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REGISTERED NUMBER: 08075162 (England and Wales)












GERMAN TYRE WAREHOUSE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






GERMAN TYRE WAREHOUSE LTD (REGISTERED NUMBER: 08075162)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GERMAN TYRE WAREHOUSE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: S Farmer





REGISTERED OFFICE: 26 Ida Road
Skegness
Lincolnshire
PE25 2AR





REGISTERED NUMBER: 08075162 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Skegness)
Chartered Certified Accountants
26 Ida Road
Skegness
Lincolnshire
PE25 2AR

GERMAN TYRE WAREHOUSE LTD (REGISTERED NUMBER: 08075162)

ABRIDGED BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 21,283 24,681
21,283 24,681

CURRENT ASSETS
Stocks 34,627 32,978
Debtors 5,236 3,379
Cash at bank and in hand 12,225 20,141
52,088 56,498
CREDITORS
Amounts falling due within one year 48,184 58,920
NET CURRENT ASSETS/(LIABILITIES) 3,904 (2,422 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,187

22,259

PROVISIONS FOR LIABILITIES 4,044 4,689
NET ASSETS 21,143 17,570

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 21,142 17,569
SHAREHOLDERS' FUNDS 21,143 17,570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

GERMAN TYRE WAREHOUSE LTD (REGISTERED NUMBER: 08075162)

ABRIDGED BALANCE SHEET - continued
31 MAY 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 May 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 director and authorised for issue on 31 October 2024 and were signed by:





S Farmer - Director


GERMAN TYRE WAREHOUSE LTD (REGISTERED NUMBER: 08075162)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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 - 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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 13,000
AMORTISATION
At 1 June 2023
and 31 May 2024 13,000
NET BOOK VALUE

At 31 May 2024 -
At 31 May 2023 -

GERMAN TYRE WAREHOUSE LTD (REGISTERED NUMBER: 08075162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 79,323
Additions 4,099
Disposals (4,000 )
At 31 May 2024 79,422
DEPRECIATION
At 1 June 2023 54,642
Charge for year 7,097
Eliminated on disposal (3,600 )
At 31 May 2024 58,139
NET BOOK VALUE
At 31 May 2024 21,283
At 31 May 2023 24,681