Abbreviated Company Accounts - TYRE CARE LIMITED

Registered Number 02965192

TYRE CARE LIMITED

Abbreviated Accounts

30 April 2015

TYRE CARE LIMITED Registered Number 02965192

Abbreviated Balance Sheet as at 30 April 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	42,494	30,332
		42,494	30,332
Current assets
Stocks		78,724	74,141
Debtors		155,297	166,544
Cash at bank and in hand		200,700	189,486
		434,721	430,171
Creditors: amounts falling due within one year		(326,700)	(330,761)
Net current assets (liabilities)		108,021	99,410
Total assets less current liabilities		150,515	129,742
Provisions for liabilities		(6,165)	(3,141)
Total net assets (liabilities)		144,350	126,601
Capital and reserves
Called up share capital		100	100
Profit and loss account		144,250	126,501
Shareholders' funds		144,350	126,601

For the year ending 30 April 2015 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.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 January 2016

And signed on their behalf by:
R J ELLIS, Director

TYRE CARE LIMITED Registered Number 02965192

Notes to the Abbreviated Accounts for the period ended 30 April 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Tenant improvements - 10% straight line
Fixtures, tools and equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Other accounting policies
Stocks:
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Operating leases:
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

Pensions:
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Deferred taxation:
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

2Tangible fixed assets

	£
Cost
At 1 May 2014	190,289
Additions	24,723
Disposals	(3,000)
Revaluations	-
Transfers	-
At 30 April 2015	212,012
Depreciation
At 1 May 2014	159,957
Charge for the year	11,612
On disposals	(2,051)
At 30 April 2015	169,518
Net book values
At 30 April 2015	42,494
At 30 April 2014	30,332