Company Registration No. 10163113 (England and Wales)
DBI VALUE TYRES LTD
Unaudited accounts
for the year ended 31 May 2021
DBI VALUE TYRES LTD
Unaudited accounts
Contents
DBI VALUE TYRES LTD
Company Information
for the year ended 31 May 2021
Company Number
10163113 (England and Wales)
Registered Office
423 NOTTINGHAM ROAD
ILKESTON
DERBYSHIRE
DE7 5BP
UNITED KINGDOM
DBI VALUE TYRES LTD
Statement of financial position
as at 31 May 2021
Tangible assets
6,086
5,232
Cash at bank and in hand
304
15,807
Creditors: amounts falling due within one year
(40,176)
(21,870)
Net current liabilities
(37,532)
(1,683)
Total assets less current liabilities
(31,446)
3,549
Creditors: amounts falling due after more than one year
(5,644)
(6,444)
Provisions for liabilities
Net liabilities
(37,868)
(3,673)
Called up share capital
100
100
Profit and loss account
(37,968)
(3,773)
Shareholders' funds
(37,868)
(3,673)
For the year ending 31 May 2021 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 November 2021 and were signed on its behalf by
Divine FORBIN
Director
Company Registration No. 10163113
DBI VALUE TYRES LTD
Notes to the Accounts
for the year ended 31 May 2021
DBI VALUE TYRES LTD is a private company, limited by shares, registered in England and Wales, registration number 10163113. The registered office is 423 NOTTINGHAM ROAD, ILKESTON, DERBYSHIRE, DE7 5BP, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line basis over 5 years
Motor vehicles
25% on reducing balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2020
5,994
5,300
11,294
At 31 May 2021
5,994
7,650
13,644
At 1 June 2020
4,296
1,766
6,062
Charge for the year
-
1,496
1,496
At 31 May 2021
4,296
3,262
7,558
At 31 May 2021
1,698
4,388
6,086
At 31 May 2020
1,698
3,534
5,232
DBI VALUE TYRES LTD
Notes to the Accounts
for the year ended 31 May 2021
5
Creditors: amounts falling due within one year
2021
2020
Loans from directors
27,725
9,967
6
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
5,644
5,644
7
Average number of employees
During the year the average number of employees was 1 (2020: 1).