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TYRESERVICES ABERDEEN LIMITED

Registered Number
SC563397
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2023

TYRESERVICES ABERDEEN LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

BRECHIN, Brian
BRECHIN, Kelly Anne

Company Secretary

LC SECRETARIES LIMITED

Registered Address

36 Angusfield Avenue
Aberdeen
AB15 6AQ

Registered Number

SC563397 (Scotland)
TYRESERVICES ABERDEEN LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets54,5835,683
Tangible assets6134,42727,911
139,01033,594
Current assets
Stocks7199,111192,676
Debtors8186,190190,805
Cash at bank and on hand506,134477,474
891,435860,955
Creditors amounts falling due within one year9(404,874)(387,071)
Net current assets (liabilities)486,561473,884
Total assets less current liabilities625,571507,478
Provisions for liabilities10(23,760)(4,940)
Net assets601,811502,538
Capital and reserves
Called up share capital11
Profit and loss account601,810502,537
Shareholders' funds601,811502,538
The financial statements were approved and authorised for issue by the Board of Directors on 2 November 2023, and are signed on its behalf by:
BRECHIN, Brian
Director
Registered Company No. SC563397
TYRESERVICES ABERDEEN LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. 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.Accounting policies
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:

Reducing balance (%)
Plant and machinery15
Vehicles25
Intangible assets policy
Goodwill amortisation is 10 years
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.
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year1010
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2211,00011,000
At 31 March 2311,00011,000
Amortisation and impairment
At 01 April 225,3175,317
Charge for year1,1001,100
At 31 March 236,4176,417
Net book value
At 31 March 234,5834,583
At 31 March 225,6835,683
6.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 April 22-27,81917,60045,419
Additions7,81146,43466,209120,454
At 31 March 237,81174,25383,809165,873
Depreciation and impairment
At 01 April 22-5,92111,58717,508
Charge for year-3,87410,06413,938
At 31 March 23-9,79521,65131,446
Net book value
At 31 March 237,81164,45862,158134,427
At 31 March 22-21,8986,01327,911
7.Stocks

2023

2022

££
Raw materials and consumables199,111192,676
Total199,111192,676
8.Debtors

2023

2022

££
Trade debtors / trade receivables173,446177,240
Other debtors5551
Prepayments and accrued income12,68913,514
Total186,190190,805
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables241,849218,394
Amounts owed to related parties81,59778,319
Taxation and social security34,59787,386
Other creditors2,4852,970
Accrued liabilities and deferred income44,3462
Total404,874387,071
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)23,7604,940
Total23,7604,940