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REGISTERED NUMBER: 14177985 (England and Wales)















Unaudited Financial Statements

for the Period 16 June 2022 to 30 September 2023

for

Eastbourne Tyres Auto Centre Limited

Eastbourne Tyres Auto Centre Limited (Registered number: 14177985)

Contents of the Financial Statements
for the Period 16 June 2022 to 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Eastbourne Tyres Auto Centre Limited

Company Information
for the Period 16 June 2022 to 30 September 2023







DIRECTORS: Mr M D Price
Mrs S L Price





REGISTERED OFFICE: Stanstead Road
Eastbourne
East Sussex
BN22 8LG





REGISTERED NUMBER: 14177985 (England and Wales)





ACCOUNTANTS: SLP Advisory Limited
126 Wish Hill
Eastbourne
East Sussex
BN20 9HL

Eastbourne Tyres Auto Centre Limited (Registered number: 14177985)

Balance Sheet
30 September 2023

Notes £    £   
FIXED ASSETS
Intangible assets 4 72,000
Tangible assets 5 33,260
105,260

CURRENT ASSETS
Stocks 12,288
Debtors 6 115,298
Cash at bank and in hand 35,557
163,143
CREDITORS
Amounts falling due within one year 7 213,712
NET CURRENT LIABILITIES (50,569 )
TOTAL ASSETS LESS CURRENT LIABILITIES 54,691

PROVISIONS FOR LIABILITIES 6,320
NET ASSETS 48,371

CAPITAL AND RESERVES
Called up share capital 8 100
Retained earnings 48,271
SHAREHOLDERS' FUNDS 48,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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.

Eastbourne Tyres Auto Centre Limited (Registered number: 14177985)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2024 and were signed on its behalf by:




Mr M D Price - Director



Mrs S L Price - Director


Eastbourne Tyres Auto Centre Limited (Registered number: 14177985)

Notes to the Financial Statements
for the Period 16 June 2022 to 30 September 2023


1. STATUTORY INFORMATION

Eastbourne Tyres Auto Centre 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - straight line over 3 years

Tangible fixed assets are included at cost less depreciation and impairment.

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

Eastbourne Tyres Auto Centre Limited (Registered number: 14177985)

Notes to the Financial Statements - continued
for the Period 16 June 2022 to 30 September 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year\, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
- at fair value with changes recognised in the Profit and loss account if the shares are publicly traded or their fair value can otherwise be measured reliably;
- at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Eastbourne Tyres Auto Centre Limited (Registered number: 14177985)

Notes to the Financial Statements - continued
for the Period 16 June 2022 to 30 September 2023


2. ACCOUNTING POLICIES - continued
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 period 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.

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 period was 7 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 80,000
At 30 September 2023 80,000
AMORTISATION
Charge for period 8,000
At 30 September 2023 8,000
NET BOOK VALUE
At 30 September 2023 72,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
Additions 33,300 2,275 835 36,410
At 30 September 2023 33,300 2,275 835 36,410
DEPRECIATION
Charge for period 2,967 113 70 3,150
At 30 September 2023 2,967 113 70 3,150
NET BOOK VALUE
At 30 September 2023 30,333 2,162 765 33,260

Eastbourne Tyres Auto Centre Limited (Registered number: 14177985)

Notes to the Financial Statements - continued
for the Period 16 June 2022 to 30 September 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 9,780
Other debtors 105,518
115,298

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 90,844
Taxation and social security 43,338
Other creditors 79,530
213,712

8. CALLED UP SHARE CAPITAL

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

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

9. PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £771 were payable to the fund at the balance sheet date and are included in creditors.