Registered number
08335032
Mobile Tyre Professionals Limited
Filleted Accounts
31 October 2023
Mobile Tyre Professionals Limited
Registered number: 08335032
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 44,695 58,180
Current assets
Stocks 38,295 51,142
Debtors 4 93,499 91,048
Cash at bank and in hand 64,210 57,632
196,004 199,822
Creditors: amounts falling due within one year 5 (78,761) (103,884)
Net current assets 117,243 95,938
Total assets less current liabilities 161,938 154,118
Creditors: amounts falling due after more than one year 6 (18,497) (20,043)
Provisions for liabilities (5,532) (11,054)
Net assets 137,909 123,021
Capital and reserves
Called up share capital 100 100
Profit and loss account 137,809 122,921
Shareholder's funds 137,909 123,021
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Terence Paul Williams
Director
Approved by the board on 8 March 2024
Mobile Tyre Professionals Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 29,015 107,820 136,835
Additions 1,989 19,000 20,989
Disposals - (56,293) (56,293)
At 31 October 2023 31,004 70,527 101,531
Depreciation
At 1 November 2022 23,100 55,555 78,655
Charge for the year 1,581 9,094 10,675
On disposals - (32,494) (32,494)
At 31 October 2023 24,681 32,155 56,836
Net book value
At 31 October 2023 6,323 38,372 44,695
At 31 October 2022 5,915 52,265 58,180
4 Debtors 2023 2022
£ £
Trade debtors 93,136 90,685
Other debtors 363 363
93,499 91,048
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 26,559 90,006
Taxation and social security costs 52,202 13,878
78,761 103,884
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 18,497 20,043
7 Other information
Mobile Tyre Professionals Limited is a private company limited by shares and incorporated in England. Its registered office is:
11Lynx Crescent
Weston-Super-Mare
BS24 9DJ
Mobile Tyre Professionals Limited 08335032 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts October 2023 release 2 Terence Paul Williams No description of principal activity 08335032 2021-11-01 2022-10-31 08335032 core:WithinOneYear 2022-10-31 08335032 core:AfterOneYear 2022-10-31 08335032 core:ShareCapital 2022-10-31 08335032 core:RetainedEarningsAccumulatedLosses 2022-10-31 08335032 2022-11-01 2023-10-31 08335032 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08335032 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 08335032 bus:Director40 2022-11-01 2023-10-31 08335032 1 2022-11-01 2023-10-31 08335032 2 2022-11-01 2023-10-31 08335032 core:PlantMachinery 2022-11-01 2023-10-31 08335032 core:Vehicles 2022-11-01 2023-10-31 08335032 countries:England 2022-11-01 2023-10-31 08335032 bus:FRS102 2022-11-01 2023-10-31 08335032 bus:FullAccounts 2022-11-01 2023-10-31 08335032 2023-10-31 08335032 core:WithinOneYear 2023-10-31 08335032 core:AfterOneYear 2023-10-31 08335032 core:ShareCapital 2023-10-31 08335032 core:RetainedEarningsAccumulatedLosses 2023-10-31 08335032 core:PlantMachinery 2023-10-31 08335032 core:Vehicles 2023-10-31 08335032 2022-10-31 08335032 core:PlantMachinery 2022-10-31 08335032 core:Vehicles 2022-10-31 iso4217:GBP xbrli:pure