Micro-entity Accounts - PRO-FIT TYRES & EXHAUSTS LIMITED

PRO-FIT TYRES & EXHAUSTS LIMITED - Company Information

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Registered Number 01923066

PRO-FIT TYRES & EXHAUSTS LIMITED

Micro-entity Accounts

31 March 2017

PRO-FIT TYRES & EXHAUSTS LIMITED Registered Number 01923066

Micro-entity Balance Sheet as at 31 March 2017

	Notes	31/03/2017	31/10/2015
		£	£
Fixed Assets		26,284	36,290
Current Assets		66,430	48,949
Creditors: amounts falling due within one year		(74,384)	(100,578)
Net current assets (liabilities)		(7,954)	(51,629)
Total assets less current liabilities		18,330	(15,339)
Total net assets (liabilities)		18,330	(15,339)
Capital and reserves
Called up share capital	1	100	100
Other reserves		(15,439)	(117)
Profit and loss account		33,669	(15,322)
Shareholders' funds		18,330	(15,339)

For the year ending 31 March 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 8 June 2017

And signed on their behalf by:
James Walker, Director
Pauline Jean Walker, Director

PRO-FIT TYRES & EXHAUSTS LIMITED Registered Number 01923066

Notes to the Micro-entity Accounts for the period ended 31 March 2017

1Called Up Share Capital
Allotted, called up and fully paid:

	31/03/2017 £	31/10/2015 £
1 Ordinary shares of £1 each	1	1

The shares are allotted, called up and fully paid.

2Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the period, net of value added tax

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Freehold property 2% straight line
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Office equipment 33% reducing balance

Other accounting policies
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for absolute and slow moving items.