Company Registration No. 04026705 (England and Wales)
DUDDON TYRES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
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 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
34,861
41,013
Current assets
Stocks
45,706
37,058
Debtors
68,445
67,929
Cash at bank and in hand
199,896
197,407
314,047
302,394
Creditors: amounts falling due within one year
(270,419)
(279,399)
Net current assets
43,628
22,995
Total assets less current liabilities
78,489
64,008
Provisions for liabilities
(6,972)
(8,203)
71,517
55,805
Capital and reserves
Called up share capital
3
104
104
Profit and loss account
71,413
55,701
Shareholders' funds
71,517
55,805
For the financial year ended 31 March 2015 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 22 July 2015
Mr N Jessiman
Director
Company Registration No. 04026705
DUDDON TYRES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 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 April 2008).
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 2014 & at 31 March 2015
95,393
Depreciation
At 1 April 2014
54,380
Charge for the year
6,152
At 31 March 2015
60,532
Net book value
At 31 March 2015
34,861
At 31 March 2014
41,013
DUDDON TYRES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
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 2015 these totalled £128,723 (2014 - £137,666) and because they have no fixed repayment date are included in Creditors falling due within one year.