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REGISTERED NUMBER: 06717914 (England and Wales)















CHARLIES TYRE SHOPS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






CHARLIES TYRE SHOPS LTD (REGISTERED NUMBER: 06717914)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 9

CHARLIES TYRE SHOPS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: M Vanyj





SECRETARY: Mrs K J Vanyj





REGISTERED OFFICE: Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL





REGISTERED NUMBER: 06717914 (England and Wales)





ACCOUNTANTS: FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL

CHARLIES TYRE SHOPS LTD (REGISTERED NUMBER: 06717914)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 63,000 63,000
Property, plant and equipment 5 151,493 156,923
Investment property 6 177,813 177,813
392,306 397,736

CURRENT ASSETS
Inventories 2,291 2,291
Debtors 7 27,549 27,949
Cash at bank and in hand 42,431 65,663
72,271 95,903
CREDITORS
Amounts falling due within one year 8 318,122 335,529
NET CURRENT LIABILITIES (245,851 ) (239,626 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,455

158,110

CREDITORS
Amounts falling due after more than one
year

9

98,658

118,276
NET ASSETS 47,797 39,834

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 47,697 39,734
SHAREHOLDERS' FUNDS 47,797 39,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CHARLIES TYRE SHOPS LTD (REGISTERED NUMBER: 06717914)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2024 and were signed by:





M Vanyj - Director


CHARLIES TYRE SHOPS LTD (REGISTERED NUMBER: 06717914)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Charlies Tyre Shops 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 have been prepared n sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill acquired in 2008 has not been amortised as in the opinion of the director its market value is in excess of the book cost.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and Machinery - 20% on cost
Fixtures and Fittings - 10% on cost
Motor Vehicles - 25% on reducing balance
Computer Equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Inventories 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 Income Statement, 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 statement of financial position date.


CHARLIES TYRE SHOPS LTD (REGISTERED NUMBER: 06717914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 70,000
AMORTISATION
At 1 November 2022
and 31 October 2023 7,000
NET BOOK VALUE
At 31 October 2023 63,000
At 31 October 2022 63,000

CHARLIES TYRE SHOPS LTD (REGISTERED NUMBER: 06717914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property Machinery
£    £    £   
COST
At 1 November 2022 126,063 12,732 38,073
Additions - - 317
At 31 October 2023 126,063 12,732 38,390
DEPRECIATION
At 1 November 2022 - - 30,361
Charge for year - - 3,045
At 31 October 2023 - - 33,406
NET BOOK VALUE
At 31 October 2023 126,063 12,732 4,984
At 31 October 2022 126,063 12,732 7,712

Fixtures
and Motor Computer
Fittings Vehicles Equipment Totals
£    £    £    £   
COST
At 1 November 2022 2,366 14,015 5,196 198,445
Additions - - - 317
At 31 October 2023 2,366 14,015 5,196 198,762
DEPRECIATION
At 1 November 2022 2,364 3,763 5,034 41,522
Charge for year - 2,563 139 5,747
At 31 October 2023 2,364 6,326 5,173 47,269
NET BOOK VALUE
At 31 October 2023 2 7,689 23 151,493
At 31 October 2022 2 10,252 162 156,923

CHARLIES TYRE SHOPS LTD (REGISTERED NUMBER: 06717914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Vehicles
£   
COST
At 1 November 2022
and 31 October 2023 12,000
DEPRECIATION
At 1 November 2022 1,750
Charge for year 2,563
At 31 October 2023 4,313
NET BOOK VALUE
At 31 October 2023 7,687
At 31 October 2022 10,250

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 177,813
NET BOOK VALUE
At 31 October 2023 177,813
At 31 October 2022 177,813

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 27,549 27,949

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,000 45,130
Hire purchase contracts 1,800 1,394
Trade creditors 87,500 87,500
Taxation and social security 168,185 152,448
Other creditors 38,637 49,057
318,122 335,529

CHARLIES TYRE SHOPS LTD (REGISTERED NUMBER: 06717914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 91,476 109,294
Hire purchase contracts 7,182 8,982
98,658 118,276

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 27,642 35,462

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
M Vanyj
Balance outstanding at start of year 27,949 9,247
Amounts advanced 27,549 27,949
Amounts repaid (27,949 ) (9,247 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,549 27,949

CHARLIES TYRE SHOPS LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
CHARLIES TYRE SHOPS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 October 2023 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL


27 March 2024