Part Used Tyres.net Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 06986398

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Part Used Tyres.net Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

T W Clarke

Miss A L Plaster

REGISTERED OFFICE:

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

REGISTERED NUMBER:

06986398

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Tangible assets

5

8,754

10,299

CURRENT ASSETS

Debtors

6

33,943

27,689

Cash at bank and in hand

24,223

18,474

58,166

46,163

CREDITORS

Amounts falling due within one year

7

(45,729

)

(35,801

)

NET CURRENT ASSETS

12,437

10,362

TOTAL ASSETS LESS CURRENT LIABILITIES

21,191

20,661

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

21,189

20,659

SHAREHOLDERS' FUNDS

21,191

20,661

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 8 May 2017 and were signed on its behalf by:

T W Clarke - Director

1.	STATUTORY INFORMATION

Part Used Tyres.net Limited is a private company, limited by shares , registered in Not specified/Other. The

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 balance sheet date.

Deferred tax

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

sheet 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 year 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

12,045

DEPRECIATION

At 1 January 2016

1,746

Charge for year

1,545

At 31 December 2016

3,291

NET BOOK VALUE

At 31 December 2016

8,754

At 31 December 2015

10,299

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

15,131

8,894

Other debtors

18,812

18,795

33,943

27,689

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

22,021

10,370

Taxation and social security

1,485

550

Other creditors

22,223

24,881

45,729

35,801

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Share capital 1

£1

2

2

9.	CONSOLIDATION RESERVES

Retained

earnings

£

At 1 January 2016

20,659

Profit for the year

530

At 31 December 2016

21,189

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

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

financial statements of Part Used Tyres.net Limited for the year ended 31 December 2016 which comprise the Profit and

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

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Part Used Tyres.net Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Part Used Tyres.net Limited and state those matters that we have agreed to state to the Board of Directors of Part Used Tyres.net Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Part Used Tyres.net Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Part Used Tyres.net Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Part Used Tyres.net Limited. You consider that Part Used Tyres.net Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Part Used Tyres.net Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

8 May 2017