Addison Tyres Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05213285 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

FOR

ADDISON TYRES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J R Addison

SECRETARY:

Mrs J Addison

REGISTERED OFFICE:

52a High Street

Princes End

Tipton

West Midlands

DY4 9HP

REGISTERED NUMBER:

05213285 (England and Wales)

ACCOUNTANTS:

Wynniatt-Husey Ltd

Chartered Accountants

The Old Coach House

Horsefair

Rugeley

Staffordshire

WS15 2EL

FIXED ASSETS

26,228

Tangible assets

2

30,390

CURRENT ASSETS

44,217

Stocks

45,164

13,230

Debtors

13,494

102,442

Cash at bank and in hand

75,627

159,889

134,285

CREDITORS

141,340

Amounts falling due within one year

123,559

18,549

NET CURRENT ASSETS

10,726

44,777

TOTAL ASSETS LESS CURRENT
LIABILITIES

41,116

4,817

PROVISIONS FOR LIABILITIES

5,726

39,960

NET ASSETS

35,390

CAPITAL AND RESERVES

2

Called up share capital

3

2

39,958

Profit and loss account

35,388

39,960

SHAREHOLDERS' FUNDS

35,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps 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 Sections
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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 18 July 2016 and were signed by:

J R Addison - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are valued 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 balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

82,110

Additions

13,508

At 31 October 2015

95,618

DEPRECIATION

At 1 November 2014

55,882

Charge for year

9,346

At 31 October 2015

65,228

NET BOOK VALUE

At 31 October 2015

30,390

At 31 October 2014

26,228

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

2

Ordinary

£1

2