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REGISTERED NUMBER: 01909743 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Peter Winn Tyres Limited

Peter Winn Tyres Limited (Registered number: 01909743)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Peter Winn Tyres Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs A Winn
A Winn





SECRETARY: Mrs A Winn





REGISTERED OFFICE: 1 Garths End
Pocklington
East Yorkshire
YO42 2HZ





REGISTERED NUMBER: 01909743 (England and Wales)





ACCOUNTANTS: Harris Lacey and Swain
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

Peter Winn Tyres Limited (Registered number: 01909743)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,250 21,250
Tangible assets 5 152,031 171,312
Investment property 6 - 181,225
168,281 373,787

CURRENT ASSETS
Stocks 136,000 124,843
Debtors 7 419,329 439,963
Cash at bank and in hand 42,743 2,883
598,072 567,689
CREDITORS
Amounts falling due within one year 8 617,844 818,222
NET CURRENT LIABILITIES (19,772 ) (250,533 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,509

123,254

CREDITORS
Amounts falling due after more than one
year

9

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES (22,943 ) (26,607 )
NET ASSETS 105,566 66,647

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 95,566 56,647
SHAREHOLDERS' FUNDS 105,566 66,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Peter Winn Tyres Limited (Registered number: 01909743)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





Mrs A Winn - Director


Peter Winn Tyres Limited (Registered number: 01909743)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Peter Winn Tyres 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 five 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.

Website are being amortised evenly over their estimated useful life of three years.

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 - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.


Peter Winn Tyres Limited (Registered number: 01909743)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 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.

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 year was 11 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 25,000 8,000 33,000
AMORTISATION
At 1 January 2023 3,750 8,000 11,750
Charge for year 5,000 - 5,000
At 31 December 2023 8,750 8,000 16,750
NET BOOK VALUE
At 31 December 2023 16,250 - 16,250
At 31 December 2022 21,250 - 21,250

Peter Winn Tyres Limited (Registered number: 01909743)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 31,282 147,543 67,585 267,652 514,062
Additions - 4,350 - - 4,350
At 31 December 2023 31,282 151,893 67,585 267,652 518,412
DEPRECIATION
At 1 January 2023 - 98,705 37,728 206,317 342,750
Charge for year - 5,314 2,983 15,334 23,631
At 31 December 2023 - 104,019 40,711 221,651 366,381
NET BOOK VALUE
At 31 December 2023 31,282 47,874 26,874 46,001 152,031
At 31 December 2022 31,282 48,838 29,857 61,335 171,312

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 181,225
Disposals (181,225 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 181,225

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 249,636 314,863
Other debtors 169,693 125,100
419,329 439,963

Peter Winn Tyres Limited (Registered number: 01909743)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 319,189
Hire purchase contracts - 19,368
Trade creditors 497,601 432,233
Taxation and social security 97,906 33,840
Other creditors 12,337 13,592
617,844 818,222

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,000 30,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mrs A Winn
Balance outstanding at start of year 26,040 41,969
Amounts advanced 68,910 50,071
Amounts repaid (50,000 ) (66,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,950 26,040

A Winn
Balance outstanding at start of year 36,832 251,793
Amounts advanced 118,099 135,039
Amounts repaid (90,312 ) (350,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 64,619 36,832