2022-03-012023-02-282023-02-28false13241881LUX TYRES LTD2023-11-13iso4217:GBPxbrli:pure132418812022-03-01132418812023-02-28132418812022-03-012023-02-28132418812021-03-03132418812022-02-28132418812021-03-032022-02-2813241881bus:SmallEntities2022-03-012023-02-2813241881bus:AuditExempt-NoAccountantsReport2022-03-012023-02-2813241881bus:FullAccounts2022-03-012023-02-2813241881bus:PrivateLimitedCompanyLtd2022-03-012023-02-2813241881core:WithinOneYear2023-02-2813241881core:AfterOneYear2023-02-2813241881core:WithinOneYear2022-02-2813241881core:AfterOneYear2022-02-2813241881core:ShareCapital2023-02-2813241881core:SharePremium2023-02-2813241881core:RevaluationReserve2023-02-2813241881core:OtherReservesSubtotal2023-02-2813241881core:RetainedEarningsAccumulatedLosses2023-02-2813241881core:ShareCapital2022-02-2813241881core:SharePremium2022-02-2813241881core:RevaluationReserve2022-02-2813241881core:OtherReservesSubtotal2022-02-2813241881core:RetainedEarningsAccumulatedLosses2022-02-2813241881core:LandBuildings2023-02-2813241881core:PlantMachinery2023-02-2813241881core:Vehicles2023-02-2813241881core:FurnitureFittings2023-02-2813241881core:OfficeEquipment2023-02-2813241881core:NetGoodwill2023-02-2813241881core:IntangibleAssetsOtherThanGoodwill2023-02-2813241881core:ListedExchangeTraded2023-02-2813241881core:UnlistedNon-exchangeTraded2023-02-2813241881core:LandBuildings2022-02-2813241881core:PlantMachinery2022-02-2813241881core:Vehicles2022-02-2813241881core:FurnitureFittings2022-02-2813241881core:OfficeEquipment2022-02-2813241881core:NetGoodwill2022-02-2813241881core:IntangibleAssetsOtherThanGoodwill2022-02-2813241881core:ListedExchangeTraded2022-02-2813241881core:UnlistedNon-exchangeTraded2022-02-2813241881core:LandBuildings2022-03-012023-02-2813241881core:PlantMachinery2022-03-012023-02-2813241881core:Vehicles2022-03-012023-02-2813241881core:FurnitureFittings2022-03-012023-02-2813241881core:OfficeEquipment2022-03-012023-02-2813241881core:NetGoodwill2022-03-012023-02-2813241881core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2813241881core:ListedExchangeTraded2022-03-012023-02-2813241881core:UnlistedNon-exchangeTraded2022-03-012023-02-2813241881core:MoreThanFiveYears2022-03-012023-02-2813241881core:Non-currentFinancialInstruments2023-02-2813241881core:Non-currentFinancialInstruments2022-02-2813241881dpl:CostSales2022-03-012023-02-2813241881dpl:DistributionCosts2022-03-012023-02-2813241881core:LandBuildings2022-03-012023-02-2813241881core:PlantMachinery2022-03-012023-02-2813241881core:Vehicles2022-03-012023-02-2813241881core:FurnitureFittings2022-03-012023-02-2813241881core:OfficeEquipment2022-03-012023-02-2813241881dpl:AdministrativeExpenses2022-03-012023-02-2813241881core:NetGoodwill2022-03-012023-02-2813241881core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2813241881dpl:GroupUndertakings2022-03-012023-02-2813241881dpl:ParticipatingInterests2022-03-012023-02-2813241881dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-2813241881core:ListedExchangeTraded2022-03-012023-02-2813241881dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-2813241881core:UnlistedNon-exchangeTraded2022-03-012023-02-2813241881dpl:CostSales2021-03-032022-02-2813241881dpl:DistributionCosts2021-03-032022-02-2813241881core:LandBuildings2021-03-032022-02-2813241881core:PlantMachinery2021-03-032022-02-2813241881core:Vehicles2021-03-032022-02-2813241881core:FurnitureFittings2021-03-032022-02-2813241881core:OfficeEquipment2021-03-032022-02-2813241881dpl:AdministrativeExpenses2021-03-032022-02-2813241881core:NetGoodwill2021-03-032022-02-2813241881core:IntangibleAssetsOtherThanGoodwill2021-03-032022-02-2813241881dpl:GroupUndertakings2021-03-032022-02-2813241881dpl:ParticipatingInterests2021-03-032022-02-2813241881dpl:GroupUndertakingscore:ListedExchangeTraded2021-03-032022-02-2813241881core:ListedExchangeTraded2021-03-032022-02-2813241881dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-03-032022-02-2813241881core:UnlistedNon-exchangeTraded2021-03-032022-02-2813241881core:NetGoodwill2023-02-2813241881core:IntangibleAssetsOtherThanGoodwill2023-02-2813241881core:LandBuildings2023-02-2813241881core:PlantMachinery2023-02-2813241881core:Vehicles2023-02-2813241881core:FurnitureFittings2023-02-2813241881core:OfficeEquipment2023-02-2813241881core:AfterOneYear2023-02-2813241881core:WithinOneYear2023-02-2813241881core:ListedExchangeTraded2023-02-2813241881core:UnlistedNon-exchangeTraded2023-02-2813241881core:ShareCapital2023-02-2813241881core:SharePremium2023-02-2813241881core:RevaluationReserve2023-02-2813241881core:OtherReservesSubtotal2023-02-2813241881core:RetainedEarningsAccumulatedLosses2023-02-2813241881core:NetGoodwill2022-02-2813241881core:IntangibleAssetsOtherThanGoodwill2022-02-2813241881core:LandBuildings2022-02-2813241881core:PlantMachinery2022-02-2813241881core:Vehicles2022-02-2813241881core:FurnitureFittings2022-02-2813241881core:OfficeEquipment2022-02-2813241881core:AfterOneYear2022-02-2813241881core:WithinOneYear2022-02-2813241881core:ListedExchange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LUX TYRES LTD

