Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30No description of principal activityfalse2022-07-0178truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05150330 2022-07-01 2023-06-30 05150330 2021-07-01 2022-06-30 05150330 2023-06-30 05150330 2022-06-30 05150330 2021-07-01 05150330 c:Director2 2022-07-01 2023-06-30 05150330 d:PlantMachinery 2022-07-01 2023-06-30 05150330 d:PlantMachinery 2023-06-30 05150330 d:PlantMachinery 2022-06-30 05150330 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05150330 d:MotorVehicles 2022-07-01 2023-06-30 05150330 d:MotorVehicles 2023-06-30 05150330 d:MotorVehicles 2022-06-30 05150330 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05150330 d:FurnitureFittings 2022-07-01 2023-06-30 05150330 d:FurnitureFittings 2023-06-30 05150330 d:FurnitureFittings 2022-06-30 05150330 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05150330 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05150330 d:Goodwill 2023-06-30 05150330 d:Goodwill 2022-06-30 05150330 d:CurrentFinancialInstruments 2023-06-30 05150330 d:CurrentFinancialInstruments 2022-06-30 05150330 d:Non-currentFinancialInstruments 2023-06-30 05150330 d:Non-currentFinancialInstruments 2022-06-30 05150330 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05150330 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05150330 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 05150330 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 05150330 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 05150330 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 05150330 d:ShareCapital 2022-07-01 2023-06-30 05150330 d:ShareCapital 2023-06-30 05150330 d:ShareCapital 2022-06-30 05150330 d:ShareCapital 2021-07-01 05150330 d:CapitalRedemptionReserve 2023-06-30 05150330 d:CapitalRedemptionReserve 2022-06-30 05150330 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 05150330 d:RetainedEarningsAccumulatedLosses 2023-06-30 05150330 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 05150330 d:RetainedEarningsAccumulatedLosses 2022-06-30 05150330 d:RetainedEarningsAccumulatedLosses 2021-07-01 05150330 c:OrdinaryShareClass1 2022-07-01 2023-06-30 05150330 c:OrdinaryShareClass1 2023-06-30 05150330 c:OrdinaryShareClass1 2022-06-30 05150330 c:FRS102 2022-07-01 2023-06-30 05150330 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 05150330 c:FullAccounts 2022-07-01 2023-06-30 05150330 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05150330 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 05150330 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 05150330 2 2022-07-01 2023-06-30 05150330 6 2022-07-01 2023-06-30 05150330 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05150330










DARTFORD TYRES (2000) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
DARTFORD TYRES (2000) LIMITED
REGISTERED NUMBER: 05150330

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,408
33,298

Investments
 6 
488,871
488,871

  
491,279
522,169

Current assets
  

Stocks
  
30,539
31,308

Debtors: amounts falling due within one year
 7 
21,570
18,716

Cash at bank and in hand
 8 
49,695
18,707

  
101,804
68,731

Creditors: amounts falling due within one year
 9 
(134,756)
(125,890)

Net current liabilities
  
 
 
(32,952)
 
 
(57,159)

Total assets less current liabilities
  
458,327
465,010

Creditors: amounts falling due after more than one year
 10 
(378,676)
(403,625)

Provisions for liabilities
  

Deferred tax
 12 
(450)
-

  
 
 
(450)
 
 
-

Net assets
  
79,201
61,385


Capital and reserves
  

Called up share capital 
  
468
700

Capital redemption reserve
  
233
-

Profit and loss account
  
78,500
60,685

  
79,201
61,385


Page 1

 
DARTFORD TYRES (2000) LIMITED
REGISTERED NUMBER: 05150330

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D A Clark
Director

Date: 6 February 2024

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
DARTFORD TYRES (2000) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2022
700
-
60,685
61,385



Profit for the year
-
-
46,940
46,940

Dividends: Equity capital
-
-
(4,000)
(4,000)

Purchase of own shares
-
233
(25,125)
(24,892)

Shares issued during the year
1
-
-
1

Shares redeemed during the year
(233)
-
-
(233)


At 30 June 2023
468
233
78,500
79,201


The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
DARTFORD TYRES (2000) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2021
700
65,263
65,963



Profit for the year
-
1,422
1,422

Dividends: Equity capital
-
(6,000)
(6,000)


At 30 June 2022
700
60,685
61,385


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
DARTFORD TYRES (2000) LIMITED
 

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

1.


GENERAL INFORMATION

The Company is incorporated in England and carries on the business of retail tyre sales and fitting from 34-36 Watling Street, Bexleyheath, Kent, DA6 7QG.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
DARTFORD TYRES (2000) LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
DARTFORD TYRES (2000) LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.11
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
Motor vehicles
-
25%
Fixtures & fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets
Page 7

 
DARTFORD TYRES (2000) LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.17
FINANCIAL INSTRUMENTS (continued)


Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.18

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 7 (2022 - 8).

Page 8

 
DARTFORD TYRES (2000) LIMITED
 

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

4.


INTANGIBLE ASSETS




Goodwill

£



Cost


At 1 July 2022
155,734



At 30 June 2023

155,734



Amortisation


At 1 July 2022
155,734



At 30 June 2023

155,734



Net book value



At 30 June 2023
-



At 30 June 2022
-



Page 9

 
DARTFORD TYRES (2000) LIMITED
 

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

5.


TANGIBLE FIXED ASSETS





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2022
14,620
40,330
6,045
60,995


Disposals
-
(40,330)
-
(40,330)



At 30 June 2023

14,620
-
6,045
20,665



Depreciation


At 1 July 2022
12,044
10,169
5,484
27,697


Charge for the year on owned assets
645
-
84
729


Disposals
-
(10,169)
-
(10,169)



At 30 June 2023

12,689
-
5,568
18,257



Net book value



At 30 June 2023
1,931
-
477
2,408



At 30 June 2022
2,576
30,161
561
33,298


6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
488,871



At 30 June 2023
488,871




Page 10

 
DARTFORD TYRES (2000) LIMITED
 

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

7.


DEBTORS

2023
2022
£
£


Trade debtors
7,523
4,364

Amounts owed by group undertakings
5,446
-

Other debtors
-
2,903

Prepayments and accrued income
8,601
11,449

21,570
18,716



8.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
49,695
18,707



9.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank loans
17,665
18,000

Trade creditors
29,765
35,000

Corporation tax
20,578
-

Other taxation and social security
6,474
11,323

Obligations under finance lease and hire purchase contracts
-
4,141

Other creditors
27,647
53,723

Accruals and deferred income
32,627
3,703

134,756
125,890



10.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
342,576
328,455

Net obligations under finance leases and hire purchase contracts
-
20,170

Other creditors
36,100
55,000

378,676
403,625


Page 11

 
DARTFORD TYRES (2000) LIMITED
 

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

11.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
17,665
18,000

Amounts falling due 1-2 years

Bank loans
342,576
328,455



360,241
346,455



12.


DEFERRED TAXATION




2023


£






Charged to profit or loss
(450)



At end of year
(450)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(450)
-


13.


SHARE CAPITAL

2023
2022
£
£
Authorised



700 (2022 - 700) Ordinary shares of £1.00 each
700
700

Allotted, called up and fully paid



468 (2022 - 700) Ordinary shares of £1.00 each
468
700


Page 12

 
DARTFORD TYRES (2000) LIMITED
 

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

14.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,158 (2022 - £1,719). Contributions totalling £nil (2022 - £nil) were payable to the fund at the balance sheet date and are included in creditors. 


Page 13