ZR Tyres Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07708949 (England and Wales)

ZR TYRES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

Chartered Accountants' Report

7

DIRECTORS:

B C Bush

N A Bush

S D McCracken

REGISTERED OFFICE:

Station Yard

Horncastle

Lincolnshire

LN9 5AQ

BUSINESS ADDRESS:

Unit 7

The Pelham Centre

Canwick Road

Lincoln

LN5 8HE

REGISTERED NUMBER:

07708949 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

FIXED ASSETS

Tangible assets

4

89,564

108,619

CURRENT ASSETS

Stocks

41,636

44,238

Debtors

5

11,051

11,408

Cash at bank and in hand

28,016

14,416

80,703

70,062

CREDITORS

Amounts falling due within one year

6

428,698

398,210

NET CURRENT LIABILITIES

(347,995

)

(328,148

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(258,431

)

(219,529

)

PROVISIONS FOR LIABILITIES

2,139

-

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(260,670

)

(219,629

)

SHAREHOLDERS' FUNDS

(260,570

)

(219,529

)

(258,431

)

(219,529

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5 June 2018 and were signed on its behalf by:

N A Bush - Director

S D McCracken - Director

1.	STATUTORY INFORMATION

ZR 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance

for obsolete and slow moving items.

Going concern

Whilst the company has negative shareholder funds, the accounts have been prepared on a going concern

basis as the two shareholders have provided sufficient finance to meet the current financial needs of the

Company. The shareholders have indicated that they are not looking to withdraw these facilities in the next

twelve months. On this basis it is considered the company can successfully trade.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

183,898

Additions

950

Disposals

(636

)

At 31 December 2017

184,212

DEPRECIATION

At 1 January 2017

75,279

Charge for year

19,952

Eliminated on disposal

(583

)

At 31 December 2017

94,648

NET BOOK VALUE

At 31 December 2017

89,564

At 31 December 2016

108,619

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

11,051

11,408

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

9,109

5,092

Taxation and social security

525

4,291

Other creditors

419,064

388,827

428,698

398,210

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

21,000

28,000

Between one and five years

-

112,000

In more than five years

-

28,000

21,000

168,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

50

A Ordinary

£1

50

50

50

B Ordinary

£1

50

50

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of ZR Tyres Limited for the year ended 31 December 2017 which comprise the Income Statement,

Statement of Financial Position and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of ZR Tyres Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ZR Tyres Limited and state those matters that we have agreed to state to the Board of Directors of ZR Tyres Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ZR Tyres Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ZR Tyres Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of ZR Tyres Limited. You consider that ZR Tyres Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of ZR Tyres Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

Date: June 2018