For the year ended 28 February 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 02581872
A & B TYRES LTD
For the year ended 28 February 2016
1
Accountants' Report
2
Balance Sheet
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Notes to the Abbreviated Financial Statements
A & B TYRES LTD
Chartered Accountants' Report
For the year ended 28 February 2016
Chartered Accountants' Report to the Board of Directors
As described on the balance sheet you are responsible for the preparation of the financial statements for the year |
ended 28 February 2016 and you consider that the company is exempt from an audit under the Companies Act |
2006. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you |
to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Brindley Goldstein Limited
103 High Street
Waltham Cross
Hertfordshire
EN8 7AN
04 November 2016
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Notes to the Abbreviated Financial Statements |
A & B TYRES LTD
For the year ended 28 February 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Motor Vehicles
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
206,999
206,999
3,663
535
Charge for year
4,198
202,801
203,336
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Notes to the Abbreviated Financial Statements |
A & B TYRES LTD
For the year ended 28 February 2016
3 Fixed asset investments |
300,000
300,000
300,000
300,000
The company owns 36% of the ordinary share capital of Royal Real Estates Inc.
Allotted called up and fully paid |
2016
2015
100 Ordinary shares of £1.00 each |
100
100
100
100
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