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Registered number: 12914268
S & N Tyres Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12914268
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,244 22,652
16,244 22,652
CURRENT ASSETS
Debtors 5 3,461 2,120
Cash at bank and in hand 16,735 14,657
20,196 16,777
Creditors: Amounts Falling Due Within One Year 6 (34,823 ) (48,544 )
NET CURRENT ASSETS (LIABILITIES) (14,627 ) (31,767 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,617 (9,115 )
NET ASSETS/(LIABILITIES) 1,617 (9,115 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 1,616 (9,116 )
SHAREHOLDERS' FUNDS 1,617 (9,115)
Page 1
Page 2
For the year ending 30 September 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr PAUL BARKER
Director
17/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
S & N Tyres Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12914268 . The registered office is 1 Stephenson Way, Crawley, RH10 1TN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Computer Equipment 33% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2022 7,460 21,000 1,077 29,537
Additions 150 296 774 1,220
As at 30 September 2023 7,610 21,296 1,851 30,757
Depreciation
As at 1 October 2022 808 5,729 348 6,885
Provided during the period 1,896 5,318 414 7,628
As at 30 September 2023 2,704 11,047 762 14,513
Net Book Value
As at 30 September 2023 4,906 10,249 1,089 16,244
As at 1 October 2022 6,652 15,271 729 22,652
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,461 2,120
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 7,904 28,120
Other taxes and social security 1,339 288
VAT 5,903 9,743
Accruals and deferred income 5,700 850
Directors' loan accounts 13,977 9,543
34,823 48,544
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4