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REGISTERED NUMBER: 11829125 (England and Wales)
















































Financial Statements

for the Year Ended 30 June 2023

for

Melksham Tyre Supplies Ltd

Melksham Tyre Supplies Ltd (Registered number: 11829125)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Melksham Tyre Supplies Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: J A Love
Mrs E L Love





REGISTERED OFFICE: The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR





REGISTERED NUMBER: 11829125 (England and Wales)





ACCOUNTANTS: Mander Duffill
Chartered Accountants
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Melksham Tyre Supplies Ltd (Registered number: 11829125)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 168,000 196,000
Tangible assets 5 82,087 94,000
250,087 290,000

CURRENT ASSETS
Stocks 40,401 41,545
Debtors 6 88,774 75,366
Cash at bank 245,932 163,927
375,107 280,838
CREDITORS
Amounts falling due within one year 7 233,494 177,176
NET CURRENT ASSETS 141,613 103,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

391,700

393,662

CREDITORS
Amounts falling due after more than one
year

8

(31,169

)

(33,885

)

PROVISIONS FOR LIABILITIES (19,746 ) (17,860 )
NET ASSETS 340,785 341,917

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 340,685 341,817
SHAREHOLDERS' FUNDS 340,785 341,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Melksham Tyre Supplies Ltd (Registered number: 11829125)

Balance Sheet - continued
30 June 2023


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 17 October 2023 and were signed on its behalf by:




Mrs E L Love - Director



J A Love - Director


Melksham Tyre Supplies Ltd (Registered number: 11829125)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Melksham Tyre Supplies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Stocks
Stock has been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress, cost includes a relevant proportion of overheads according to the stage manufacture or completion.

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.

Melksham Tyre Supplies Ltd (Registered number: 11829125)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 280,000
AMORTISATION
At 1 July 2022 84,000
Charge for year 28,000
At 30 June 2023 112,000
NET BOOK VALUE
At 30 June 2023 168,000
At 30 June 2022 196,000

Melksham Tyre Supplies Ltd (Registered number: 11829125)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 138,467
Additions 12,694
Disposals (1,200 )
At 30 June 2023 149,961
DEPRECIATION
At 1 July 2022 44,467
Charge for year 23,707
Eliminated on disposal (300 )
At 30 June 2023 67,874
NET BOOK VALUE
At 30 June 2023 82,087
At 30 June 2022 94,000

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 53,231
DEPRECIATION
At 1 July 2022 13,308
Charge for year 9,981
At 30 June 2023 23,289
NET BOOK VALUE
At 30 June 2023 29,942
At 30 June 2022 39,923

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 81,529 73,638
Other debtors 7,245 1,728
88,774 75,366

Melksham Tyre Supplies Ltd (Registered number: 11829125)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 133,547 104,498
Other creditors 99,947 72,678
233,494 177,176

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Other creditors 31,169 33,885