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REGISTERED NUMBER: 12402567 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Tyre Hub Ltd

Tyre Hub Ltd (Registered number: 12402567)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tyre Hub Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mrs L C Gore





REGISTERED OFFICE: Military House
24 Castle Street
Chester
Cheshire
CH1 2DS





REGISTERED NUMBER: 12402567 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Tyre Hub Ltd (Registered number: 12402567)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 89,420 26,517

CURRENT ASSETS
Debtors 5 36,487 22,923
Cash at bank and in hand 33,930 118,512
70,417 141,435
CREDITORS
Amounts falling due within one year 6 122,968 101,879
NET CURRENT (LIABILITIES)/ASSETS (52,551 ) 39,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,869

66,073

CREDITORS
Amounts falling due after more than one
year

7

(19,913

)

(24,167

)

PROVISIONS FOR LIABILITIES (4,249 ) (5,038 )
NET ASSETS 12,707 36,868

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12,607 36,768
SHAREHOLDERS' FUNDS 12,707 36,868

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Tyre Hub Ltd (Registered number: 12402567)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 31 August 2024 and were signed by:





Mrs L C Gore - Director


Tyre Hub Ltd (Registered number: 12402567)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Tyre Hub 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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Revenue 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 - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

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 13 (2023 - 12 ) .

Tyre Hub Ltd (Registered number: 12402567)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 20,487 41,533 2,190 64,210
Additions 68,495 - - 68,495
At 31 January 2024 88,982 41,533 2,190 132,705
DEPRECIATION
At 1 February 2023 11,897 24,920 876 37,693
Charge for year 2,006 3,323 263 5,592
At 31 January 2024 13,903 28,243 1,139 43,285
NET BOOK VALUE
At 31 January 2024 75,079 13,290 1,051 89,420
At 31 January 2023 8,590 16,613 1,314 26,517

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 18,975 16,385
Other debtors 17,512 6,538
36,487 22,923

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Finance leases 33,528 -
Trade creditors 45,000 55,000
Taxation and social security 34,351 36,815
Other creditors 89 64
122,968 101,879

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 14,327 24,167
Finance leases 5,586 -
19,913 24,167

Tyre Hub Ltd (Registered number: 12402567)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Finance leases 39,114 -

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £56,300 (2023 - £25,000) were paid to the director .