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REGISTERED NUMBER: 04486928 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

P.A. RISK COMMERCIAL TYRE SERVICES LTD

P.A. RISK COMMERCIAL TYRE SERVICES LTD (REGISTERED NUMBER: 04486928)






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


P.A. RISK COMMERCIAL TYRE SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: P A Risk





SECRETARY: C Risk





REGISTERED OFFICE: 12 Station Court
Station Approach
Wickford
Essex
SS11 7AT





REGISTERED NUMBER: 04486928 (England and Wales)





ACCOUNTANTS: Connah Goldsworthy
Chartered Certified Accountants
12 Station Court
Station Approach
Wickford
Essex
SS11 7AT

P.A. RISK COMMERCIAL TYRE SERVICES LTD (REGISTERED NUMBER: 04486928)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 20,615 1,493
20,615 1,493

CURRENT ASSETS
Stocks 3,200 1,500
Debtors 6 13,206 12,620
Cash at bank 2,841 8,960
19,247 23,080
CREDITORS
Amounts falling due within one year 7 22,273 20,047
NET CURRENT (LIABILITIES)/ASSETS (3,026 ) 3,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,589

4,526

CREDITORS
Amounts falling due after more than one
year

8

20,736

7,400
NET LIABILITIES (3,147 ) (2,874 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (3,247 ) (2,974 )
SHAREHOLDERS' FUNDS (3,147 ) (2,874 )

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 March 2024 and were signed by:





P A Risk - Director


P.A. RISK COMMERCIAL TYRE SERVICES LTD (REGISTERED NUMBER: 04486928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

P.A. Risk Commercial Tyre Services Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office & computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

P.A. RISK COMMERCIAL TYRE SERVICES LTD (REGISTERED NUMBER: 04486928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 7,500
AMORTISATION
At 1 August 2022
and 31 July 2023 7,500
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Office &
Plant and Motor computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 6,199 15,385 1,434 23,018
Additions - 24,997 - 24,997
Disposals - (15,385 ) (1,434 ) (16,819 )
At 31 July 2023 6,199 24,997 - 31,196
DEPRECIATION
At 1 August 2022 5,932 14,159 1,434 21,525
Charge for year 66 4,583 - 4,649
Eliminated on disposal - (14,159 ) (1,434 ) (15,593 )
At 31 July 2023 5,998 4,583 - 10,581
NET BOOK VALUE
At 31 July 2023 201 20,414 - 20,615
At 31 July 2022 267 1,226 - 1,493

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
Additions 24,997
At 31 July 2023 24,997
DEPRECIATION
Charge for year 4,583
At 31 July 2023 4,583
NET BOOK VALUE
At 31 July 2023 20,414

P.A. RISK COMMERCIAL TYRE SERVICES LTD (REGISTERED NUMBER: 04486928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 11,925 11,189
Other debtors - 550
Prepayments and accrued income - 881
Prepayments 1,281 -
13,206 12,620

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 2,400 2,400
Finance leases 4,019 -
Trade creditors 9,390 10,034
Tax 2,444 3,391
VAT 2,404 2,662
Directors' current accounts 36 10
Accrued expenses 1,580 1,550
22,273 20,047

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans - 2-5 years 5,000 7,400
Finance leases 15,736 -
20,736 7,400

9. CALLED UP SHARE CAPITAL

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

10. RESERVES
Retained
earnings
£   

At 1 August 2022 (2,974 )
Profit for the year 9,127
Dividends (9,400 )
At 31 July 2023 (3,247 )