ROSS TYRES LIMITED

Company Registration Number:
05206606 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2023

Period of accounts

Start date: 01 September 2022

End date: 31 August 2023

ROSS TYRES LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2023

Balance sheet
Notes

ROSS TYRES LIMITED

Balance sheet

As at 31 August 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 53,404 95,328
Total fixed assets: 53,404 95,328
Current assets
Stocks: 427,122 442,689
Debtors:   342,444 241,089
Cash at bank and in hand: 42,488 343,631
Total current assets: 812,054 1,027,409
Creditors: amounts falling due within one year: 4 (445,418) (496,603)
Net current assets (liabilities): 366,636 530,806
Total assets less current liabilities: 420,040 626,134
Creditors: amounts falling due after more than one year: 5 (34,764) (121,241)
Total net assets (liabilities): 385,276 504,893
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 385,176 504,793
Shareholders funds: 385,276 504,893

The notes form part of these financial statements

ROSS TYRES LIMITED

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 April 2024
and signed on behalf of the board by:

Name: Vladyslav VASYLYEV
Status: Director

The notes form part of these financial statements

ROSS TYRES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Tangible fixed assets and depreciation policy

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.Short Leasehold Properties straight line 10%Plant and Machinery straight line 25% Fixtures and Fittings straight line 25% Equipment straight line 25%Motor Cars straight line 25%

Other accounting policies

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based no the estimated selling price less any estimated completion or selling costs.When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

ROSS TYRES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

2. Employees

2023 2022
Average number of employees during the period 10 11

ROSS TYRES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Tangible Assets

Total
Cost £
At 01 September 2022 348,497
Additions 20,163
Disposals (67,620)
At 31 August 2023 301,040
Depreciation
At 01 September 2022 253,169
Charge for year 37,159
On disposals (42,692)
At 31 August 2023 247,636
Net book value
At 31 August 2023 53,404
At 31 August 2022 95,328

ROSS TYRES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Creditors: amounts falling due within one year note

£445,418

ROSS TYRES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Creditors: amounts falling due after more than one year note

£34,764

ROSS TYRES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

6. Related party transactions

The company was under the control of Messrs V Vasylyev and V Sydorenko by virture of their equal shareholding throughout the current and previous year. Both Messers Vasylyev and Sydorenko are managing directors.Included increditors above is the balance of £17,615 CR (2022 - £9,632) owed by the company to the directors as at 31 August 2023.No other transactions with related parties were undertaken such us are required to be disclosed under Financial Reporting Standard (FRS102).