Treadmark Tyres Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 06676117 (England and Wales)

Unaudited Financial Statements

for the Period 1 February 2016 to 16 October 2016

for

Treadmark Tyres Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J R Cowles

D S Wilkes

REGISTERED OFFICE:

C/0 Micheldever Tyre Services Ltd.

Micheldever Tyre Services Ltd

Micheldever Station

Winchester

Hampshire

S021 3AP

REGISTERED NUMBER:

06676117 (England and Wales)

ACCOUNTANTS:

Lawrence Grant

Chartered Accountants

and Reporting Accountants

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

FIXED ASSETS

Property, plant and equipment

4

-

27,876

Investments

5

-

100

-

27,976

CURRENT ASSETS

Inventories

19,759

54,249

Debtors

6

119,870

138,162

Cash at bank and in hand

37,125

29,403

176,754

221,814

CREDITORS

Amounts falling due within one year

7

133,483

146,359

NET CURRENT ASSETS

43,271

75,455

TOTAL ASSETS LESS CURRENT LIABILITIES

43,271

103,431

CREDITORS

Amounts falling due after more than one year

8

-

(25,269

)

PROVISIONS FOR LIABILITIES

-

(1,785

)

NET ASSETS

43,271

76,377

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

43,171

76,277

SHAREHOLDERS' FUNDS

43,271

76,377

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 16 October 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 16 October 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 10 April 2017 and were signed on its behalf by:

J R Cowles - Director

1.	STATUTORY INFORMATION

Treadmark Tyres Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under FRS 102 1A.

Preparation of consolidated financial statements

The financial statements contain information about Treadmark Tyres Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable from sale 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.

Improvements to property

-

straight line over 10 years

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

at variable rates on reducing balance

Motor vehicles

-

20% reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement

as either financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual

interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 (2016 - 10 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 February 2016

26,996

15,295

15,791

2,750

60,832

Impairments

(9,111

)

(8,348

)

(6,121

)

(634

)

(24,214

)

At 16 October 2016

17,885

6,947

9,670

2,116

36,618

DEPRECIATION

At 1 February 2016

15,977

5,957

9,010

2,012

32,956

Charge for period

1,908

990

660

104

3,662

At 16 October 2016

17,885

6,947

9,670

2,116

36,618

NET BOOK VALUE

At 16 October 2016

-

-

-

-

-

At 31 January 2016

11,019

9,338

6,781

738

27,876

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2016

100

Disposals

(100

)

At 16 October 2016

-

NET BOOK VALUE

At 16 October 2016

-

At 31 January 2016

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade debtors

52,147

52,571

Amounts owed by group undertakings

56,500

83,106

Other debtors

11,223

2,485

119,870

138,162

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade creditors

100,961

104,137

Taxation and social security

24,571

38,722

Other creditors

7,951

3,500

133,483

146,359

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2016

£

£

Other creditors

-

25,269

9.	ULTIMATE CONTROLLING PARTY

On 17 October 2016 100% share capital of the company was acquired by Micheldever Tyre Services Limited.

Prior to this date the ultimate controlling party was deemed by the directors to be T Read and DS Turner by

virtue of their shareholding.

The company's immediate parent undertaking is Micheldever Tyre Services Limited and its ultimate parent

company is Micheldever Group Limited. Copies of the parent company's consolidated accounts can be obtained

from Micheldever Station, Hampshire SO21 3AP.

The ultimate controlling party of Micheldever Group Limited is Sumitomo Rubber Industries Ltd, a company

registered in Japan, by virtue of its shareholding in the company.