Agricultural Tyres and Wheels Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06893864 (England and Wales)

AGRICULTURAL TYRES AND WHEELS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

C C Sims

REGISTERED OFFICE:

Taumberland House

Asperton road

Wigtoft

Boston

Lincolnshire

PE20 2PS

REGISTERED NUMBER:

06893864 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Boston)

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

FIXED ASSETS

Tangible assets

2

222,404

206,992

Investments

3

1

222,405

206,993

CURRENT ASSETS

Stocks

426,253

310,959

Debtors

114,175

135,643

Cash at bank

32,894

92,196

573,322

538,798

CREDITORS

Amounts falling due within one year

577,442

598,180

NET CURRENT LIABILITIES

(4,120

)

(59,382

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

218,285

147,611

PROVISIONS FOR LIABILITIES

15,564

12,298

NET ASSETS

202,721

135,313

CAPITAL AND RESERVES

Called up share capital

4

4,500

Profit and loss account

198,221

130,813

SHAREHOLDERS' FUNDS

202,721

135,313

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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 15 November 2016 and were signed by:

C C Sims - Director

1.	ACCOUNTING POLICIES

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 January 2015).

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.

Short leasehold

-

Over the term of the lease

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 2015

283,224

Additions

44,956

Disposals

(31,414

)

At 30 April 2016

296,766

DEPRECIATION

At 1 May 2015

76,232

Charge for year

20,212

Eliminated on disposal

(22,082

)

At 30 April 2016

74,362

NET BOOK VALUE

At 30 April 2016

222,404

At 30 April 2015

206,992

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2015

and 30 April 2016

1

NET BOOK VALUE

At 30 April 2016

1

At 30 April 2015

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Asperton Management Company Limited

Nature of business: Property rental

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

113,040

76,339

Profit for the year

45,877

46,121

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

230,000

'E' Shares

£1

2,300

120,000

'P' Shares

£1

1,200

3,500