TIDESWELL_TYRE_COMPANY_LI - Accounts

TIDESWELL TYRE COMPANY LIMITED - Company Information

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Company Registration No. 4740786 (England and Wales)

TIDESWELL TYRE COMPANY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2014

TIDESWELL TYRE COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

TIDESWELL TYRE COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

7,969

9,932

Current assets

Stocks

28,370

32,241

Debtors

14,104

10,795

Cash at bank and in hand

1,698

4,378

44,172

47,414

Creditors: amounts falling due within one year

(31,357)

(36,343)

Net current assets

12,815

11,071

Total assets less current liabilities

20,784

21,003

Provisions for liabilities

(1,414)

(1,767)

19,370

19,236

Capital and reserves

Called up share capital

1,000

Profit and loss account

18,370

18,236

Shareholders' funds

19,370

19,236

For the financial year ended 31 January 2014 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 of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 October 2014

Mr G J Willingham

Director

Company Registration No. 4740786

TIDESWELL TYRE COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Fixed assets

Tangible assets

Cost

At 1 February 2013

21,682

Additions

520

At 31 January 2014

22,202

Depreciation

At 1 February 2013

11,750

Charge for the year

2,483

At 31 January 2014

14,233

Net book value

At 31 January 2014

7,969

At 31 January 2013

9,932

Share capital

2014

2013

Allotted, called up and fully paid

1,000 Ordinary of £1 each

1,000

TIDESWELL TYRE COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2014

- 3 -

Ultimate parent company

The company was under the control of Mr & Mrs Willingham throughout the year. Mr & Mrs Willingham are the only directors and shareholders.