Registered Number
13241881
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

LUX TYRES LTD
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

MIDWOOD, Michael Tyrone Anthony

Registered Address

119 Hopwood Lane
Halifax
HX1 4HB

Registered Number

13241881 (England and Wales)
LUX TYRES LTD
Statement of Financial Position
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets639,3012,800
39,3012,800
Current assets
Stocks77,500-
Debtors88,210-
Cash at bank and on hand8,59640,305
24,30640,305
Creditors amounts falling due within one year9(35,458)(23,972)
Net current assets (liabilities)(11,152)16,333
Total assets less current liabilities28,14919,133
Net assets28,14919,133
Capital and reserves
Called up share capital100100
Profit and loss account28,04919,033
Shareholders' funds28,14919,133
The financial statements were approved and authorised for issue by the Director on 13 November 2023, and are signed on its behalf by:
MIDWOOD, Michael Tyrone Anthony
Director
Registered Company No. 13241881
LUX TYRES LTD
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of the sale and installation of vehicle tyres.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Vehicles5
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
5.Employee information

20232022
Average number of employees during the year22
6.Property, plant and equipment

Vehicles

Total

££
Cost or valuation
At 01 March 223,5003,500
Additions46,50146,501
At 28 February 2350,00150,001
Depreciation and impairment
At 01 March 22700700
Charge for year10,00010,000
At 28 February 2310,70010,700
Net book value
At 28 February 2339,30139,301
At 28 February 222,8002,800
7.Stocks

2023

2022

££
Raw materials and consumables7,500-
Total7,500-
8.Debtors

2023

2022

££
Other debtors8,210-
Total8,210-
9.Creditors within one year

2023

2022

££
Taxation and social security4,1864,186
Other creditors28,27217,286
Accrued liabilities and deferred income3,0002,500
Total35,45823,972