| Rochford Tyres & Exhausts Limited |
| Registered number: |
02972390 |
| Balance Sheet |
| as at 30 September 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
- |
|
|
49,946 |
| Tangible assets |
3 |
|
|
170,422 |
|
|
188,014 |
|
|
|
|
170,422 |
|
|
237,960 |
|
| Current assets |
| Stocks |
|
|
289,767 |
|
|
206,227 |
| Debtors |
4 |
|
141,269 |
|
|
48,703 |
| Cash at bank and in hand |
|
|
6,323 |
|
|
4,579 |
|
|
|
437,359 |
|
|
259,509 |
|
| Creditors: amounts falling due within one year |
5 |
|
(630,916) |
|
|
(531,979) |
|
| Net current liabilities |
|
|
|
(193,557) |
|
|
(272,470) |
|
| Net liabilities |
|
|
|
(23,135) |
|
|
(34,510) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
4 |
|
|
4 |
| Profit and loss account |
|
|
|
(23,139) |
|
|
(34,514) |
|
| Shareholders' funds |
|
|
|
(23,135) |
|
|
(34,510) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mark John Dolden |
| Director |
| Approved by the board on 23 February 2018 |
|
| Rochford Tyres & Exhausts Limited |
| Notes to the Accounts |
| for the year ended 30 September 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery, Motor vehicles |
25% reducing balance |
|
Farm Building & Improvements |
10% straight line |
|
Website Development |
20% straight line |
|
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
Website Development Cost and Goodwill: |
|
|
Cost |
|
At 1 October 2016 |
118,333 |
|
Disposals |
(62,433) |
|
At 30 September 2017 |
55,900 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 October 2016 |
68,387 |
|
On disposals |
(12,487) |
|
At 30 September 2017 |
55,900 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2017 |
- |
|
At 30 September 2016 |
49,946 |
|
|
|
|
|
|
|
|
|
|
Website Development Cost of £62,433 was being written off in equal annual instalments over its estimated economic life of 5 years in previous year. At the beginning of the year of the current accounting periond the website was decommissioned and sold at net book value, related cost and accumulated amortisation were written off. |
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 October 2016 |
282,189 |
|
420,319 |
|
49,065 |
|
751,573 |
|
Additions |
7,502 |
|
22,580 |
|
765 |
|
30,847 |
|
At 30 September 2017 |
289,691 |
|
442,899 |
|
49,830 |
|
782,420 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2016 |
168,708 |
|
370,431 |
|
24,420 |
|
563,559 |
|
Charge for the year |
28,969 |
|
13,117 |
|
6,353 |
|
48,439 |
|
At 30 September 2017 |
197,677 |
|
383,548 |
|
30,773 |
|
611,998 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2017 |
92,014 |
|
59,351 |
|
19,057 |
|
170,422 |
|
At 30 September 2016 |
113,481 |
|
49,888 |
|
24,645 |
|
188,014 |
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
36,539 |
|
26,642 |
|
Other debtors |
104,730 |
|
22,061 |
|
|
|
|
|
|
141,269 |
|
48,703 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
74,205 |
|
124,113 |
|
Trade creditors |
477,336 |
|
313,658 |
|
Other taxes and social security costs |
2,743 |
|
33,404 |
|
Directors loan account |
54,747 |
|
39,324 |
|
Other creditors |
21,885 |
|
21,480 |
|
|
|
|
|
|
630,916 |
|
531,979 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Rochford Tyres & Exhausts Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Bank Chambers |
|
1-3 Woodford Avenue |
|
Gants Hill, Ilford |
|
Essex |
|
IG2 6UF |
