Registered number
06839153
Fuller Tyres Limited
Filleted Accounts
31 March 2024
Fuller Tyres Limited
Registered number: 06839153
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 255,991 274,035
Current assets
Stocks 135,257 124,426
Debtors 4 744,607 546,021
Cash at bank and in hand 202,908 158,687
1,082,772 829,134
Creditors: amounts falling due within one year 5 (875,554) (652,241)
Net current assets 207,218 176,893
Total assets less current liabilities 463,209 450,928
Creditors: amounts falling due after more than one year 6 (100,462) (166,583)
Provisions for liabilities (61,435) (26,627)
Net assets 301,312 257,718
Capital and reserves
Called up share capital 100 100
Profit and loss account 301,212 257,618
Shareholders' funds 301,312 257,718
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Fuller
Director
Approved by the board on 10 February 2025
Fuller Tyres Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Summary of significant accounting policies
Basis of preparation
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small company regime).

The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated..
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 20 % straight line
Plant and machinery 20 % straight line
Motor vehicles 20 % straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Employee benefits
When employees have rendered service to the company, short term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 15
3 Tangible fixed assets
Office equipment Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 10,602 198,950 418,128 627,680
Additions 1,994 3,550 47,000 52,544
At 31 March 2024 12,596 202,500 465,128 680,224
Depreciation
At 1 April 2023 7,877 132,980 212,788 353,645
Charge for the year 955 16,827 52,806 70,588
At 31 March 2024 8,832 149,807 265,594 424,233
Net book value
At 31 March 2024 3,764 52,693 199,534 255,991
At 31 March 2023 2,725 65,970 205,340 274,035
The obligations under the finance lease and hire purchase contracts are secured on the assets concerned with a carrying amount £136,983 (2023 - £181,622).
4 Debtors 2024 2023
£ £
Trade debtors 739,000 541,259
Other debtors 5,607 4,762
744,607 546,021
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 52,916 55,203
Trade creditors 750,518 507,698
Taxation and social security costs 39,199 66,134
Other creditors 22,921 13,206
875,554 652,241
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,500 22,500
Obligations under finance lease and hire purchase contracts 61,616 112,237
Other creditors 26,346 31,846
100,462 166,583
7 Loans 2024 2023
£ £
Creditors include:
Secured obligations under finance lease and hire purchase contracts 114,532 167,440
8 Share Capital Nominal 2024 2024 2023
value Number £ £
Ordinary shares £1 each 100 100 100
100 100
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 70,158 87,400
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
C Fuller
interest free loan 200 - (200) -
200 - (200) -
11 Related party transactions
A director has lent the company various amounts during the year, interest free.The amount due is included in other creditors. The amount due to the director at the financial year end was £35,437 (2023 - £34,936).

A director has lent the company various amounts during the year, interest free.The amount due is included in other creditors. The amount due to the director at the financial year end was £581 (2023 - £Nil).
12 Other information
Fuller Tyres Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 5, Havering Farm
Guildford Road
Guildford
Surrey
GU4 7QA
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