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REGISTERED NUMBER: 07353874 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 August 2024

for

ELITE TYRE AND AUTOCARE LIMITED

ELITE TYRE AND AUTOCARE LIMITED (REGISTERED NUMBER: 07353874)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELITE TYRE AND AUTOCARE LIMITED

Company Information
for the year ended 31 August 2024







DIRECTORS: L Higton
Mrs L A Higton





REGISTERED OFFICE: Unit 6 Midland Way
Thornbury
Bristol
BS35 2BS





REGISTERED NUMBER: 07353874 (England and Wales)





ACCOUNTANTS: Mitchell Glanville (Bristol) Limited
c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ

ELITE TYRE AND AUTOCARE LIMITED (REGISTERED NUMBER: 07353874)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 105,802 32,886

CURRENT ASSETS
Stocks 8,900 8,900
Debtors 5 29,241 31,509
Cash at bank 149,999 191,890
188,140 232,299
CREDITORS
Amounts falling due within one year 6 242,185 194,481
NET CURRENT (LIABILITIES)/ASSETS (54,045 ) 37,818
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,757

70,704

CREDITORS
Amounts falling due after more than one year 7 16,584 17,500
NET ASSETS 35,173 53,204

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 34,973 53,004
SHAREHOLDERS' FUNDS 35,173 53,204

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the board the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:





L Higton - Director


ELITE TYRE AND AUTOCARE LIMITED (REGISTERED NUMBER: 07353874)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Elite Tyre and Autocare 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.

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
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.

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 20 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 4,816 29,317 23,645 14,595 72,373
Additions 23,607 32,083 40,988 8,051 104,729
Disposals - - (22,500 ) - (22,500 )
At 31 August 2024 28,423 61,400 42,133 22,646 154,602
DEPRECIATION
At 1 September 2023 - 23,588 9,961 5,938 39,487
Charge for year - 7,562 8,295 2,676 18,533
Eliminated on disposal - - (9,220 ) - (9,220 )
At 31 August 2024 - 31,150 9,036 8,614 48,800
NET BOOK VALUE
At 31 August 2024 28,423 30,250 33,097 14,032 105,802
At 31 August 2023 4,816 5,729 13,684 8,657 32,886

ELITE TYRE AND AUTOCARE LIMITED (REGISTERED NUMBER: 07353874)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 8,900
Other debtors 29,241 22,609
29,241 31,509

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,267 -
Trade creditors 182,844 131,498
Taxation and social security 11,139 28,967
Other creditors 30,935 24,016
242,185 194,481

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 7,500 17,500
Hire purchase contracts 9,084 -
16,584 17,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 ORDINARY £1 200 200

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
L Higton
Balance outstanding at start of year - 14,149
Amounts repaid - (14,149 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -