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REGISTERED NUMBER: 10592812 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Long Lane Tyres Ltd

Long Lane Tyres Ltd (Registered number: 10592812)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Long Lane Tyres Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr Shaun W Parsons





REGISTERED OFFICE: Unit 4 Brookfield Business Park
Brookfield Drive
Liverpool
Merseyside
L9 7AJ





REGISTERED NUMBER: 10592812 (England and Wales)





ACCOUNTANTS: LJS Accounting Services (UK) Ltd
Unit 5, 1st Floor
Connect Business Village
24 Derby Road
Liverpool
Merseyside
L5 9PR

Long Lane Tyres Ltd (Registered number: 10592812)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,113 21,998

CURRENT ASSETS
Debtors 5 18,148 25,774
Cash at bank 2,265 2,847
20,413 28,621
CREDITORS
Amounts falling due within one year 6 9,486 5,485
NET CURRENT ASSETS 10,927 23,136
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,040

45,134

CREDITORS
Amounts falling due after more than one
year

7

(24,051

)

(33,922

)

PROVISIONS FOR LIABILITIES (3,631 ) (4,180 )
NET ASSETS 2,358 7,032

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 2,258 6,932
SHAREHOLDERS' FUNDS 2,358 7,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Long Lane Tyres Ltd (Registered number: 10592812)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:





Mr Shaun W Parsons - Director


Long Lane Tyres Ltd (Registered number: 10592812)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Long Lane Tyres 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.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

Hire purchase and leasing commitments
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 3 (2023 - 3 ) .

Long Lane Tyres Ltd (Registered number: 10592812)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 9,500 33,000 110 42,610
Additions 1,895 - - 1,895
At 31 January 2024 11,395 33,000 110 44,505
DEPRECIATION
At 1 February 2023 6,387 14,141 84 20,612
Charge for year 1,002 3,772 6 4,780
At 31 January 2024 7,389 17,913 90 25,392
NET BOOK VALUE
At 31 January 2024 4,006 15,087 20 19,113
At 31 January 2023 3,113 18,859 26 21,998

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Amounts owed by group undertakings 7,000 7,000
Other debtors 11,148 18,774
18,148 25,774

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Taxation and social security 7,331 3,456
Other creditors 2,155 2,029
9,486 5,485

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 24,051 33,922

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

Long Lane Tyres Ltd (Registered number: 10592812)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. RESERVES
Retained
earnings
£   

At 1 February 2023 6,932
Profit for the year 25,326
Dividends (30,000 )
At 31 January 2024 2,258