IRIS Accounts Production v23.3.0.418 01805384 Board of Directors 1.6.22 31.5.23 31.5.23 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh018053842022-05-31018053842023-05-31018053842022-06-012023-05-31018053842021-05-31018053842021-06-012022-05-31018053842022-05-3101805384ns10:Originalns15:EnglandWales2022-06-012023-05-3101805384ns14:PoundSterlingns10:Original2022-06-012023-05-3101805384ns10:Originalns10:Director12022-06-012023-05-3101805384ns10:Original2022-06-012023-05-3101805384ns10:Original2023-05-3101805384ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3101805384ns10:Originalns10:SmallEntities2022-06-012023-05-3101805384ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3101805384ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3101805384ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3101805384ns10:Originalns10:FullAccounts2022-06-012023-05-3101805384ns10:Originalns10:Director22022-06-012023-05-3101805384ns10:Originalns10:RegisteredOffice2022-06-012023-05-3101805384ns10:Original2022-05-3101805384ns10:Originalns5:CurrentFinancialInstruments2023-05-3101805384ns10:Originalns5:CurrentFinancialInstruments2022-05-3101805384ns10:Originalns5:Non-currentFinancialInstruments2023-05-3101805384ns10:Originalns5:Non-currentFinancialInstruments2022-05-3101805384ns5:ShareCapitalns10:Original2023-05-3101805384ns5:ShareCapitalns10:Original2022-05-3101805384ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3101805384ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3101805384ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-06-012023-05-3101805384ns10:Originalns5:PlantMachinery2022-06-012023-05-3101805384ns10:Originalns5:MotorVehicles2022-06-012023-05-3101805384ns10:Original2021-06-012022-05-3101805384ns10:Originalns5:LandBuildings2022-05-3101805384ns10:Originalns5:PlantMachinery2022-05-3101805384ns10:Originalns5:MotorVehicles2022-05-3101805384ns10:Original2022-05-3101805384ns10:Originalns5:LandBuildings2022-06-012023-05-3101805384ns10:Originalns5:LandBuildings2023-05-3101805384ns10:Originalns5:PlantMachinery2023-05-3101805384ns10:Originalns5:MotorVehicles2023-05-3101805384ns10:Originalns5:LandBuildings2022-05-3101805384ns10:Originalns5:PlantMachinery2022-05-3101805384ns10:Originalns5:MotorVehicles2022-05-3101805384ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3101805384ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31
REGISTERED NUMBER: 01805384 (England and Wales)















Reeves Tyre Centre Limited

Unaudited Financial Statements for the Year Ended 31 May 2023






Reeves Tyre Centre Limited (Registered number: 01805384)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


Reeves Tyre Centre Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: E D Reeve
S Reeve





REGISTERED OFFICE: Spalding Road
Gosberton
Lincolnshire
PE11 4HL





REGISTERED NUMBER: 01805384 (England and Wales)





ACCOUNTANTS: Salway and Wright
32 The Crescent
Spalding
Lincolnshire
PE11 1AF

Reeves Tyre Centre Limited (Registered number: 01805384)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,939 31,358

CURRENT ASSETS
Stocks 31,500 32,500
Debtors 5 85,341 75,020
116,841 107,520
CREDITORS
Amounts falling due within one year 6 102,728 125,934
NET CURRENT ASSETS/(LIABILITIES) 14,113 (18,414 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,052

12,944

CREDITORS
Amounts falling due after more than one
year

7

25,910

-
NET ASSETS 13,142 12,944

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 13,140 12,942
SHAREHOLDERS' FUNDS 13,142 12,944

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Reeves Tyre Centre Limited (Registered number: 01805384)

Balance Sheet - continued
31 May 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 5 November 2023 and were signed on its behalf by:





S Reeve - Director


Reeves Tyre Centre Limited (Registered number: 01805384)

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

1. STATUTORY INFORMATION

Reeves Tyre Centre 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Equipment - 15% 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.

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 NIL (2022 - 3 ).

Reeves Tyre Centre Limited (Registered number: 01805384)

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

4. TANGIBLE FIXED ASSETS
Freehold Motor
property Equipment vehicles Totals
£    £    £    £   
COST
At 1 June 2022 37,837 40,102 26,161 104,100
Disposals - - (4,447 ) (4,447 )
At 31 May 2023 37,837 40,102 21,714 99,653
DEPRECIATION
At 1 June 2022 17,670 35,106 19,966 72,742
Charge for year 810 749 413 1,972
At 31 May 2023 18,480 35,855 20,379 74,714
NET BOOK VALUE
At 31 May 2023 19,357 4,247 1,335 24,939
At 31 May 2022 20,167 4,996 6,195 31,358

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 7,838 7,575
Other debtors 77,503 67,445
85,341 75,020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 53,614 36,071
Hire purchase contracts - 6,283
Trade creditors 35,639 45,166
Taxation and social security 13,475 38,414
102,728 125,934

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 25,910 -

8. DEPRECIATION ON LAND

The land cost £13,212. There has been no depreciation charged on the land as in the view of the directors there has been no reduction in its value.