BNJ Tyre Sales Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04996084 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

BNJ TYRE SALES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B N Jones

J F Murray

SECRETARY:

Mrs L J Jones

REGISTERED OFFICE:

46 Hamilton Square

Birkenhead

Merseyside

CH41 5AR

REGISTERED NUMBER:

04996084 (England and Wales)

ACCOUNTANTS:

McLintocks Limited

Chartered Accountants

46 Hamilton Square

Birkenhead

Merseyside

CH41 5AR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

18,559

21,759

18,559

21,759

CURRENT ASSETS

Stocks

6,000

1,200

Debtors

6

58,241

41,939

Cash at bank and in hand

2,985

23,033

67,226

66,172

CREDITORS

Amounts falling due within one year

7

70,381

84,491

NET CURRENT LIABILITIES

(3,155

)

(18,319

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,404

3,440

CREDITORS

Amounts falling due after more than one year

8

-

(938

)

PROVISIONS FOR LIABILITIES

(1,593

)

(2,102

)

NET ASSETS

13,811

400

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

13,710

299

SHAREHOLDERS' FUNDS

13,811

400

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 8 December 2017 and were signed on its behalf by:

B N Jones - Director

1.	STATUTORY INFORMATION

BNJ Tyre Sales 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.

These financial statements for the year ended 31st March 2017 are the first financial

statements that comply with FRS 102 Section 1A small entities. The date of transition is 1st

April 2015.

The transition to FRS 102 Section 1A small entities has resulted in no changes in accounting

policies and has therefore had no impact on opening equity and profit for the comparative

period.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and

represents amounts receivable for goods supplied and services rendered, stated net of

discounts and of Value Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on cost, 15% on reducing balance and in accordance with the property

Stocks

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

for obsolete and slow moving items.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors,

trade creditors and directors' loans.

Directors' loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be

paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is

found, an impairment loss is recognised in the Statement of Income a and Retained

Earnings.

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

30,000

AMORTISATION

At 1 April 2016

and 31 March 2017

30,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

35,711

Additions

700

At 31 March 2017

36,411

DEPRECIATION

At 1 April 2016

13,952

Charge for year

3,900

At 31 March 2017

17,852

NET BOOK VALUE

At 31 March 2017

18,559

At 31 March 2016

21,759

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

14,250

DEPRECIATION

At 1 April 2016

5,700

Charge for year

2,850

At 31 March 2017

8,550

NET BOOK VALUE

At 31 March 2017

5,700

At 31 March 2016

8,550

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

58,241

41,939

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

938

3,750

Trade creditors

43,478

40,573

Taxation and social security

13,119

16,596

Other creditors

12,846

23,572

70,381

84,491

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

938

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

938

4,688