31/08/2019
2019-08-31
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No description of principal activities is disclosed
2018-09-01
Sage Accounts Production 19.0 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
05881071
2018-09-01
2019-08-31
05881071
2019-08-31
05881071
2018-08-31
05881071
2017-09-01
2018-08-31
05881071
2018-08-31
05881071
core:PlantMachinery
2018-09-01
2019-08-31
05881071
core:MotorVehicles
2018-09-01
2019-08-31
05881071
core:NetGoodwill
2018-09-01
2019-08-31
05881071
bus:RegisteredOffice
2018-09-01
2019-08-31
05881071
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2018-09-01
2019-08-31
05881071
bus:LeadAgentIfApplicable
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2019-08-31
05881071
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2018-09-01
2019-08-31
05881071
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2018-09-01
2019-08-31
05881071
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2019-08-31
05881071
core:PlantMachinery
2018-08-31
05881071
core:FurnitureFittingsToolsEquipment
2018-08-31
05881071
core:MotorVehicles
2018-08-31
05881071
core:PlantMachinery
2019-08-31
05881071
core:FurnitureFittingsToolsEquipment
2019-08-31
05881071
core:MotorVehicles
2019-08-31
05881071
core:WithinOneYear
2019-08-31
05881071
core:WithinOneYear
2018-08-31
05881071
core:AfterOneYear
2019-08-31
05881071
core:AfterOneYear
2018-08-31
05881071
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2018-09-01
2019-08-31
05881071
core:UKTax
2017-09-01
2018-08-31
05881071
core:ShareCapital
2019-08-31
05881071
core:ShareCapital
2018-08-31
05881071
core:RetainedEarningsAccumulatedLosses
2019-08-31
05881071
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2018-08-31
05881071
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core:ShareCapital
2019-08-31
05881071
bus:OrdinaryShareClass1
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2018-08-31
05881071
core:NetGoodwill
2018-08-31
05881071
core:PlantMachinery
2018-08-31
05881071
core:MotorVehicles
2018-08-31
05881071
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core:MotorVehicles
2019-08-31
05881071
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core:MotorVehicles
2018-08-31
05881071
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2018-09-01
2019-08-31
05881071
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2019-08-31
05881071
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2019-08-31
05881071
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2019-08-31
05881071
bus:PrivateLimitedCompanyLtd
2018-09-01
2019-08-31
Company registration number:
05881071
Steve Lister Tyres Ltd
Unaudited financial statements
31 August 2019
Steve Lister Tyres Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Steve Lister Tyres Ltd
Directors and other information
|
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Director
|
Stephen Lister
|
|
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Secretary
|
Linda Ratcliffe
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Company number
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05881071
|
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|
Registered office
|
161 Preston Road
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Coppull
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Chorley
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PR7 5DR
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Business address
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161 Preston Road
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Coppull
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Chorley
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PR7 5DR
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Accountants
|
Leach Briely
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Craven House
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32 Lee Lane
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Horwich
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Bolton
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BL6 7BY
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Bankers
|
HSBC
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26 Market Street
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Chorley
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PR7 5DR
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|
Steve Lister Tyres Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Steve Lister Tyres Ltd
Year ended 31 August 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Steve Lister Tyres Ltd for the year ended 31 August 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.co.uk.
