IRIS Accounts Production v23.2.0.158 06105830 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure061058302022-02-28061058302023-02-28061058302022-03-012023-02-28061058302021-02-28061058302021-03-012022-02-28061058302022-02-2806105830ns16:EnglandWales2022-03-012023-02-2806105830ns15:PoundSterling2022-03-012023-02-2806105830ns11:Director12022-03-012023-02-2806105830ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2806105830ns11:SmallEntities2022-03-012023-02-2806105830ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2806105830ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2806105830ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2806105830ns11:FullAccounts2022-03-012023-02-2806105830ns11:OrdinaryShareClass12022-03-012023-02-2806105830ns11:Director22022-03-012023-02-2806105830ns11:CompanySecretary12022-03-012023-02-2806105830ns11:RegisteredOffice2022-03-012023-02-2806105830ns6:CurrentFinancialInstruments2023-02-2806105830ns6:CurrentFinancialInstruments2022-02-2806105830ns6:ShareCapital2023-02-2806105830ns6:ShareCapital2022-02-2806105830ns6:RetainedEarningsAccumulatedLosses2023-02-2806105830ns6:RetainedEarningsAccumulatedLosses2022-02-2806105830ns6:PlantMachinery2022-03-012023-02-2806105830ns6:ComputerEquipment2022-03-012023-02-2806105830ns6:PlantMachinery2022-02-2806105830ns6:ComputerEquipment2022-02-2806105830ns6:PlantMachinery2023-02-2806105830ns6:ComputerEquipment2023-02-2806105830ns6:PlantMachinery2022-02-2806105830ns6:ComputerEquipment2022-02-2806105830ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2806105830ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2806105830ns11:OrdinaryShareClass12023-02-28
REGISTERED NUMBER: 06105830 (England and Wales)















CALMAC TYRES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






CALMAC TYRES LIMITED (REGISTERED NUMBER: 06105830)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CALMAC TYRES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr M A O'Callaghan
Mrs C O'Callaghan





SECRETARY: Mrs C O'Callaghan





REGISTERED OFFICE: 15 High Street
Brackley
Northamptonshire
NN13 7DH





REGISTERED NUMBER: 06105830 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

CALMAC TYRES LIMITED (REGISTERED NUMBER: 06105830)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,664 7,302

CURRENT ASSETS
Stocks 2,021 6,188
Debtors 5 158,585 149,009
Cash at bank 11,342 10,094
171,948 165,291
CREDITORS
Amounts falling due within one year 6 139,478 130,305
NET CURRENT ASSETS 32,470 34,986
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,134

42,288

PROVISIONS FOR LIABILITIES 1,444 1,130
NET ASSETS 39,690 41,158

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 39,688 41,156
SHAREHOLDERS' FUNDS 39,690 41,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

CALMAC TYRES LIMITED (REGISTERED NUMBER: 06105830)

BALANCE SHEET - continued
28 FEBRUARY 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 27 November 2023 and were signed on its behalf by:





Mr M A O'Callaghan - Director


CALMAC TYRES LIMITED (REGISTERED NUMBER: 06105830)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Calmac Tyres 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from the service and maintenance of vehicles is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Sale of vehicle parts
Turnover from the sale of vehicle parts is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually once the parts are fitted to the vehicles.

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 cost
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


CALMAC TYRES LIMITED (REGISTERED NUMBER: 06105830)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
Deferred taxation
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 March 2022 94,691 12,514 107,205
Additions 5,090 500 5,590
At 28 February 2023 99,781 13,014 112,795
DEPRECIATION
At 1 March 2022 93,563 6,340 99,903
Charge for year 1,383 2,845 4,228
At 28 February 2023 94,946 9,185 104,131
NET BOOK VALUE
At 28 February 2023 4,835 3,829 8,664
At 28 February 2022 1,128 6,174 7,302

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 147,000 137,177
Other debtors 452 806
Prepayments and accrued income 11,133 11,026
158,585 149,009

CALMAC TYRES LIMITED (REGISTERED NUMBER: 06105830)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 84,260 69,040
Tax 6,415 209
Social security and other taxes 5,991 6,533
VAT 12,784 11,129
Other creditors 7,398 2,821
Directors' current accounts 16,397 34,108
Accrued expenses 6,233 6,465
139,478 130,305

7. SECURED DEBTS

On the 4th July 2016, National Westminster Bank PLC, registered a Floating Charge that covers any property or undertaking of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2