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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2022-01-01 04870241 2022-12-31 04870241 2022-01-01 2022-12-31 04870241 2021-12-31 04870241 2021-01-01 2021-12-31 04870241 uk-core:WithinOneYear 2021-12-31 04870241 uk-core:WithinOneYear 2022-12-31 04870241 uk-core:AfterOneYear 2021-12-31 04870241 uk-core:AfterOneYear 2022-12-31 04870241 uk-core:ShareCapital 2022-12-31 04870241 uk-core:ShareCapital 2021-12-31 04870241 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 04870241 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 04870241 uk-bus:Director1 2022-01-01 2022-12-31 04870241 uk-bus:Director2 2022-01-01 2022-12-31 04870241 uk-core:NetGoodwill 2022-01-01 2022-12-31 04870241 uk-core:PlantMachinery 2022-01-01 2022-12-31 04870241 uk-core:ComputerEquipment 2022-01-01 2022-12-31 04870241 uk-core:CommercialMotorVehicles 2022-01-01 2022-12-31 04870241 uk-core:Goodwill 2021-12-31 04870241 uk-core:Goodwill 2022-12-31 04870241 uk-core:ComputerEquipment 2021-12-31 04870241 uk-core:CommercialMotorVehicles 2021-12-31 04870241 uk-core:PlantMachinery 2021-12-31 04870241 uk-core:PlantMachinery 2022-12-31 04870241 uk-core:CommercialMotorVehicles 2022-12-31 04870241 uk-core:ComputerEquipment 2022-12-31 04870241 2 uk-bus:Director1 2022-01-01 2022-12-31 04870241 2 uk-bus:Director1 2021-12-31 04870241 2 uk-bus:Director1 2022-12-31 04870241 3 uk-bus:Director2 2022-01-01 2022-12-31 04870241 3 uk-bus:Director2 2021-12-31 04870241 3 uk-bus:Director2 2022-12-31 iso4217:GBP xbrli:pure 04870241 uk-bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 04870241 uk-bus:FRS102 2022-01-01 2022-12-31 04870241 uk-bus:FullAccounts 2022-01-01 2022-12-31 04870241 uk-bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31
John Wood Tyres (Hereford) Limited
Registered Number:04870241
For the year ended 31 December 2022
England and Wales
Unaudited Financial Statements
2
Registered Number :
04870241
As at 31 December 2022
John Wood Tyres (Hereford) Limited
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
61,940
70,709
3
61,940
70,709
Current assets
Inventories
193,557
200,102
4
Trade and other receivables
112,638
143,550
5
148,261
Cash and cash equivalents
158,011
501,663
454,456
Trade and other payables: amounts falling due within one
year
(494,216)
(548,049)
6
(39,760)
(46,386)
Net current liabilities
Total assets less current liabilities
15,554
30,949
Trade and other payables: amounts falling due after more
than one year
(5,725)
-
7
(14,129)
(17,729)
Provisions for liabilities
1,425
Net assets
7,495
Capital and reserves
Called up share capital
10
4
Retained earnings
1,415
7,491
1,425
7,495
Shareholders' funds
For the year ended 31 December 2022 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 2022 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their 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 2022
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 23 March 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2022
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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5
For the year ended 31 December 2022
John Wood Tyres (Hereford) Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2022
28,000
At 31 December 2022
28,000
Amortisation
At 01 January 2022
28,000
At 31 December 2022
28,000
Net book value
At 31 December 2022
-
At 31 December 2021
-
3. Property, plant and equipment
Total
Computer
Equipment
Motor Vehicles
Plant and
Machinery
£
£
£
£
Cost or
valuation
At 01 January 2022
166,258
7,780
74,515
83,963
11,427
1,174
6,375
3,878
Additions
At 31 December 2022
87,841
80,890
8,954
177,685
Provision for depreciation and impairment
At 01 January 2022
95,549
6,792
36,254
52,503
Charge for year
20,196
326
13,246
6,624
At 31 December 2022
115,745
7,118
49,500
59,127
At 31 December 2022
Net book value
28,714
31,390
1,836
61,940
At 31 December 2021
31,460
38,261
988
70,709
4. Inventories
2021
2022
£
£
Stocks
200,102
193,557
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For the year ended 31 December 2022
John Wood Tyres (Hereford) Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2021
2022
£
£
Trade debtors
122,572
104,179
Other debtors
20,978
8,459
112,638
143,550
6. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Trade creditors
456,760
400,965
Taxation and social security
61,193
51,849
Other creditors
30,096
41,402
548,049
494,216
7. Trade and other payables: amounts falling due after more than one year
2021
2022
£
£
Other creditors
-
5,725
8. Directors advances and guarantees
Loaned
Repaid
Interest
At 01/01/2022
At 31/12/2022
£
£
£
£
£
GA Wood
Directors' Loan Account
993
(4,289)
(70,001)
64,784
(65)
993
(4,289)
(70,001)
64,784
(65)
LD Wood
Directors' Loan Account
5,321
(8,825)
(78,902)
64,784
(28)
5,321
(8,825)
(78,902)
64,784
(28)
9. Average number of persons employed
During the year the average number of employees was 17 (2021 : 16)
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