This report is made solely to the director of Steve Lister Tyres Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Steve Lister Tyres Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.co.uk. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Steve Lister Tyres Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Steve Lister Tyres Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Steve Lister Tyres Ltd. You consider that Steve Lister Tyres Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Steve Lister Tyres Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Leach Briely
Accountants
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY
17 October 2019
Steve Lister Tyres Ltd
Statement of financial position
31 August 2019
|
|
|
2019
|
|
|
|
2018
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
6
|
37,500
|
|
|
|
37,500
|
|
|
Tangible assets
|
|
7
|
48,802
|
|
|
|
60,239
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
86,302
|
|
|
|
97,739
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
12,750
|
|
|
|
16,250
|
|
|
Debtors
|
|
8
|
139,073
|
|
|
|
191,090
|
|
|
Cash at bank and in hand
|
|
|
94
|
|
|
|
115
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
151,917
|
|
|
|
207,455
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
9
|
(
132,651)
|
|
|
|
(
175,322)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
19,266
|
|
|
|
32,133
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
105,568
|
|
|
|
129,872
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
10
|
|
|
(
31,935)
|
|
|
|
(
52,989)
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
9,273)
|
|
|
|
(
11,446)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
64,360
|
|
|
|
65,437
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
11
|
|
|
100
|
|
|
|
100
|
Profit and loss account
|
|
|
|
|
64,260
|
|
|
|
65,337
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholder funds
|
|
|
|
|
64,360
|
|
|
|
65,437
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
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|
For the year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
17 October 2019
, and are signed on behalf of the board by:
Stephen Lister
Director
Company registration number:
05881071
Steve Lister Tyres Ltd
Notes to the financial statements
Year ended 31 August 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 161 Preston Road, Coppull, Chorley, PR7 5DR.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements are prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for the supply and fitting of motor vehicle tyres.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income. Current tax is recognised on taxable profiit for the current period. Current tax is measured at the amounts of tax expected to be paid using tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Amortisation of goodwill has not been provided for by the company as in the opinion of the director it has an indefinite useful economic life. This accounting policy departs from the requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation had been accounted for the charge for the year would have amounted to £3,700 and the profit for the year reduced accordingly.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery
|
-
|
20 %
|
reducing balance
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
Stocks
Stocks are measured at cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2018:
4
).
5.
Tax on profit
Major components of tax expense
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Current tax:
|
|
|
|
|
UK current tax expense
|
|
12,007
|
15,459
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Deferred tax:
|
|
|
|
|
Origination and reversal of timing differences
|
|
(
2,173)
|
(
112)
|
|
|
|
_______
|
_______
|
|
Tax on profit
|
|
9,834
|
15,347
|
|
|
|
_______
|
_______
|
|
|
|
|
|
6.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 September 2018 and 31 August 2019
|
37,500
|
37,500
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
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Amortisation
|
|
|
|
|
|
|
|
At 1 September 2018 and 31 August 2019
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 August 2019
|
37,500
|
37,500
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 August 2018
|
37,500
|
37,500
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Tangible assets
|
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 September 2018
|
93,947
|
1,882
|
38,944
|
134,773
|
|
|
|
|
Additions
|
2,087
|
-
|
-
|
2,087
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 August 2019
|
96,034
|
1,882
|
38,944
|
136,860
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 September 2018
|
58,357
|
1,882
|
14,295
|
74,534
|
|
|
|
|
Charge for the year
|
7,362
|
-
|
6,162
|
13,524
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 August 2019
|
65,719
|
1,882
|
20,457
|
88,058
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 August 2019
|
30,315
|
-
|
18,487
|
48,802
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 August 2018
|
35,590
|
-
|
24,649
|
60,239
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
|
|
|
|
|
|
|
|
|
|
Motor vehicles
|
|
|
|
|
|
|
|
|
£
|
|
|
|
|
|
|
|
At 31 August 2019
|
5,104
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
At 31 August 2018
|
20,150
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
46,654
|
88,595
|
|
Other debtors
|
|
92,419
|
102,495
|
|
|
|
_______
|
_______
|
|
|
|
139,073
|
191,090
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
50,962
|
27,573
|
|
Trade creditors
|
|
39,742
|
99,479
|
|
Corporation tax
|
|
22,281
|
15,459
|
|
Social security and other taxes
|
|
10,951
|
20,988
|
|
Other creditors
|
|
8,715
|
11,823
|
|
|
|
_______
|
_______
|
|
|
|
132,651
|
175,322
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Creditors: amounts falling due after more than one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
26,024
|
41,639
|
|
Other creditors
|
|
5,911
|
11,350
|
|
|
|
_______
|
_______
|
|
|
|
31,935
|
52,989
|
|
|
|
_______
|
_______
|
|
|
|
|
|
11.
Called up share capital
Issued, called up and fully paid
|
|
|
2019
|
|
|
|
2018
|
|
|
|
|
|
No
|
|
£
|
|
No
|
|
£
|
|
Ordinary
shares of £
1.00 each
|
|
100
|
|
100
|
|
100
|
|
100
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|