IRIS Accounts Production v23.2.0.158 01592639 Board of Directors 1.2.22 31.1.23 31.1.23 false true false false true false A Ordinary 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure015926392022-01-31015926392023-01-31015926392022-02-012023-01-31015926392021-01-31015926392021-02-012022-01-31015926392022-01-3101592639ns16:EnglandWales2022-02-012023-01-3101592639ns15:PoundSterling2022-02-012023-01-3101592639ns11:Director12022-02-012023-01-3101592639ns11:PrivateLimitedCompanyLtd2022-02-012023-01-3101592639ns11:SmallEntities2022-02-012023-01-3101592639ns11:AuditExempt-NoAccountantsReport2022-02-012023-01-3101592639ns11:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3101592639ns11:SmallCompaniesRegimeForAccounts2022-02-012023-01-3101592639ns11:FullAccounts2022-02-012023-01-3101592639ns11:OrdinaryShareClass52022-02-012023-01-3101592639ns11:Director22022-02-012023-01-3101592639ns11:Director32022-02-012023-01-3101592639ns11:Director42022-02-012023-01-3101592639ns11:CompanySecretary12022-02-012023-01-3101592639ns11:RegisteredOffice2022-02-012023-01-3101592639ns6:CurrentFinancialInstruments2023-01-3101592639ns6:CurrentFinancialInstruments2022-01-3101592639ns6:ShareCapital2023-01-3101592639ns6:ShareCapital2022-01-3101592639ns6:SharePremium2023-01-3101592639ns6:SharePremium2022-01-3101592639ns6:RetainedEarningsAccumulatedLosses2023-01-3101592639ns6:RetainedEarningsAccumulatedLosses2022-01-3101592639ns6:LongLeaseholdAssetsns6:LandBuildings2022-02-012023-01-3101592639ns6:PlantMachinery2022-02-012023-01-3101592639ns6:FurnitureFittings2022-02-012023-01-3101592639ns6:MotorVehicles2022-02-012023-01-3101592639ns6:LongLeaseholdAssetsns6:LandBuildings2022-01-3101592639ns6:PlantMachinery2022-01-3101592639ns6:FurnitureFittings2022-01-3101592639ns6:LongLeaseholdAssetsns6:LandBuildings2023-01-3101592639ns6:PlantMachinery2023-01-3101592639ns6:FurnitureFittings2023-01-3101592639ns6:LongLeaseholdAssetsns6:LandBuildings2022-01-3101592639ns6:PlantMachinery2022-01-3101592639ns6:FurnitureFittings2022-01-3101592639ns6:MotorVehicles2022-01-3101592639ns6:ComputerEquipment2022-01-3101592639ns6:ComputerEquipment2022-02-012023-01-3101592639ns6:MotorVehicles2023-01-3101592639ns6:ComputerEquipment2023-01-3101592639ns6:MotorVehicles2022-01-3101592639ns6:ComputerEquipment2022-01-3101592639ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3101592639ns6:WithinOneYearns6:CurrentFinancialInstruments2022-01-3101592639ns11:OrdinaryShareClass52023-01-31
REGISTERED NUMBER: 01592639 (England and Wales)






Reg Greenwood (Tyres & Exhausts) Limited

Financial Statements

for the Year Ended 31 January 2023






Reg Greenwood (Tyres & Exhausts) Limited (Registered number: 01592639)

Contents of the Financial Statements
for the year ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reg Greenwood (Tyres & Exhausts) Limited

Company Information
for the year ended 31 January 2023







DIRECTORS: Mr K Clarke
Mrs J Clarke
Mr S K Clarke
Mr J S Clarke





SECRETARY: Mrs J Clarke





REGISTERED OFFICE: 71 Bank Street
Ossett
West Yorkshire
WF5 8PR





REGISTERED NUMBER: 01592639 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Reg Greenwood (Tyres & Exhausts) Limited (Registered number: 01592639)

Balance Sheet
31 January 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 34,111 18,612

CURRENT ASSETS
Stocks 73,948 70,000
Debtors 5 332,059 410,917
Cash at bank and in hand 730,389 835,309
1,136,396 1,316,226
CREDITORS
Amounts falling due within one year 6 473,131 672,875
NET CURRENT ASSETS 663,265 643,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

697,376

661,963

PROVISIONS FOR LIABILITIES 5,698 2,581
NET ASSETS 691,678 659,382

Reg Greenwood (Tyres & Exhausts) Limited (Registered number: 01592639)

Balance Sheet - continued
31 January 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 7 1,127 1,127
Share premium 29,991 29,991
Retained earnings 660,560 628,264
SHAREHOLDERS' FUNDS 691,678 659,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





Mr S K Clarke - Director


Reg Greenwood (Tyres & Exhausts) Limited (Registered number: 01592639)

Notes to the Financial Statements
for the year ended 31 January 2023


1. STATUTORY INFORMATION

The company's registered number and registered office address can be found on the Company Information page. The Company's principal place of business is 78 Knottingley Road, Pontefract, WF8 2LB.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Fixed assets are initially recorded at cost.

Government grants
Grants received in relation to the Coronavirus Job Retention Scheme and Small Business Fund are accounted for as they fall due and are included within other operating income.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Reg Greenwood (Tyres & Exhausts) Limited (Registered number: 01592639)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company makes employer contributions into the directors' personal pension schemes. Contributions payable to these pension schemes are charged to the profit and loss account in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

Reg Greenwood (Tyres & Exhausts) Limited (Registered number: 01592639)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£ £ £
COST
At 1 February 2022 7,503 118,421 13,492
Additions - - -
At 31 January 2023 7,503 118,421 13,492
DEPRECIATION
At 1 February 2022 7,503 117,734 13,154
Charge for year - 229 338
At 31 January 2023 7,503 117,963 13,492
NET BOOK VALUE
At 31 January 2023 - 458 -
At 31 January 2022 - 687 338

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 February 2022 55,243 6,811 201,470
Additions 27,009 - 27,009
At 31 January 2023 82,252 6,811 228,479
DEPRECIATION
At 1 February 2022 38,043 6,424 182,858
Charge for year 10,752 191 11,510
At 31 January 2023 48,795 6,615 194,368
NET BOOK VALUE
At 31 January 2023 33,457 196 34,111
At 31 January 2022 17,200 387 18,612

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 129,472 169,481
Amounts owed by related undertakings 202,587 187,035
Other debtors - 500
Directors' current accounts - 12,545
Prepayments and accrued income - 41,356
332,059 410,917

Reg Greenwood (Tyres & Exhausts) Limited (Registered number: 01592639)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 232,268 187,016
Amounts owed to related undertakings 53,726 176,864
Corporation tax 9,320 22,575
Social security and other taxes 4,342 4,083
VAT 2,506 17,145
Other creditors 1,855 -
Directors' current accounts 109,904 187,042
Accruals and deferred income 59,210 78,150
473,131 672,875

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
6,370 A Ordinary 10p 637 637
2,450 B Ordinary 10p 245 245
2,450 C Ordinary 10p 245 245
1,127 1,127