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REGISTERED NUMBER: 04970402 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

2 U TYRES LIMITED

2 U TYRES LIMITED (REGISTERED NUMBER: 04970402)






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


2 U TYRES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S R CLARK
B P LANDI FCCA





REGISTERED OFFICE: 62 STAKES ROAD
PURBROOK
WATERLOOVILLE
Hampshire
PO7 5NT





REGISTERED NUMBER: 04970402 (England and Wales)






2 U TYRES LIMITED (REGISTERED NUMBER: 04970402)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 41,007 45,674
41,007 45,674

CURRENT ASSETS
Stocks 95,860 73,000
Debtors 6 101,457 186,502
Cash at bank and in hand 467,641 300,512
664,958 560,014
CREDITORS
Amounts falling due within one year 7 416,216 352,881
NET CURRENT ASSETS 248,742 207,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,749

252,807

CAPITAL AND RESERVES
Called up share capital 1,250 1,250
Share premium 199,750 199,750
Retained earnings 88,749 51,807
SHAREHOLDERS' FUNDS 289,749 252,807

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.

2 U TYRES LIMITED (REGISTERED NUMBER: 04970402)

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 23 September 2024 and were signed on its behalf by:




B P LANDI FCCA - Director



S R CLARK - Director


2 U TYRES LIMITED (REGISTERED NUMBER: 04970402)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

2 U 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 2006, 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 - 20% on cost
Motor vehicles - 25% on cost
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.

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 18 (2022 - 19 ) .

2 U TYRES LIMITED (REGISTERED NUMBER: 04970402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 220,000
AMORTISATION
At 1 January 2023
and 31 December 2023 220,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2023 30,121 133,726 7,887
Additions - 10,774 -
At 31 December 2023 30,121 144,500 7,887
DEPRECIATION
At 1 January 2023 30,121 115,545 6,926
Charge for year - 6,097 789
At 31 December 2023 30,121 121,642 7,715
NET BOOK VALUE
At 31 December 2023 - 22,858 172
At 31 December 2022 - 18,181 961

2 U TYRES LIMITED (REGISTERED NUMBER: 04970402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 32,200 16,663 220,597
Additions - - 10,774
At 31 December 2023 32,200 16,663 231,371
DEPRECIATION
At 1 January 2023 7,262 15,069 174,923
Charge for year 7,123 1,432 15,441
At 31 December 2023 14,385 16,501 190,364
NET BOOK VALUE
At 31 December 2023 17,815 162 41,007
At 31 December 2022 24,938 1,594 45,674

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 86,974 104,837
Other debtors 14,483 81,665
101,457 186,502

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 226,575 232,561
Taxation and social security 104,987 70,537
Other creditors 84,654 49,783
416,216 352,881