PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED - Company Information

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PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Company Registration Number:
05814683 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2021

Period of accounts

Start date: 01 June 2020

End date: 31 May 2021

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2021

Balance sheet
Notes

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Balance sheet

As at 31 May 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 98,226 107,713
Total fixed assets: 98,226 107,713
Current assets
Stocks: 73,783 39,420
Debtors:   17,476 73,334
Cash at bank and in hand: 317,929 274,448
Total current assets: 409,188 387,202
Creditors: amounts falling due within one year: 4 (84,391) (78,916)
Net current assets (liabilities): 324,797 308,286
Total assets less current liabilities: 423,023 415,999
Creditors: amounts falling due after more than one year: 5 (40,000) (50,000)
Total net assets (liabilities): 383,023 365,999
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 383,022 365,998
Shareholders funds: 383,023 365,999

The notes form part of these financial statements

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Balance sheet statements

For the year ending 31 May 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 February 2022
and signed on behalf of the board by:

Name: MR.T.RICHARDSON
Status: Director

The notes form part of these financial statements

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets and depreciation policy

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:Plant & machinery - 20% reducing balance Fixtures & fittings - 20% reducing balance Motor vehicles - 25% reducing balance Office and computer equipment - 25% reducing balance

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

2. Employees

2021 2020
Average number of employees during the period 8 9

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

3. Tangible Assets

Total
Cost £
At 01 June 2020 271,327
Additions 9,310
Disposals (5,500)
At 31 May 2021 275,137
Depreciation
At 01 June 2020 163,614
Charge for year 16,573
On disposals (3,276)
At 31 May 2021 176,911
Net book value
At 31 May 2021 98,226
At 31 May 2020 107,713

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

4. Creditors: amounts falling due within one year note

Bank Loan - £10000Trade Creditors - £27364Corporation Tax - £22990Other taxation and social security - £12692Accruals and deferred income - £11345

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

5. Creditors: amounts falling due after more than one year note

Bank Loan - £40000

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

6. Loans to directors

Name of director receiving advance or credit: Mr.T Richardson
Description of the loan: Property loan
£
Balance at 01 June 2020 71,405
Advances or credits repaid: 53,929
Balance at 31 May 2021 17,476