Matlock MOT Tyre & Exhaust Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05923931 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

Matlock MOT Tyre & Exhaust Centre Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S Baker

REGISTERED OFFICE:

18 Bakewell Road

Matlock

Derbyshire

DE4 3AU

REGISTERED NUMBER:

05923931 (England and Wales)

ACCOUNTANTS:

Sutton McGrath Hartley Limited

5 Westbrook Court

Sharrowvale Road

Sheffield

South Yorkshire

S11 8YZ

FIXED ASSETS

Tangible assets

4

30,766

29,519

CURRENT ASSETS

Stocks

2,498

1,308

Debtors

5

12,721

6,649

Cash at bank and in hand

42,355

39,792

57,574

47,749

CREDITORS

Amounts falling due within one year

6

55,779

66,580

NET CURRENT ASSETS/(LIABILITIES)

1,795

(18,831

)

TOTAL ASSETS LESS CURRENT LIABILITIES

32,561

10,688

CREDITORS

Amounts falling due after more than one year

7

22,950

22,950

NET ASSETS/(LIABILITIES)

9,611

(12,262

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

9,511

(12,362

)

SHAREHOLDERS' FUNDS

9,611

(12,262

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 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 22 November 2018 and were signed by:

Mr S Baker - Director

1.	STATUTORY INFORMATION

Matlock MOT Tyre & Exhaust Centre Ltd 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.	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.

Long leasehold

-

Straight line over 9 years

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

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

moving items.

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2017

12,500

58,298

70,798

Additions

-

8,448

8,448

At 30 September 2018

12,500

66,746

79,246

DEPRECIATION

At 1 October 2017

2,778

38,501

41,279

Charge for year

1,389

5,812

7,201

At 30 September 2018

4,167

44,313

48,480

NET BOOK VALUE

At 30 September 2018

8,333

22,433

30,766

At 30 September 2017

9,722

19,797

29,519

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

9,482

5,679

Other debtors

3,239

970

12,721

6,649

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

9,742

11,896

Taxation and social security

4,108

5,519

Other creditors

41,929

49,165

55,779

66,580

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Trade creditors

22,950

22,950

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 October 2017

(12,362

)

Profit for the year

21,873

At 30 September 2018

9,511