VALLEY VIEW GARAGE & TYRE CENTRE LTD

Company Registration Number:
12883472 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2021

Period of accounts

Start date: 16 September 2020

End date: 30 September 2021

VALLEY VIEW GARAGE & TYRE CENTRE LTD

Contents of the Financial Statements

for the Period Ended 30 September 2021

Balance sheet
Notes

VALLEY VIEW GARAGE & TYRE CENTRE LTD

Balance sheet

As at 30 September 2021


Notes

2021


£
Called up share capital not paid: 0
Fixed assets
Intangible assets:   0
Tangible assets: 3 190,761
Investments:   0
Total fixed assets: 190,761
Current assets
Stocks: 42,500
Debtors:   44,416
Cash at bank and in hand: 97,950
Investments:   0
Total current assets: 184,866
Creditors: amounts falling due within one year:   (325,913)
Net current assets (liabilities): (141,047)
Total assets less current liabilities: 49,714
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: (1,641)
Total net assets (liabilities): 48,073
Capital and reserves
Called up share capital: 2
Share premium account: 0
Revaluation reserve: 0
Other reserves: 0
Profit and loss account: 48,071
Shareholders funds: 48,073

The notes form part of these financial statements

VALLEY VIEW GARAGE & TYRE CENTRE LTD

Balance sheet statements

For the year ending 30 September 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 02 September 2022
and signed on behalf of the board by:

Name: Mr C Hatch
Status: Director

The notes form part of these financial statements

VALLEY VIEW GARAGE & TYRE CENTRE LTD

Notes to the Financial Statements

for the Period Ended 30 September 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the economic life of that asset as follows: Annual depreciation of freehold property is calculated on the buildings only and at a rate of 2% on a straight line basis, annual depreciation of fixtures, fittings and equipment is calculated at 15% on a reducing balance basis, annual depreciation on motor vehicles is calculated at 25% on a reducing balance basis.If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

VALLEY VIEW GARAGE & TYRE CENTRE LTD

Notes to the Financial Statements

for the Period Ended 30 September 2021

2. Employees

2021
Average number of employees during the period 2

VALLEY VIEW GARAGE & TYRE CENTRE LTD

Notes to the Financial Statements

for the Period Ended 30 September 2021

3. Tangible Assets

Total
Cost £
Additions 202,556
Disposals 0
Revaluations 0
Transfers 0
At 30 September 2021 202,556
Depreciation
Charge for year 11,795
On disposals 0
Other adjustments 0
At 30 September 2021 11,795
Net book value
At 30 September 2021 190,761