Car Tyre World Limited,Ltd - Accounts

CAR TYRE WORLD LIMITED - Company Information

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Car Tyre World Limited

For the period 19 May 2015 to 31 May 2016

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 09599662

Car Tyre World Limited

Accountants' Report

For the period 19 May 2015 to 31 May 2016

In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the

accounts of Car Tyre World Limited for the period ended 31 May 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other

professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Car Tyre World Limited, as a body, in accordance with the

terms of our engagement letter dated 19 May 2015. Our work has been undertaken solely to prepare for your

approval the accounts of Car Tyre World Limited and state those matters that we have agreed to state to the Board

of Directors of Car Tyre World Limited, as a body, in this report in accordance with the requirements of the

Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the

fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Car Tyre World

Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Car Tyre World Limited has kept adequate accounting records and to prepare statutory

accounts that give a true and fair view of the assets, liabilities, financial position and loss of Car Tyre World Limited.

You consider that Car Tyre World Limited is exempt from the statutory audit requirement for the year.

Peter A Hodgson & Co Limited

Chartered Certified Accountants

Hett Mill Cottage

Hett

Durham

DH6 5LN

09 February 2017

Dated:

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Abbreviated Balance Sheet

Car Tyre World Limited

As at 31 May 2016

09599662

Registered Number :

2016

Notes

Current assets

Cash at bank and in hand

667

Creditors: amounts falling due within one year

(919)

(252)

Net current liabilities

Total assets less current liabilities

(252)

Net assets/liabilities

Capital and reserves

Called up share capital

Profit and loss account

(253)

(252)

Shareholders funds

For the period ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476;

2) The director acknowledges his 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.

Date approved by the board: 09 February 2017

Mr Stephen Brain Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

Car Tyre World Limited

For the period 19 May 2015 to 31 May 2016

1 Accounting Policies

Going Concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Turnover

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

Deferred taxation

Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2 Share capital

Allotted called up and fully paid

2016

1 Ordinary share of £1.00 each

1 Ordinary £1.00 share has been issued during the period at par for a cash consideration of £1.

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