Abbreviated Company Accounts - ELLAND TYRE & EXHAUST SERVICES LTD

Abbreviated Company Accounts - ELLAND TYRE & EXHAUST SERVICES LTD

ELLAND TYRE & EXHAUST SERVICES LTD - Company Information

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Registered Number 09172459

ELLAND TYRE & EXHAUST SERVICES LTD

Abbreviated Accounts

31 August 2016

ELLAND TYRE & EXHAUST SERVICES LTD Registered Number 09172459

Abbreviated Balance Sheet as at 31 August 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 78,000 104,000
Tangible assets 3 167,035 54,689
245,035 158,689
Current assets
Stocks 1,415 990
Debtors 14,088 17,246
Cash at bank and in hand 49,489 145,326
64,992 163,562
Creditors: amounts falling due within one year (401,596) (359,307)
Net current assets (liabilities) (336,604) (195,745)
Total assets less current liabilities (91,569) (37,056)
Provisions for liabilities (4,289) (647)
Total net assets (liabilities) (95,858) (37,703)
Capital and reserves
Called up share capital 4 100 100
Profit and loss account (95,958) (37,803)
Shareholders' funds (95,858) (37,703)
  • For the year ending 31 August 2016 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 8 November 2016

And signed on their behalf by:
S Haywood, Director

ELLAND TYRE & EXHAUST SERVICES LTD Registered Number 09172459

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. Turnover is recognised in the period to which the invoiced supply relates.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold properties - Straight line over the life of the lease
Plant and machinery - 15% reducing balance
Fixtures, fittings and equipment - 33% straight line
Motor vehicles - 25% reducing balance

Intangible assets amortisation policy
Goodwill
Acquired goodwill is written off in equal instalments over its estimated useful economic life of 5 years.

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

2Intangible fixed assets
£
Cost
At 1 September 2015 130,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 August 2016 130,000
Amortisation
At 1 September 2015 26,000
Charge for the year 26,000
On disposals -
At 31 August 2016 52,000
Net book values
At 31 August 2016 78,000
At 31 August 2015 104,000
3Tangible fixed assets
£
Cost
At 1 September 2015 65,494
Additions 177,262
Disposals (23,333)
Revaluations -
Transfers -
At 31 August 2016 219,423
Depreciation
At 1 September 2015 10,805
Charge for the year 41,583
On disposals -
At 31 August 2016 52,388
Net book values
At 31 August 2016 167,035
At 31 August 2015 54,689
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
100 Ordinary shares of £1 each 100 100