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Registered Number: 05818387
England and Wales

 

 

 

DAVE PRANCE TYRE & AUTOCENTRES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Dave Prance
Registered Number 05818387
Registered Office 138 Pen Y Dre
Rhiwbina
Cardiff
CF14 6ES
1
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 3 8,000    26,622 
Debtors: amounts falling due within one year 4 4,743    13,508 
Cash at bank and in hand 62,208    73,590 
74,951    113,720 
Creditors: amount falling due within one year 5 (25,029)   (46,454)
Net current assets 49,922    67,266 
 
Total assets less current liabilities 49,922    67,266 
Net assets 49,922    67,266 
 

Capital and reserves
     
Called up share capital 6 1,000    1,000 
Profit and loss account 48,922    66,266 
Shareholders' funds 49,922    67,266 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The director has chosen to exercise the option in S444(1)(a) CA 2006 and file just the balance sheet.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small company's regime.
The financial statements were approved by the director on 25 February 2025 and were signed by:


-------------------------------
Dave Prance
Director
2
General Information
Dave Prance Tyre & Autocentres Limited is a private company, limited by shares, registered in England and Wales, registration number 05818387, registration address 138 Pen Y Dre, Rhiwbina, Cardiff, CF14 6ES.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 2 (2023 : 3).
3.

Stocks

2024
£
  2023
£
Stocks 8,000    26,622 
8,000    26,622 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 4,743    13,508 
4,743    13,508 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 3,324    1,458 
Other Creditors 2,203    2,203 
Directors' Current Accounts 19,296    42,660 
VAT 206    133 
25,029    46,454 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

3