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REGISTERED NUMBER: 02327193 (England and Wales)












M.L. TYRES (NORTHERN) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






M.L. TYRES (NORTHERN) LIMITED (REGISTERED NUMBER: 02327193)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M.L. TYRES (NORTHERN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr M Laws (Senior)





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 02327193 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

M.L. TYRES (NORTHERN) LIMITED (REGISTERED NUMBER: 02327193)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 - 53,243

CURRENT ASSETS
Debtors 5 - 681,502
Cash at bank and in hand 134 11,374
134 692,876
CREDITORS
Amounts falling due within one year 6 633 9,028
NET CURRENT (LIABILITIES)/ASSETS (499 ) 683,848
TOTAL ASSETS LESS CURRENT
LIABILITIES

(499

)

737,091

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (599 ) 736,991
SHAREHOLDERS' FUNDS (499 ) 737,091

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 31 December 2024 and were signed by:





Mr M Laws (Senior) - Director


M.L. TYRES (NORTHERN) LIMITED (REGISTERED NUMBER: 02327193)

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


1. STATUTORY INFORMATION

M.L. Tyres (Northern) 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Freehold properties
The company's freehold properties are included in the Balance Sheet at their fair market values.The surplus(es) or deficit(s) on revaluation of freehold properties, if any, are transferred to the revaluation reserve, apart from when the revaluation is below the original cost which is charged to the profit and loss account. No depreciation is provided in these accounts in respect of the freehold properties.

The policy represents a departure from the statutory accounting principles, which require depreciation to be provided on all fixed assets.The director considers that this policy is necessary in order that the accounts give a true and fair view.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

M.L. TYRES (NORTHERN) LIMITED (REGISTERED NUMBER: 02327193)

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


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 51,653 27,949 16,645 2,588 98,835
Transfer to ownership (51,653 ) - - - (51,653 )
At 31 March 2024 - 27,949 16,645 2,588 47,182
DEPRECIATION
At 1 April 2023 - 26,920 16,084 2,588 45,592
Charge for year - 1,029 561 - 1,590
At 31 March 2024 - 27,949 16,645 2,588 47,182
NET BOOK VALUE
At 31 March 2024 - - - - -
At 31 March 2023 51,653 1,029 561 - 53,243

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Related company loan - 81,406
Deferred tax asset - 96
- 81,502

Amounts falling due after more than one year:
Other debtors - 600,000

Aggregate amounts - 681,502

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors - 4,900
Tax - 198
Directors' current accounts 633 3,030
Accruals - 900
633 9,028

M.L. TYRES (NORTHERN) LIMITED (REGISTERED NUMBER: 02327193)

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


7. DEFERRED TAX
£   
Balance at 1 April 2023 (96 )
Accelerated capital allowances
Balance at 31 March 2024 (96 )

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2023 736,991
Deficit for the year (1,590 )
Dividends (736,000 )
At 31 March 2024 (599 )

10. ULTIMATE CONTROLLING PARTY

M L Properties Limited holds 100 percent of the issued share capital, therefore is the ultimate controlling party.