Silverfin false false 30/04/2024 01/05/2023 30/04/2024 J Thornton 17/02/2015 J A Thornton 17/02/2015 02 October 2024 The principal activity of the company during the financial year was retailing and fitting tyres, exhausts and other motoring accessories. 09443944 2024-04-30 09443944 bus:Director1 2024-04-30 09443944 bus:Director2 2024-04-30 09443944 2023-04-30 09443944 core:CurrentFinancialInstruments 2024-04-30 09443944 core:CurrentFinancialInstruments 2023-04-30 09443944 core:Non-currentFinancialInstruments 2024-04-30 09443944 core:Non-currentFinancialInstruments 2023-04-30 09443944 core:ShareCapital 2024-04-30 09443944 core:ShareCapital 2023-04-30 09443944 core:RetainedEarningsAccumulatedLosses 2024-04-30 09443944 core:RetainedEarningsAccumulatedLosses 2023-04-30 09443944 core:Goodwill 2023-04-30 09443944 core:Goodwill 2024-04-30 09443944 core:LandBuildings 2023-04-30 09443944 core:PlantMachinery 2023-04-30 09443944 core:Vehicles 2023-04-30 09443944 core:FurnitureFittings 2023-04-30 09443944 core:OfficeEquipment 2023-04-30 09443944 core:LandBuildings 2024-04-30 09443944 core:PlantMachinery 2024-04-30 09443944 core:Vehicles 2024-04-30 09443944 core:FurnitureFittings 2024-04-30 09443944 core:OfficeEquipment 2024-04-30 09443944 bus:OrdinaryShareClass1 2024-04-30 09443944 2023-05-01 2024-04-30 09443944 bus:FilletedAccounts 2023-05-01 2024-04-30 09443944 bus:SmallEntities 2023-05-01 2024-04-30 09443944 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09443944 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09443944 bus:Director1 2023-05-01 2024-04-30 09443944 bus:Director2 2023-05-01 2024-04-30 09443944 core:Goodwill core:TopRangeValue 2023-05-01 2024-04-30 09443944 core:LandBuildings core:TopRangeValue 2023-05-01 2024-04-30 09443944 core:PlantMachinery 2023-05-01 2024-04-30 09443944 core:Vehicles 2023-05-01 2024-04-30 09443944 core:FurnitureFittings 2023-05-01 2024-04-30 09443944 core:OfficeEquipment 2023-05-01 2024-04-30 09443944 2022-05-01 2023-04-30 09443944 core:LandBuildings 2023-05-01 2024-04-30 09443944 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 09443944 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09443944 (England and Wales)

TYREFINDERS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

TYREFINDERS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

TYREFINDERS LIMITED

BALANCE SHEET

As at 30 April 2024
TYREFINDERS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 254,888 201,321
254,888 201,321
Current assets
Stocks 523,553 399,703
Debtors 5 507,023 491,568
Cash at bank and in hand 73,871 89,701
1,104,447 980,972
Creditors: amounts falling due within one year 6 ( 919,612) ( 832,468)
Net current assets 184,835 148,504
Total assets less current liabilities 439,723 349,825
Creditors: amounts falling due after more than one year 7 ( 13,096) ( 23,276)
Provision for liabilities ( 61,174) ( 47,145)
Net assets 365,453 279,404
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 365,353 279,304
Total shareholders' funds 365,453 279,404

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of TyreFinders Limited (registered number: 09443944) were approved and authorised for issue by the Board of Directors on 02 October 2024. They were signed on its behalf by:

J Thornton
Director
J A Thornton
Director
TYREFINDERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
TYREFINDERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TyreFinders Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 Water-Ma-Trout Industrial Estate, Helston, TR13 0LW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is stated net of VAT and trade discounts and is recognised at the point of sale at the company's premises.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete the sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 40 40

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 70,584 70,584
At 30 April 2024 70,584 70,584
Accumulated amortisation
At 01 May 2023 70,584 70,584
At 30 April 2024 70,584 70,584
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 May 2023 6,828 332,910 113,382 21,855 10,990 485,965
Additions 0 79,445 23,645 2,434 748 106,272
Disposals 0 0 ( 3,250) 0 0 ( 3,250)
At 30 April 2024 6,828 412,355 133,777 24,289 11,738 588,987
Accumulated depreciation
At 01 May 2023 6,828 192,189 61,358 17,161 7,108 284,644
Charge for the financial year 0 38,012 11,713 1,304 838 51,867
Disposals 0 0 ( 2,412) 0 0 ( 2,412)
At 30 April 2024 6,828 230,201 70,659 18,465 7,946 334,099
Net book value
At 30 April 2024 0 182,154 63,118 5,824 3,792 254,888
At 30 April 2023 0 140,721 52,024 4,694 3,882 201,321

5. Debtors

2024 2023
£ £
Trade debtors 455,481 466,112
Other debtors 51,542 25,456
507,023 491,568

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,183 9,932
Trade creditors 625,619 547,128
Taxation and social security 105,250 79,974
Other creditors 178,560 195,434
919,612 832,468

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,096 23,276

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100