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REGISTERED NUMBER: 08289223 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

TYRE TORQUE LTD

TYRE TORQUE LTD (REGISTERED NUMBER: 08289223)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TYRE TORQUE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Ms S Bartlett
Mr G Ryan
Mr J B Ryan





REGISTERED OFFICE: Unit 3, Moorhurst Road
Conqueror Industrial Estate
St. Leonards On Sea
East Sussex
TN38 9NA





REGISTERED NUMBER: 08289223 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

TYRE TORQUE LTD (REGISTERED NUMBER: 08289223)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,926 20,985

CURRENT ASSETS
Stocks 5 25,681 48,191
Debtors 6 536 536
Cash at bank and in hand 158,963 72,611
185,180 121,338
CREDITORS
Amounts falling due within one year 7 141,489 94,071
NET CURRENT ASSETS 43,691 27,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,617

48,252

CREDITORS
Amounts falling due after more than one year 8 (15,833 ) (25,834 )

PROVISIONS FOR LIABILITIES 10 (4,023 ) (3,844 )
NET ASSETS 45,761 18,574

CAPITAL AND RESERVES
Called up share capital 11 75 75
Retained earnings 45,686 18,499
SHAREHOLDERS' FUNDS 45,761 18,574

TYRE TORQUE LTD (REGISTERED NUMBER: 08289223)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





Ms S Bartlett - Director


TYRE TORQUE LTD (REGISTERED NUMBER: 08289223)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Tyre Torque 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 - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

TAXATION
Taxation for the year 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 statement of financial position date.

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 14 (2022 - 12 ) .

TYRE TORQUE LTD (REGISTERED NUMBER: 08289223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 December 2022 30,533 3,982 9,174 4,083 47,772
Additions 5,670 - - 282 5,952
At 30 November 2023 36,203 3,982 9,174 4,365 53,724
Depreciation
At 1 December 2022 14,908 2,010 7,038 2,831 26,787
Charge for year 3,194 493 534 790 5,011
At 30 November 2023 18,102 2,503 7,572 3,621 31,798
Net book value
At 30 November 2023 18,101 1,479 1,602 744 21,926
At 30 November 2022 15,625 1,972 2,136 1,252 20,985

5. STOCKS
30.11.23 30.11.22
£    £   
Stocks 25,681 48,191

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 536 536

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 91,896 63,429
Tax 19,754 6,640
Social security and other taxes 2,568 493
VAT 14,415 10,988
Other creditors - 32
Directors' current accounts 108 41
Accruals and deferred income 2,748 2,448
141,489 94,071

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 9) 15,833 25,834

TYRE TORQUE LTD (REGISTERED NUMBER: 08289223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


9. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 15,833 20,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,834

10. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 4,023 3,844

Deferred
tax
£   
Balance at 1 December 2022 3,844
Charge to Statement of Income and Retained Earnings during year 179
Balance at 30 November 2023 4,023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
25 Ordinary £1 25 25
25 Ordinary A £1 25 25
25 Ordinary B £1 25 25
75 75