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Unaudited Financial Statements for the Year Ended 31 July 2023

for

Britten Tyres Limited

Britten Tyres Limited (Registered number: 02715733)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Britten Tyres Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: P A Scarlett





REGISTERED OFFICE: Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR





REGISTERED NUMBER: 02715733 (England and Wales)





ACCOUNTANTS: Peter Upton
Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR

Britten Tyres Limited (Registered number: 02715733)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,379 1,924

CURRENT ASSETS
Stocks 1,600 2,293
Debtors 5 10,966 14,124
Cash at bank and in hand 61,076 249,112
73,642 265,529
CREDITORS
Amounts falling due within one year 6 90,134 248,798
NET CURRENT (LIABILITIES)/ASSETS (16,492 ) 16,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,113

)

18,655

PROVISIONS FOR LIABILITIES 7 2,732 478
NET (LIABILITIES)/ASSETS (4,845 ) 18,177

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (4,945 ) 18,077
SHAREHOLDERS' FUNDS (4,845 ) 18,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 13 February 2024 and were signed by:





P A Scarlett - Director


Britten Tyres Limited (Registered number: 02715733)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Britten 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.

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.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. the principal accounting policies adopted are set out below.

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 etc - 33% on cost, 25% on reducing balance and 20% 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.

Financial instruments
The company has financial assets and liabilities of a kind that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at their settlement value.

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.

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.

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 1 (2022 - 2 ) .

Britten Tyres Limited (Registered number: 02715733)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures Office &
Plant and and Motor sundry
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 19,661 1,683 1,400 1,657 24,401
Additions 2,304 13,879 - - 16,183
At 31 July 2023 21,965 15,562 1,400 1,657 40,584
DEPRECIATION
At 1 August 2022 18,276 1,683 967 1,551 22,477
Charge for year 738 2,776 108 106 3,728
At 31 July 2023 19,014 4,459 1,075 1,657 26,205
NET BOOK VALUE
At 31 July 2023 2,951 11,103 325 - 14,379
At 31 July 2022 1,385 - 433 106 1,924

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 6,014 11,336
Tax 1,629 -
Prepayments 3,323 2,788
10,966 14,124

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 25,825 24,260
Tax - 4,412
Social security and other taxes (15 ) 177
VAT 1,395 2,173
Directors' current accounts 60,878 215,725
Accrued expenses 2,051 2,051
90,134 248,798

7. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 2,732 478

Deferred
tax
£   
Balance at 1 August 2022 478
deferred tax
Balance at 31 July 2023 478

Britten Tyres Limited (Registered number: 02715733)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 ordinary £1 100 100