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REGISTERED NUMBER: 12402567 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Tyre Hub Ltd

Tyre Hub Ltd (Registered number: 12402567)






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


Tyre Hub Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Mrs L C Gore





REGISTERED OFFICE: Military House
24 Castle Street
Chester
Cheshire
CH1 2DS





REGISTERED NUMBER: 12402567 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Tyre Hub Ltd (Registered number: 12402567)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 26,517 38,372

CURRENT ASSETS
Inventories - 34,000
Debtors 5 22,923 39,939
Cash at bank and in hand 118,512 48,220
141,435 122,159
CREDITORS
Amounts falling due within one year 6 101,879 73,682
NET CURRENT ASSETS 39,556 48,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,073

86,849

CREDITORS
Amounts falling due after more than one
year

7

(24,167

)

(34,167

)

PROVISIONS FOR LIABILITIES (5,038 ) (7,291 )
NET ASSETS 36,868 45,391

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 36,768 45,291
SHAREHOLDERS' FUNDS 36,868 45,391

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 director acknowledges her 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.

Tyre Hub Ltd (Registered number: 12402567)

Balance Sheet - continued
31 January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2023 and were signed by:





Mrs L C Gore - Director


Tyre Hub Ltd (Registered number: 12402567)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Tyre Hub 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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Revenue 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.
Plant and machinery etc - 20% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

Tyre Hub Ltd (Registered number: 12402567)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 February 2022 63,223
Additions 987
At 31 January 2023 64,210
DEPRECIATION
At 1 February 2022 24,851
Charge for year 12,842
At 31 January 2023 37,693
NET BOOK VALUE
At 31 January 2023 26,517
At 31 January 2022 38,372

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 16,385 39,000
Other debtors 6,538 939
22,923 39,939

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 55,000 21,012
Taxation and social security 36,815 38,935
Other creditors 64 3,735
101,879 73,682

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 24,167 34,167

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £25,000 were paid to the director .