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REGISTERED NUMBER: 00455538 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Tyremiles Limited

Tyremiles Limited (Registered number: 00455538)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tyremiles Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs D M Wheatcroft
C G Wheatcroft
S Wheatcroft



SECRETARY: S Wheatcroft



REGISTERED OFFICE: Moor Lane
Osmaston
Near Ashbourne
Derbyshire
DE6 1NA



REGISTERED NUMBER: 00455538 (England and Wales)



ACCOUNTANTS: Thompson Jones Business Solutions Limited
2 Heap Bridge
Bury
Lancashire
BL9 7HR



BANKERS: The Co-Operative Bank Plc
P O Box 250
Skelmersdale
WN86WT

Tyremiles Limited (Registered number: 00455538)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 420,580 308,527
Investments 6 218,606 199,836
639,186 508,363

CURRENT ASSETS
Stocks 374,228 403,966
Debtors 7 200,514 265,274
Cash at bank and in hand 495,265 328,375
1,070,007 997,615
CREDITORS
Amounts falling due within one year 8 (435,902 ) (413,368 )
NET CURRENT ASSETS 634,105 584,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,273,291

1,092,610

PROVISIONS FOR LIABILITIES (61,584 ) (60,989 )
NET ASSETS 1,211,707 1,031,621

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Revaluation reserve 364,349 249,349
Retained earnings 843,358 778,272
1,211,707 1,031,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Tyremiles Limited (Registered number: 00455538)

Balance Sheet - continued
30 April 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





C G Wheatcroft - Director


Tyremiles Limited (Registered number: 00455538)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Tyremiles 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

DEPRECIATION
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 cost

STOCKS
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

TAXATION
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tyremiles Limited (Registered number: 00455538)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

DEFINED CONTRIBUTION PLANS
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

Tyremiles Limited (Registered number: 00455538)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 285,000 292,372 577,372
Additions - 3,200 3,200
Revaluations 115,000 - 115,000
At 30 April 2024 400,000 295,572 695,572
DEPRECIATION
At 1 May 2023 - 268,845 268,845
Charge for year - 6,147 6,147
At 30 April 2024 - 274,992 274,992
NET BOOK VALUE
At 30 April 2024 400,000 20,580 420,580
At 30 April 2023 285,000 23,527 308,527

Freehold property is revalued as per valuation report dated 06.01.2025. The valuation report employes market value approach to determine the fair market value of the property as of 06.01.2025. The valuation report considers all relevant factors impacting the property's value.


6. FIXED ASSET INVESTMENTS
Other
investment
£   
COST OR VALUATION
At 1 May 2023 199,836
Disposals (1,882 )
Revaluations 20,652
At 30 April 2024 218,606
NET BOOK VALUE
At 30 April 2024 218,606
At 30 April 2023 199,836


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 184,166 250,043
Other debtors 16,348 15,231
200,514 265,274

Tyremiles Limited (Registered number: 00455538)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 202,940 187,113
Taxation and social security 61,377 60,124
Other creditors 171,585 166,131
435,902 413,368

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors entered into the following advances and credits with the company:
2024

Balance brought
forward
Advances/ (credits) to
thedirectors
Balance carried
forward
£££
D. M. Wheatcroft(13,500)-(13,500)
C. G. Wheatcroft(27,027)- (27,027)
S. Wheatcroft (33,750)-(33,750)
(74,277)-(74,277)
2023

Balance brought
forward
Advances/ (credits) to
thedirectors
Balance carried
forward
£££
D. M. Wheatcroft (15,500)2,000(13,500)
C. G. Wheatcroft(26,026) (1,001)(27,027)
S. Wheatcroft (38,750) 5,000(33,750)
(80,276)(5,999)(74,277)