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REGISTERED NUMBER: 06573250 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Tyresure Limited

Tyresure Limited (Registered number: 06573250)






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


Tyresure Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr I S Smith
Miss J Reynolds





REGISTERED OFFICE: Unit C
Whiteacres
Cambridge Road
Whetstone
Leicestershire
LE8 6ZG





REGISTERED NUMBER: 06573250 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Tyresure Limited (Registered number: 06573250)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 55,738 68,372
Investments 5 21,739 -
77,477 68,372

CURRENT ASSETS
Stocks 1,101,197 971,820
Debtors 6 2,442,399 3,710,094
Cash at bank 49,232 107,689
3,592,828 4,789,603
CREDITORS
Amounts falling due within one year 7 (1,279,770 ) (2,536,852 )
NET CURRENT ASSETS 2,313,058 2,252,751
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,390,535

2,321,123

CREDITORS
Amounts falling due after more than one
year

8

-

(45,286

)

PROVISIONS FOR LIABILITIES (11,525 ) (8,293 )
NET ASSETS 2,379,010 2,267,544

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,379,008 2,267,542
SHAREHOLDERS' FUNDS 2,379,010 2,267,544

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.

Tyresure Limited (Registered number: 06573250)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mr I S Smith - Director


Tyresure Limited (Registered number: 06573250)

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

1. STATUTORY INFORMATION

Tyresure 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 represents amounts invoiced to customers, net of value added tax, and is recognised at the point of delivery.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on cost, 20% on cost and 15% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete after making due allowance for obsolete and slow moving items. Cost is measured using the weighted average cost formula.

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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Tyresure Limited (Registered number: 06573250)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 62,107 23,667 103,368 46,199 235,341
Additions 490 - 120 628 1,238
At 31 December 2023 62,597 23,667 103,488 46,827 236,579
DEPRECIATION
At 1 January 2023 40,740 17,561 62,949 45,719 166,969
Charge for year 5,901 1,047 6,804 120 13,872
At 31 December 2023 46,641 18,608 69,753 45,839 180,841
NET BOOK VALUE
At 31 December 2023 15,956 5,059 33,735 988 55,738
At 31 December 2022 21,367 6,106 40,419 480 68,372

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 21,739
At 31 December 2023 21,739
NET BOOK VALUE
At 31 December 2023 21,739

Tyresure Limited (Registered number: 06573250)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 755,981 1,751,135
Other debtors 1,686,418 1,958,959
2,442,399 3,710,094

Other debtors includes prepayments and accrued income of £33,151 (2022: £51,628).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 45,286 127,172
Trade creditors 649,705 1,573,316
Amounts owed to group undertakings 122,288 -
Taxation and social security 134,733 58,208
Other creditors 327,758 778,156
1,279,770 2,536,852

Other creditors includes accruals and deferred income of £314,578 (2022: £347,874).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 45,286

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £174,903 (2022: £240,922).

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:

31.12.23 31.12.22
£    £   
Mr I S Smith and Miss J Reynolds
Balance outstanding at start of year 1,456,532 1,383,463
Amounts advanced 66,847 74,275
Amounts repaid - (1,206 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,523,379 1,456,532

The loan was repayable on demand and interest has been charged at the HMRC Official Rate.