Steer Tyres Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02326348 (England and Wales)

Steer Tyres Limited

Unaudited Financial Statements

for the Year Ended 31 March 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

S D McCracken

REGISTERED OFFICE:

Granary Lodge

96 Appleton Gate

Newark

Nottinghamshire

NG24 1LS

REGISTERED NUMBER:

02326348 (England and Wales)

ACCOUNTANTS:

Haines Watts

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

TOTAL ASSETS LESS CURRENT LIABILITIES

-

-

CAPITAL AND RESERVES

Called up share capital

4

50,000

50,000

Retained earnings

5

(50,000

)

(50,000

)

SHAREHOLDERS' FUNDS

-

-

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 14 September 2017 and were signed by:

S D McCracken - Director

1.	STATUTORY INFORMATION

Steer 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.

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.

The company was dormant throughout the current year and previous year.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgement,

estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from

other sources. The estimates and associated assumptions are based on historical experience and other factors

that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that

period, or in the period of revision and future periods where the revision affects both current and future periods.

Taxation

Taxation for the year 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 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 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.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

50,000

Ordinary

£1

50,000

50,000

5.

RESERVES

Retained

earnings

£

At 1 April 2016

(50,000

)

Profit for the year

-

At 31 March 2017

(50,000

)

6.	FIRST YEAR ADOPTION

The company has adopted the provisions set out in FRS102 (Section 1A) for small companies. This is the first

year that the company has prepared financial statements under the new regulatory framework. It is not

considered that there are any transitional adjustments required to either the prior year figures nor those at the

transitional date. As such, no reconciliation is provided in these financial statements.