507
206
11,353
5,948
At 31 December 2021
95,549
6,792
36,254
52,503
At 31 December 2021
Net book value
31,460
38,261
988
70,709
At 31 December 2020
27,653
25,114
1,194
53,961
4. Inventories
2020
2021
£
£
Stocks
193,557
180,644
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For the year ended 31 December 2021
John Wood Tyres (Hereford) Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2020
2021
£
£
Trade debtors
104,179
92,523
Other debtors
8,459
8,206
100,729
112,638
6. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Trade creditors
400,965
381,799
Taxation and social security
51,849
83,580
Other creditors
41,402
22,832
494,216
488,211
7. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Bank loans and overdraft
-
50,000
Other creditors
5,725
15,725
5,725
65,725
8. Related party transactions
The company was under the control of Mr and Mrs VJ Wood, GA Wood and LD Wood throughout the current
and previous year.
John Wood Tyres (Hereford) Limited has a 75% controlling interest in JWT Performance Limited, a company
in which GA Wood and LD Wood are also shareholders.
During the year the amount outstanding and owed to JWT Performance Limited from John Wood Tyres
(Hereford) Limited was £5,725 (2020: £15,725). This is shown under as other creditors within Creditors:
amounts falling due after more than one year.
9. Average number of persons employed
During the year the average number of employees was 16 (2020 : 15)
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