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 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2023

Balance sheet
Notes

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Balance sheet

As at 31 May 2023


Notes
2023
2022


£
£
Fixed assets
Tangible assets: 3 87,868 87,411
Total fixed assets: 87,868 87,411
Current assets
Stocks: 161,912 121,344
Debtors:   91,534 25,775
Cash at bank and in hand: 217,794 318,911
Total current assets: 471,240 466,030
Creditors: amounts falling due within one year: 4 (91,483) (96,038)
Net current assets (liabilities): 379,757 369,992
Total assets less current liabilities: 467,625 457,403
Creditors: amounts falling due after more than one year: 5 (19,239) (28,855)
Total net assets (liabilities): 448,386 428,548
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 448,385 428,547
Shareholders funds: 448,386 428,548

The notes form part of these financial statements

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Balance sheet statements

For the year ending 31 May 2023 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 2024
and signed on behalf of the board by:

Name: MR.T.A.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 2023

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 and machinery - 20% reducing balanceFixtures and fittings - 20% reducing balanceMotor 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 2023

2. Employees

2023 2022
Average number of employees during the period 9 8

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Tangible Assets

Total
Cost £
At 01 June 2022 278,191
Additions 14,377
At 31 May 2023 292,568
Depreciation
At 01 June 2022 190,780
Charge for year 13,920
At 31 May 2023 204,700
Net book value
At 31 May 2023 87,868
At 31 May 2022 87,411

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Creditors: amounts falling due within one year note

Bank loan - £10761Trade creditors - £32738Corporation tax - £24503Other taxation and social security - £10838Accruals and deferred income - £12643

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

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

Bank Loan - £19239

PAT LAVERY TYRE & EXHAUST CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

6. Loans to directors

Name of director receiving advance or credit: T Richardson
Description of the loan: Property loan
£
Balance at 01 June 2022 14,863
Advances or credits made: 72,588
Balance at 31 May 2023 87,451