REGISTERED NUMBER:
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NORTH HANTS TYRE AND REMOULDING |
COMPANY LIMITED |
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ABBREVIATED ACCOUNTS |
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FOR THE YEAR ENDED 31 DECEMBER 2015 |
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REGISTERED NUMBER:
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NORTH HANTS TYRE AND REMOULDING |
COMPANY LIMITED |
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ABBREVIATED ACCOUNTS |
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FOR THE YEAR ENDED 31 DECEMBER 2015 |
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NORTH HANTS TYRE AND REMOULDING |
COMPANY LIMITED (REGISTERED NUMBER: 00514164) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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Page |
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Abbreviated Balance Sheet | 1 |
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Notes to the Abbreviated Accounts | 3 |
NORTH HANTS TYRE AND REMOULDING |
COMPANY LIMITED (REGISTERED NUMBER: 00514164) |
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ABBREVIATED BALANCE SHEET |
31 DECEMBER 2015 |
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31/12/15 | 31/12/14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investment property | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
NORTH HANTS TYRE AND REMOULDING |
COMPANY LIMITED (REGISTERED NUMBER: 00514164) |
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ABBREVIATED BALANCE SHEET - continued |
31 DECEMBER 2015 |
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The financial statements were approved by the Board of Directors on
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NORTH HANTS TYRE AND REMOULDING |
COMPANY LIMITED (REGISTERED NUMBER: 00514164) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the |
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities |
(effective April 2008). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Deferred tax |
The charge for taxation takes into account taxation deferred as a result of timing differences between the |
treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
respect of all timing differences that have originated but not reversed at the balance sheet date. However, |
deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the |
timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance |
sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating |
result. |
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Investment properties |
Investment properties are shown at market value in accordance with Statement of Standard Accounting |
Practice No. 19, which requires the company's properties which are held for long-term investment to be |
included in the Balance Sheet at their open market values. |
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Depreciation is not provided in respect of investment properties. This policy represents a departure from |
statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors |
consider that this policy is necessary in order that the Accounts may give a true and fair view. |
NORTH HANTS TYRE AND REMOULDING |
COMPANY LIMITED (REGISTERED NUMBER: 00514164) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 January 2015 |
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Additions |
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At 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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3. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 January 2015 |
and 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/12/15 | 31/12/14 |
value: | £ | £ |
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Ordinary | £1 |
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5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following loans were due to the directors at the year end - Mrs B Pettifor £166,357 (2014 - £243,157), |
J Pettifor £9,466 (2014 - £9,466). Mrs D Pettifor £15,000 (2014 - £25,000) The loans are interest free and |
repayable on demand. |