Truck Align Co Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01126260 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2013

FOR

TRUCK ALIGN CO LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs D Allen

G D Allen

L A Allen

L Allen

SECRETARY:

G D Allen

REGISTERED OFFICE:

21 East Street

Bromley

Kent

BR1 1QE

REGISTERED NUMBER:

01126260 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

21 East Street

Bromley

Kent

BR1 1QE

FIXED ASSETS

Tangible assets

2

158,791

200,868

CURRENT ASSETS

Stocks

113,182

178,371

Debtors

2,528,383

2,460,978

Cash at bank and in hand

109

332

2,641,674

2,639,681

CREDITORS

Amounts falling due within one year

1,641,809

1,800,460

NET CURRENT ASSETS

999,865

839,221

TOTAL ASSETS LESS CURRENT LIABILITIES

1,158,656

1,040,089

CREDITORS

Amounts falling due after more than one year

(7,231

)

(57,850

)

ACCRUALS AND DEFERRED INCOME

(29,274

)

(29,274

)

NET ASSETS

1,122,151

952,965

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

1,122,051

952,865

SHAREHOLDERS' FUNDS

1,122,151

952,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 July 2014 and were signed on its behalf by:

L A Allen - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company owes significant arrears of VAT and PAYE to HM Revenue and Customs. The directors have a

reasonable expectation that the company will be able to raise the necessary finance to repay these arrears. Thus

they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Accounting convention

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

Turnover

Turnover represents net invoiced sales 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Stocks

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

allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 the profit and loss account over the relevant period. The

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

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

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2012

1,015,272

Additions

43,273

Disposals

(51,699

)

At 31 October 2013

1,006,846

DEPRECIATION

At 1 November 2012

814,404

Charge for year

52,188

Eliminated on disposal

(18,537

)

At 31 October 2013

848,055

NET BOOK VALUE

At 31 October 2013

158,791

At 31 October 2012

200,868

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.13

31.10.12

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE PARENT COMPANY

VIP Limited is regarded by the directors as being the company's ultimate parent company.

The ultimate controlling party of VIP Limited is G D Allen, a director and the majority shareholder of VIP

Limited.