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REGISTERED NUMBER: 05168803 (England and Wales)












Financial Statements

for the Year Ended 31 July 2023

for

T P Tyre & Exhaust Limited

T P Tyre & Exhaust Limited (Registered number: 05168803)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T P Tyre & Exhaust Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: A Poole
A J Poole





SECRETARY: Mrs M Poole





REGISTERED OFFICE: John Lee Fold
Middleton
Manchester
M24 2LR





REGISTERED NUMBER: 05168803 (England and Wales)





ACCOUNTANTS: Archwood Accountants
Archwood House
46-48 Long Street
Middleton
Manchester
M24 6UQ

T P Tyre & Exhaust Limited (Registered number: 05168803)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,350 16,466

CURRENT ASSETS
Stocks 5 45,000 28,840
Debtors 6 8,027 5,878
Cash at bank and in hand 145,927 153,666
198,954 188,384
CREDITORS
Amounts falling due within one year 7 82,949 67,565
NET CURRENT ASSETS 116,005 120,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,355

137,285

CREDITORS
Amounts falling due after more than one year 8 (3,984 ) -

PROVISIONS FOR LIABILITIES (6,625 ) (3,856 )
NET ASSETS 132,746 133,429

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 132,744 133,427
132,746 133,429

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 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.

T P Tyre & Exhaust Limited (Registered number: 05168803)

Balance Sheet - continued
31 July 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 12 February 2024 and were signed on its behalf by:





A Poole - Director


T P Tyre & Exhaust Limited (Registered number: 05168803)

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

1. STATUTORY INFORMATION

T P Tyre & Exhaust 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% 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.

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.

T P Tyre & Exhaust Limited (Registered number: 05168803)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2022 13,300 58,333 71,633
Additions 2,750 30,750 33,500
Disposals - (44,540 ) (44,540 )
At 31 July 2023 16,050 44,543 60,593
DEPRECIATION
At 1 August 2022 11,601 43,566 55,167
Charge for year 667 7,856 8,523
Eliminated on disposal - (30,447 ) (30,447 )
At 31 July 2023 12,268 20,975 33,243
NET BOOK VALUE
At 31 July 2023 3,782 23,568 27,350
At 31 July 2022 1,699 14,767 16,466

T P Tyre & Exhaust Limited (Registered number: 05168803)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 30,750
At 31 July 2023 30,750
DEPRECIATION
Charge for year 7,687
At 31 July 2023 7,687
NET BOOK VALUE
At 31 July 2023 23,063

5. STOCKS
31.7.23 31.7.22
£    £   
Stocks 45,000 28,840

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 8,027 5,878

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 3,415 -
Trade creditors 53,024 31,811
Tax 17,826 27,393
Social security and other taxes 5,166 5,215
Pension creditor 305 90
Directors' current accounts 813 656
Accrued expenses 2,400 2,400
82,949 67,565

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 3,984 -

T P Tyre & Exhaust Limited (Registered number: 05168803)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts 7,399 -