REGISTERED NUMBER: 05100822 (England and Wales)

Ability Tyres & Motorcare Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr K Elwell

SECRETARY:

Mrs T A Elwell

REGISTERED OFFICE:

Unit 3-5

Ketley Business Park

Ketley

Telford

Shropshire

TF1 5JD

REGISTERED NUMBER:

05100822 (England and Wales)

ACCOUNTANTS:

Turner Peachey

Chartered Accountants

Lloyds Bank Chambers

7 Park Street

Shifnal

Shropshire

TF11 9BE

FIXED ASSETS

Tangible assets

2

38,766

49,450

CURRENT ASSETS

Stocks

13,260

22,102

Debtors

26,068

13,957

Cash at bank

47,464

55,730

86,792

91,789

CREDITORS

Amounts falling due within one year

125,643

133,837

NET CURRENT LIABILITIES

(38,851

)

(42,048

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(85

)

7,402

PROVISIONS FOR LIABILITIES

5,409

7,031

NET (LIABILITIES)/ASSETS

(5,494

)

371

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(5,496

)

369

SHAREHOLDERS' FUNDS

(5,494

)

371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 5 August 2013 and were signed by:

Mr K Elwell - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis even though the balance sheet shows an

insolvent position at 30 April 2013. The director feels that this basis is appropriate as he is confident that the

company will be able to discharge it's debts as they fall due.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2012

126,712

Additions

2,697

Disposals

(3,333

)

At 30 April 2013

126,076

DEPRECIATION

At 1 May 2012

77,262

Charge for year

10,882

Eliminated on disposal

(834

)

At 30 April 2013

87,310

NET BOOK VALUE

At 30 April 2013

38,766

At 30 April 2012

49,450

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.13

30.4.12

value:

£

£

2

Ordinary shares

£1

2

2

4.	TRANSACTIONS WITH DIRECTOR

The following loan to directors subsisted during the years ended 30 April 2013 and 30 April 2012:

30.4.13

30.4.12

£

£

Mr K Elwell

Balance outstanding at start of year

-

-

Amounts advanced

24,215

-

Amounts repaid

-

-

Balance outstanding at end of year

24,215

-

Interest has been charged on the above overdrawn loan account at the rate of 4%.There are no conditions

attached and the loan is to be repaid in full before 30th November 2013.