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REGISTERED NUMBER: 08512452 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Tyres Direct Polegate Limited

Tyres Direct Polegate Limited (Registered number: 08512452)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Tyres Direct Polegate Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: T Ferrell





SECRETARY:





REGISTERED OFFICE: 398 Coast Road
Pevensey Bay
East Sussex
BN24 6NY





REGISTERED NUMBER: 08512452 (England and Wales)





ACCOUNTANTS: Stone's Accountancy Sussex Limited
398 Coast Road
Pevensey Bay
Pevensey
East Sussex
BN24 6NY

Tyres Direct Polegate Limited

Report of the Accountants to the Director of
Tyres Direct Polegate Limited

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 Balance Sheet. 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.

You consider that the company is exempt from an audit for the period ended as above. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial period and of its profit or loss for the financial period.


In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.


We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.






Stone's Accountancy Sussex Limited
398 Coast Road
Pevensey Bay
Pevensey
East Sussex
BN24 6NY


Date: .............................................

Tyres Direct Polegate Limited (Registered number: 08512452)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 35,123 43,903
35,123 43,903

CURRENT ASSETS
Stocks 5,633 5,578
Debtors 6 3,651 6,248
Cash at bank 57,260 45,204
66,544 57,030
CREDITORS
Amounts falling due within one year 7 50,145 34,865
NET CURRENT ASSETS 16,399 22,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,522

66,068

CREDITORS
Amounts falling due after more than
one year

8

-

(18,298

)

PROVISIONS FOR LIABILITIES (2,157 ) (2,695 )
NET ASSETS 49,365 45,075

Tyres Direct Polegate Limited (Registered number: 08512452)

Balance Sheet - continued
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 49,264 44,974
SHAREHOLDERS' FUNDS 49,365 45,075

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 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.

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 4 December 2024 and were signed by:





T Ferrell - Director


Tyres Direct Polegate Limited (Registered number: 08512452)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Tyres Direct Polegate 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.

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 fifteen years.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% 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.

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.

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.

Tyres Direct Polegate Limited (Registered number: 08512452)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 36,670
AMORTISATION
At 1 April 2023
and 31 March 2024 36,670
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 80,528 2,670 12,745 350 96,293
DEPRECIATION
At 1 April 2023 45,241 2,383 4,454 312 52,390
Charge for year 7,057 57 1,658 8 8,780
At 31 March 2024 52,298 2,440 6,112 320 61,170
NET BOOK VALUE
At 31 March 2024 28,230 230 6,633 30 35,123
At 31 March 2023 35,287 287 8,291 38 43,903

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 3,651 6,248

Tyres Direct Polegate Limited (Registered number: 08512452)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 9,424 9,183
Tax 21,334 14,172
Social security and other taxes (1,815 ) 3,877
VAT 6,395 5,703
Directors' loan accounts 13,692 914
Accrued expenses 1,115 1,016
50,145 34,865

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans - 2-5 years - 18,298

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet, the directors loan account shown on the balance sheet was owed to the director of the company. The loan is interest free and there is no set date for it to be repaid.

10. ULTIMATE CONTROLLING PARTY

The controlling party is T Ferrell.