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REGISTERED NUMBER: 08303789 (England and Wales)















Williams Tyre & Exhaust Services
(Ipswich) Limited

Unaudited Financial Statements

For The Year Ended 31st January 2023






Williams Tyre & Exhaust Services
(Ipswich) Limited (Registered number: 08303789)

Contents of the Financial Statements
For The Year Ended 31st January 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Williams Tyre & Exhaust Services
(Ipswich) Limited

Company Information
For The Year Ended 31st January 2023







DIRECTOR: D J Guiler





SECRETARY:





REGISTERED OFFICE: Unit 81 Centaur Court
Claydon Business Park
Gt. Blakenham
Ipswich
Suffolk
IP6 0NL





REGISTERED NUMBER: 08303789 (England and Wales)





ACCOUNTANTS: John Phillips & Co Limited
Accountants
Unit 81 Centaur Court
Claydon Business Park
Gt. Blakenham
Ipswich
Suffolk
IP6 0NL

Williams Tyre & Exhaust Services
(Ipswich) Limited (Registered number: 08303789)

Balance Sheet
31st January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 141,102 72,062
Investments 6 - 120,000
141,102 192,062

CURRENT ASSETS
Stocks 21,746 16,860
Debtors 7 201,087 214,258
Cash at bank and in hand 297,083 185,856
519,916 416,974
CREDITORS
Amounts falling due within one year 8 167,729 156,024
NET CURRENT ASSETS 352,187 260,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,289

453,012

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 10 493,279 453,002
SHAREHOLDERS' FUNDS 493,289 453,012

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

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

The director acknowledges his 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.

Williams Tyre & Exhaust Services
(Ipswich) Limited (Registered number: 08303789)

Balance Sheet - continued
31st 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd October 2023 and were signed by:





D J Guiler - Director


Williams Tyre & Exhaust Services
(Ipswich) Limited (Registered number: 08303789)

Notes to the Financial Statements
For The Year Ended 31st January 2023


1. STATUTORY INFORMATION

Williams Tyre & Exhaust Services (Ipswich) Limited 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 2013, is being amortised evenly over its estimated useful life of eight 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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks 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 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.


Williams Tyre & Exhaust Services
(Ipswich) Limited (Registered number: 08303789)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2022
and 31st January 2023 34,000
AMORTISATION
At 1st February 2022
and 31st January 2023 34,000
NET BOOK VALUE
At 31st January 2023 -
At 31st January 2022 -

Williams Tyre & Exhaust Services
(Ipswich) Limited (Registered number: 08303789)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st February 2022 36,120 115,713 1,355 153,188
Additions - 98,620 - 98,620
Disposals - (15,500 ) - (15,500 )
At 31st January 2023 36,120 198,833 1,355 236,308
DEPRECIATION
At 1st February 2022 28,528 52,221 377 81,126
Charge for year 1,518 23,218 195 24,931
Eliminated on disposal - (10,851 ) - (10,851 )
At 31st January 2023 30,046 64,588 572 95,206
NET BOOK VALUE
At 31st January 2023 6,074 134,245 783 141,102
At 31st January 2022 7,592 63,492 978 72,062

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Other Investments - 120,000

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 16,906 14,945
Amounts owed by participating interests 104,198 110,000
Other debtors 95 1,770
Tax - 6,885
Prepayments 10,451 3,721
131,650 137,321

Williams Tyre & Exhaust Services
(Ipswich) Limited (Registered number: 08303789)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2023


7. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 69,437 76,937

Aggregate amounts 201,087 214,258

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 68,877 48,757
Tax (3,335 ) 14,374
Social security and other taxes 6,140 3,562
VAT 13,852 12,379
Other creditors 1,273 209
Directors' loan accounts 64,776 58,580
Accrued expenses 16,146 18,163
167,729 156,024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary £1 10 10

10. RESERVES
Retained
earnings
£   

At 1st February 2022 453,002
Profit for the year 42,277
Dividends (2,000 )
At 31st January 2023 493,279