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REGISTERED NUMBER: 01351219 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

FIVEWAYS TYRES LIMITED

FIVEWAYS TYRES LIMITED (REGISTERED NUMBER: 01351219)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FIVEWAYS TYRES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: C Halliwell
Mrs K Richard





SECRETARY: Mrs K Richard





REGISTERED OFFICE: Rubicon House
Unit 5
Second Way
Wembley
Middlesex
HA9 0YJ





REGISTERED NUMBER: 01351219 (England and Wales)





ACCOUNTANTS: Braham Noble Denholm & Co
York House
Empire Way
Wembley
Middlesex
HA9 0PA

FIVEWAYS TYRES LIMITED (REGISTERED NUMBER: 01351219)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,651,217 2,475,003

CURRENT ASSETS
Debtors 2,469 1,969
Cash at bank 92,444 126,208
94,913 128,177
CREDITORS
Amounts falling due within one year 117,689 34,110
NET CURRENT (LIABILITIES)/ASSETS (22,776 ) 94,067
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,628,441

2,569,070

CREDITORS
Amounts falling due after more than one
year

(13,677

)

(52,360

)

PROVISIONS FOR LIABILITIES (324,946 ) (324,946 )
NET ASSETS 2,289,818 2,191,764

CAPITAL AND RESERVES
Called up share capital 5 95 95
Revaluation reserve 6 2,169,888 2,169,888
Capital redemption reserve 6 15 15
Retained earnings 6 119,820 21,766
SHAREHOLDERS' FUNDS 2,289,818 2,191,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

FIVEWAYS TYRES LIMITED (REGISTERED NUMBER: 01351219)

ABRIDGED BALANCE SHEET - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:




C Halliwell - Director



Mrs K Richard - Director


FIVEWAYS TYRES LIMITED (REGISTERED NUMBER: 01351219)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fiveways Tyres 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 as modified by the revaluation of certain assets.

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
The freehold property and leasehold property are revalued by the director on an existing use basis.

No depreciation is provided on leasehold properties since it is the company's policy to maintain such property in a continual state of sound repair and depreciation would not be material.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

FIVEWAYS TYRES LIMITED (REGISTERED NUMBER: 01351219)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2023 2,496,132
Additions 176,577
At 31 March 2024 2,672,709
DEPRECIATION
At 1 April 2023 21,129
Charge for year 363
At 31 March 2024 21,492
NET BOOK VALUE
At 31 March 2024 2,651,217
At 31 March 2023 2,475,003

Cost or valuation at 31 March 2024 is represented by:

Totals
£   
Valuation in 2023 1,710,243
Cost 962,466
2,672,709

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
85 Ordinary 'A' £1 85 85
10 Ordinary 'B' £1 10 10
95 95

6. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 21,766 2,169,888 15 2,191,669
Profit for the year 108,054 108,054
Dividends (10,000 ) (10,000 )
At 31 March 2024 119,820 2,169,888 15 2,289,723