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Company Registration No. 08437512 (England and Wales)
Ulverston Tyres Limited Unaudited accounts for the year ended 31 March 2024
Ulverston Tyres Limited Unaudited accounts Contents
Page
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Ulverston Tyres Limited Company Information for the year ended 31 March 2024
Directors
Matthew Miller John Miller Jnr John Miller Snr David Miller
Company Number
08437512 (England and Wales)
Registered Office
Ardtoget Church Walk Ulverston Cumbria LA12 7EW England
Accountants
EHA Accountancy Ltd 2 Lower Brook Street Ulverston Cumbria LA12 7EE
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Ulverston Tyres Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
93,087 
17,768 
Current assets
Inventories
65,025 
57,782 
Debtors
53,615 
57,068 
Cash at bank and in hand
82,506 
96,729 
201,146 
211,579 
Creditors: amounts falling due within one year
(138,235)
(134,201)
Net current assets
62,911 
77,378 
Total assets less current liabilities
155,998 
95,146 
Creditors: amounts falling due after more than one year
(26,962)
- 
Provisions for liabilities
Deferred tax
(18,092)
(2,960)
Net assets
110,944 
92,186 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
110,844 
92,086 
Shareholders' funds
110,944 
92,186 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by
John Miller Jnr Director Company Registration No. 08437512
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Ulverston Tyres Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Ulverston Tyres Limited is a private company, limited by shares, registered in England and Wales, registration number 08437512. The registered office is Ardtoget, Church Walk , Ulverston, Cumbria, LA12 7EW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Ulverston Tyres Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
- 
49,989 
32,650 
2,239 
84,878 
Additions
2,623 
404 
84,947 
- 
87,974 
Disposals
- 
(800)
- 
- 
(800)
At 31 March 2024
2,623 
49,593 
117,597 
2,239 
172,052 
Depreciation
At 1 April 2023
- 
40,571 
25,380 
1,159 
67,110 
Charge for the year
- 
2,455 
9,840 
360 
12,655 
On disposals
- 
(800)
- 
- 
(800)
At 31 March 2024
- 
42,226 
35,220 
1,519 
78,965 
Net book value
At 31 March 2024
2,623 
7,367 
82,377 
720 
93,087 
At 31 March 2023
- 
9,418 
7,270 
1,080 
17,768 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
50,865 
56,730 
Accrued income and prepayments
640 
338 
Other debtors
2,110 
- 
53,615 
57,068 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
5,457 
Obligations under finance leases and hire purchase contracts
14,486 
- 
Trade creditors
50,215 
66,470 
Amounts owed to group undertakings and other participating interests
46,385 
27,291 
Taxes and social security
- 
12,060 
Loans from directors
25,749 
21,523 
Accruals
1,400 
1,400 
138,235 
134,201 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
26,962 
- 
8
Transactions with related parties
John Miller and Sons Limited, a related company, makes payments on behalf of Ulverston Tyres Limited during the year, the total of these payments was £19,094 (2023: £19,094). At the balance sheet date the company owed £46,385 (2023: £27,292) to John Miller and Sons Ltd which is included in Other Creditors.
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Ulverston Tyres Limited Notes to the Accounts for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 0).
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