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REGISTERED NUMBER: 02861590 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BURNT MILLS TYRES LIMITED

BURNT MILLS TYRES LIMITED (REGISTERED NUMBER: 02861590)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

BURNT MILLS TYRES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs C M Bray
W M Bray





REGISTERED OFFICE: Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ





REGISTERED NUMBER: 02861590 (England and Wales)





ACCOUNTANTS: Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ

BURNT MILLS TYRES LIMITED (REGISTERED NUMBER: 02861590)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 81,913 18,925

CURRENT ASSETS
Stocks 32,977 26,913
Debtors 120,309 148,571
Cash at bank 37,438 56,113
190,724 231,597
CREDITORS
Amounts falling due within one year 110,358 159,117
NET CURRENT ASSETS 80,366 72,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,279

91,405

CREDITORS
Amounts falling due after more than one
year

(75,443

)

(16,769

)

PROVISIONS FOR LIABILITIES (15,200 ) (4,700 )
NET ASSETS 71,636 69,936

CAPITAL AND RESERVES
Called up share capital 8 35,000 35,000
Retained earnings 9 36,636 34,936
SHAREHOLDERS' FUNDS 71,636 69,936

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

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

BURNT MILLS TYRES LIMITED (REGISTERED NUMBER: 02861590)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2025 and were signed on its behalf by:





Mrs C M Bray - Director


BURNT MILLS TYRES LIMITED (REGISTERED NUMBER: 02861590)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Burnt Mills Tyres 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.

The company's place of business is located in Basildon. This is different to the company's registered office address.

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 the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes from the sale of tyres. Sales of goods are recognised when the legal title transfers to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

BURNT MILLS TYRES LIMITED (REGISTERED NUMBER: 02861590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 47,809
Additions 90,948
Disposals (750 )
At 30 September 2024 138,007
DEPRECIATION
At 1 October 2023 28,884
Charge for year 27,782
Eliminated on disposal (572 )
At 30 September 2024 56,094
NET BOOK VALUE
At 30 September 2024 81,913
At 30 September 2023 18,925

BURNT MILLS TYRES LIMITED (REGISTERED NUMBER: 02861590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 85,518
At 30 September 2024 85,518
DEPRECIATION
Charge for year 21,380
At 30 September 2024 21,380
NET BOOK VALUE
At 30 September 2024 64,138

5. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 10,089 10,162

Amounts falling due between one and two years:
Other loans 6,680 10,089

Amounts falling due between two and five years:
Other loans - 6,680

6. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 14,965 -
Between one and five years 68,763 -
83,728 -

BURNT MILLS TYRES LIMITED (REGISTERED NUMBER: 02861590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 16,769 26,930
Hire purchase liabilities 83,728 -
100,497 26,930

Other loans, included above, consists of a Bounce Back Loan which the company drew down in May 2020. The loan is part of the Bounce Back Loan Scheme, and hence backed by the UK Government guarantee for the full amount outstanding.

Hire purchase balances are secured against the asset to which they relate.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
35,000 Ordinary £1 35,000 35,000

9. RESERVES
Retained
earnings
£   

At 1 October 2023 34,936
Profit for the year 2,700
Dividends (1,000 )
At 30 September 2024 36,636

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of certain employees. During the year premiums paid by the company amounted to £9,539 (2023 - £3,340). At the balance sheet date there were no amounts outstanding (2023 - £nil).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BURNT MILLS TYRES LIMITED

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Burnt Mills Tyres Limited for the year ended 30 September 2024 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Burnt Mills Tyres Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Burnt Mills Tyres Limited and state those matters that we have agreed to state to the Board of Directors of Burnt Mills Tyres Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Burnt Mills Tyres Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Burnt Mills Tyres Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Burnt Mills Tyres Limited. You consider that Burnt Mills Tyres Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Burnt Mills Tyres Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ


17 February 2025