Company Registration No. 04026705 (England and Wales)
DUDDON TYRES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
DUDDON TYRES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
DUDDON TYRES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
49,257
34,861
Current assets
Stocks
58,101
45,706
Debtors
65,611
68,445
Cash at bank and in hand
230,958
199,896
354,670
314,047
Creditors: amounts falling due within one year
(318,356)
(270,419)
Net current assets
36,314
43,628
Total assets less current liabilities
85,571
78,489
Provisions for liabilities
(9,907)
(6,972)
75,664
71,517
Capital and reserves
Called up share capital
3
104
104
Profit and loss account
75,560
71,413
Shareholders' funds
75,664
71,517
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 July 2016
Mr N Jessiman
Director
Company Registration No. 04026705
DUDDON TYRES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
15% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
95,393
Additions
20,262
At 31 March 2016
115,655
Depreciation
At 1 April 2015
60,532
Charge for the year
5,866
At 31 March 2016
66,398
Net book value
At 31 March 2016
49,257
At 31 March 2015
34,861
DUDDON TYRES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
1 Ordinary "A" shares of £1 each
1
1
1 Ordinary "B" shares of £1 each
1
1
1 Ordinary "C"shares of £1 each
1
1
1 Ordinary "D" shares of £1 each
1
1
104
104
4
Transactions with directors
The directors have collectively provided interest free loans to the company. At 31 March 2016 these totalled £119,227 (2015 - £128,723) and because they have no fixed repayment date are included in Creditors falling due within one year.