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REGISTERED NUMBER: OC441117 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

MARTINS TYRES LLP

MARTINS TYRES LLP (REGISTERED NUMBER: OC441117)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARTINS TYRES LLP

General Information
for the year ended 31 March 2024







Designated members: E Churchill
P A Martin





Registered office: C/O Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: OC441117 (England and Wales)





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

MARTINS TYRES LLP (REGISTERED NUMBER: OC441117)

Balance Sheet
31 March 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 172,407 167,784

Current assets
Stocks 184,200 210,122
Debtors 5 255,434 335,321
Cash at bank and in hand 270,950 160,800
710,584 706,243
Creditors
Amounts falling due within one year 6 (749,553 ) (740,536 )
Net current liabilities (38,969 ) (34,293 )
Total assets less current liabilities 133,438 133,491

Creditors
Amounts falling due after more than one
year

7

(33,508

)

(45,878

)
Net assets attributable to members 99,930 87,613

Loans and other debts due to members 8 99,930 87,613

Total members' interests
Loans and other debts due to members 8 99,930 87,613
Amounts due from members 5 (222,400 ) (312,187 )
(122,470 ) (224,574 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

MARTINS TYRES LLP (REGISTERED NUMBER: OC441117)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 October 2024 and were signed by:





E Churchill - Designated member

MARTINS TYRES LLP (REGISTERED NUMBER: OC441117)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Martins Tyres LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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 Machinery15% reducing balance
Furniture and Fittings15% reducing balance
Motor Vehicles25% reducing balance
Land & BuildingsNot depreciated

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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. Employee information

The average number of employees during the year was 17 (2023 - 15 ) .

MARTINS TYRES LLP (REGISTERED NUMBER: OC441117)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£ £ £
Cost
At 1 April 2023 29,336 179,864 209,200
Additions 11,675 29,501 41,176
At 31 March 2024 41,011 209,365 250,376
Depreciation
At 1 April 2023 - 41,416 41,416
Charge for year - 36,553 36,553
At 31 March 2024 - 77,969 77,969
Net book value
At 31 March 2024 41,011 131,396 172,407
At 31 March 2023 29,336 138,448 167,784

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 14,676 10,287
Other debtors 240,758 325,034
255,434 335,321

6. Creditors: amounts falling due within one year
2024 2023
£ £
Hire purchase contracts 12,369 12,369
Trade creditors 304,422 280,760
Taxation and social security 28,181 35,526
Other creditors 404,581 411,881
749,553 740,536

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Hire purchase contracts 33,508 45,878

MARTINS TYRES LLP (REGISTERED NUMBER: OC441117)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


8. Loans and other debts due to members
2024 2023
£ £
Amounts owed to members in respect of profits 99,930 87,613

Falling due within one year 99,930 87,613