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REGISTERED NUMBER: 04072933 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

Lydney Tyre & Auto Services Limited

Lydney Tyre & Auto Services Limited (Registered number: 04072933)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lydney Tyre & Auto Services Limited

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: C Webb
A George





SECRETARY: Mrs A Meredith





REGISTERED OFFICE: Unit 9
The Marina
Harbour Road
Lydney
Gloucestershire
GL15 5ET





REGISTERED NUMBER: 04072933 (England and Wales)





ACCOUNTANTS: Knights
2A Lighthouse Trade Park
Lydney
21 Highnam Business Centre
Highnam
Gloucestershire
GL2 8DN

Lydney Tyre & Auto Services Limited (Registered number: 04072933)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,507 36,407

CURRENT ASSETS
Stocks 14,650 13,871
Debtors 5 11,544 21,808
Cash at bank and in hand 121,257 157,112
147,451 192,791
CREDITORS
Amounts falling due within one year 6 107,302 127,727
NET CURRENT ASSETS 40,149 65,064
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,656

101,471

CREDITORS
Amounts falling due after more than one
year

7

(19,167

)

(29,167

)

PROVISIONS FOR LIABILITIES 8 (7,124 ) (6,824 )
NET ASSETS 52,365 65,480

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 52,265 65,380
SHAREHOLDERS' FUNDS 52,365 65,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

Lydney Tyre & Auto Services Limited (Registered number: 04072933)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:




C Webb - Director



A George - Director


Lydney Tyre & Auto Services Limited (Registered number: 04072933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Lydney Tyre & Auto Services 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.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 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.

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.

Lydney Tyre & Auto Services Limited (Registered number: 04072933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 86,525 7,582 31,153 125,260
Additions 8,510 691 750 9,951
At 30 September 2024 95,035 8,273 31,903 135,211
DEPRECIATION
At 1 October 2023 60,272 5,658 22,923 88,853
Charge for year 5,214 392 2,245 7,851
At 30 September 2024 65,486 6,050 25,168 96,704
NET BOOK VALUE
At 30 September 2024 29,549 2,223 6,735 38,507
At 30 September 2023 26,253 1,924 8,230 36,407

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,544 21,808

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 52,829 61,092
Taxation and social security 24,019 36,371
Other creditors 30,454 30,264
107,302 127,727

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 19,167 29,167

Other creditors relate to amounts owed to the Directors loan accounts.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,124 6,824

Lydney Tyre & Auto Services Limited (Registered number: 04072933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 6,824
Accelerated capital allowances 300
Balance at 30 September 2024 7,124