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Draft
CHISWICK TYRES LIMITED
Registered Number:07306893
For the year ended 31 May 2022
England and Wales
Unaudited Financial Statements
2
Draft
For the year ended 31 May 2022
CHISWICK TYRES LIMITED
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Draft
Registered Number :
07306893
As at 31 May 2022
CHISWICK TYRES LIMITED
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
5,780
6,300
2
5,780
6,300
Current assets
Inventories
20,000
29,000
3
30,986
Cash and cash equivalents
1,218
30,218
50,986
Trade and other payables: amounts falling due within one
year
(36,901)
(15,774)
4
14,085
14,444
Net current assets
Total assets less current liabilities
20,224
20,385
Trade and other payables: amounts falling due after more
than one year
(34,408)
(23,707)
5
(3,483)
Net liabilities
(14,023)
Capital and reserves
Called up share capital
100
100
Retained earnings
(3,583)
(14,123)
(3,483)
(14,023)
Shareholders' funds
For the year ended 31 May 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MR HUMAYUN ALIZADA Director
These financial statements were approved and authorised for issue by the Board on 17 August 2022 and were signed by:
The notes form part of these financial statements
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4
Draft
For the year ended 31 May 2022
CHISWICK TYRES LIMITED
Notes to the Financial Statements
Statutory Information
CHISWICK TYRES LIMITED is a private limited company, limited by shares, domiciled in England and Wales,
registration number 07306893.
Registered address:
141-143 GREEN LANES
PALMERS GREEN
LONDON
N13 4SP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, 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:
Plant and machinery
20 Reducing balance
20 Reducing balance
Computer equipment
20 Reducing balance
Fixtures and fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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5
Draft
For the year ended 31 May 2022
CHISWICK TYRES LIMITED
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 June 2021
16,983
480
756
15,747
At 31 May 2022
15,747
756
480
16,983
Provision for depreciation and impairment
At 01 June 2021
10,683
430
506
9,747
Charge for year
520
10
10
500
At 31 May 2022
11,203
440
516
10,247
At 31 May 2022
Net book value
5,500
240
40
5,780
At 31 May 2021
6,000
250
50
6,300
3. Inventories
2021
2022
£
£
Stocks
29,000
20,000
4. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Trade creditors
-
15,498
Taxation and social security
5,598
594
Other creditors
10,176
20,809
15,774
36,901
5. Trade and other payables: amounts falling due after more than one year
2021
2022
£
£
Bank loans and overdraft
23,707
34,408
6. Average number of persons employed
During the year the average number of employees was 0
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