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REGISTERED NUMBER: 07353874 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 August 2023

for

ELITE TYRE AND AUTOCARE LIMITED

ELITE TYRE AND AUTOCARE LIMITED (REGISTERED NUMBER: 07353874)






Contents of the Financial Statements
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELITE TYRE AND AUTOCARE LIMITED

Company Information
for the year ended 31 August 2023







DIRECTORS: L Higton
Mrs L A Higton





REGISTERED OFFICE: Unit 6 Midland Way
Thornbury
Bristol
BS35 2BS





REGISTERED NUMBER: 07353874 (England and Wales)





ACCOUNTANTS: Mitchell Glanville (Bristol) Limited
c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ

ELITE TYRE AND AUTOCARE LIMITED (REGISTERED NUMBER: 07353874)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,886 35,860

CURRENT ASSETS
Stocks 8,900 8,900
Debtors 5 31,509 32,863
Cash at bank 191,890 194,782
232,299 236,545
CREDITORS
Amounts falling due within one year 6 194,481 181,121
NET CURRENT ASSETS 37,818 55,424
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,704

91,284

CREDITORS
Amounts falling due after more than one year 7 17,500 27,500
NET ASSETS 53,204 63,784

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 53,004 63,584
SHAREHOLDERS' FUNDS 53,204 63,784

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the board the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





L Higton - Director


ELITE TYRE AND AUTOCARE LIMITED (REGISTERED NUMBER: 07353874)

Notes to the Financial Statements
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Elite Tyre and Autocare 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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 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.

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 17 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 4,816 29,317 28,045 10,283 72,461
Additions - - - 4,312 4,312
Disposals - - (4,400 ) - (4,400 )
At 31 August 2023 4,816 29,317 23,645 14,595 72,373
DEPRECIATION
At 1 September 2022 - 22,156 10,106 4,339 36,601
Charge for year - 1,432 3,421 1,599 6,452
Eliminated on disposal - - (3,566 ) - (3,566 )
At 31 August 2023 - 23,588 9,961 5,938 39,487
NET BOOK VALUE
At 31 August 2023 4,816 5,729 13,684 8,657 32,886
At 31 August 2022 4,816 7,161 17,939 5,944 35,860

ELITE TYRE AND AUTOCARE LIMITED (REGISTERED NUMBER: 07353874)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,900 4,355
Other debtors 22,609 28,508
31,509 32,863

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 131,498 116,532
Taxation and social security 28,967 40,176
Other creditors 24,016 14,413
194,481 181,121

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,500 27,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 ORDINARY £1 200 200

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
L Higton
Balance outstanding at start of year 14,149 14,263
Amounts repaid (14,149 ) (114 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 14,149