TYRES@TERRYS LIMITED

TYRES@TERRYS LIMITED - Company Information

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Registered number: 08897882

Abbreviated accounts

For The Year Ended 28 February 2016

TAYLOR ACCOUNTING SERVICES

HIGHWOOD

9 RODNEY GARDENS

PINNER

MIDDLESEX

HA5 2RT

TYRES@TERRYS LIMITED

Company No. 08897882

Abbreviated Balance Sheet 28 February 2016

Abbreviated Balance Sheet

		28 February 2016		Period to 28 February 2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		15,466		5,225

			15,466		5,225
CURRENT ASSETS
Stocks		2,169		6,002
Debtors		1,599		3,320
Cash at bank and in hand		13,180		1,627

		16,948		10,949
Creditors: Amounts Falling Due Within One Year		(29,277 )		(28,072 )

NET CURRENT ASSETS (LIABILITIES)			(12,329 )		(17,123 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,137		(11,898 )

Creditors: Amounts Falling Due After More Than One Year	3		(12,750 )		-

NET ASSETS			(9,613 )		(11,898 )

CAPITAL AND RESERVES
Called up share capital	4		1		1
Profit and Loss Account			(9,614 )		(11,899 )

SHAREHOLDERS' FUNDS			(9,613 )		(11,898 )

TYRES@TERRYS LIMITED

Company No. 08897882

Abbreviated Balance Sheet (continued) 28 February 2016

For the year ending 28 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr TERENCE HAMMOND

19/12/2016

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TYRES@TERRYS LIMITED

Notes to the Abbreviated Accounts

For The Year Ended 28 February 2016

Notes to the Abbreviated Accounts

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	Straight Line
Motor Vehicles	Straight Line
Fixtures & Fittings	Straight Line

1.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Tangible Assets


	Total
Cost	£
As at 1 March 2015	6,847
Additions	15,937

As at 28 February 2016	22,784

Depreciation
As at 1 March 2015	1,622
Provided during the period	5,696

As at 28 February 2016	7,318

Net Book Value
As at 28 February 2016	15,466

As at 1 March 2015	5,225

3. Creditors: Amounts Falling Due After More Than One Year

	28 February 2016	Period to 28 February 2015
	£	£
Bank loans	12,750	-

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TYRES@TERRYS LIMITED

Notes to the Abbreviated Accounts (continued)

For The Year Ended 28 February 2016

4. Share Capital

	Value	Number	28 February 2016	Period to 28 February 2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	1	1	1

5. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

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