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REGISTERED NUMBER: 04072933 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

Lydney Tyre & Auto Services Limited

Lydney Tyre & Auto Services Limited (Registered number: 04072933)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lydney Tyre & Auto Services Limited

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: C Webb
A George





SECRETARY: Mrs A Meredith





REGISTERED OFFICE: Unit 9
The Marina
Harbour Road
Lydney
Gloucestershire
GL15 5ET





REGISTERED NUMBER: 04072933 (England and Wales)





ACCOUNTANTS: Knights
21 Highnam Business Centre
Highnam
Gloucestershire
GL2 8DN

Lydney Tyre & Auto Services Limited (Registered number: 04072933)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,407 32,333

CURRENT ASSETS
Stocks 13,871 10,196
Debtors 5 21,808 10,221
Cash at bank and in hand 157,112 160,451
192,791 180,868
CREDITORS
Amounts falling due within one year 6 127,727 128,970
NET CURRENT ASSETS 65,064 51,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,471

84,231

CREDITORS
Amounts falling due after more than one
year

7

(29,167

)

(39,167

)

PROVISIONS FOR LIABILITIES 8 (6,824 ) (3,030 )
NET ASSETS 65,480 42,034

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,380 41,934
SHAREHOLDERS' FUNDS 65,480 42,034

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

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

Lydney Tyre & Auto Services Limited (Registered number: 04072933)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:




C Webb - Director



A George - Director


Lydney Tyre & Auto Services Limited (Registered number: 04072933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Lydney Tyre & Auto Services 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 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 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.

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.

Lydney Tyre & Auto Services Limited (Registered number: 04072933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2022 80,075 7,582 28,003 115,660
Additions 6,450 - 3,150 9,600
At 30 September 2023 86,525 7,582 31,153 125,260
DEPRECIATION
At 1 October 2022 56,778 5,319 21,230 83,327
Charge for year 3,494 339 1,693 5,526
At 30 September 2023 60,272 5,658 22,923 88,853
NET BOOK VALUE
At 30 September 2023 26,253 1,924 8,230 36,407
At 30 September 2022 23,297 2,263 6,773 32,333

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,808 10,068
Other debtors - 153
21,808 10,221

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 61,092 54,578
Taxation and social security 36,371 29,603
Other creditors 30,264 44,789
127,727 128,970

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 29,167 39,167

Other creditors relate to amounts owed to the Directors loan accounts.

Lydney Tyre & Auto Services Limited (Registered number: 04072933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,824 3,030

Deferred
tax
£   
Balance at 1 October 2022 3,030
Accelerated capital allowances 3,794
Balance at 30 September 2023 6,824