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REGISTERED NUMBER: 01726635 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

SOOPA TOOBS (TYRES) LIMITED

SOOPA TOOBS (TYRES) LIMITED (REGISTERED NUMBER: 01726635)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


SOOPA TOOBS (TYRES) LIMITED (REGISTERED NUMBER: 01726635)

ABRIDGED BALANCE SHEET
31ST MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,878 16,846

CURRENT ASSETS
Stocks 171,099 165,810
Debtors 231,427 220,373
Cash at bank and in hand 246,746 260,231
649,272 646,414
CREDITORS
Amounts falling due within one year 248,566 250,836
NET CURRENT ASSETS 400,706 395,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,584

412,424

CREDITORS
Amounts falling due after more than
one year

(75,000

)

(75,000

)

PROVISIONS FOR LIABILITIES (2,025 ) -
NET ASSETS 336,559 337,424

CAPITAL AND RESERVES
Called up share capital 5 1,000 1,000
Retained earnings 6 335,559 336,424
SHAREHOLDERS' FUNDS 336,559 337,424

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

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

SOOPA TOOBS (TYRES) LIMITED (REGISTERED NUMBER: 01726635)

ABRIDGED BALANCE SHEET - continued
31ST MAY 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 Income Statement and an abridged Balance Sheet for the year ended 31st May 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 25th February 2025 and were signed on its behalf by:




Mrs C J Frith - Director M J Mansfield - Director




Mrs M P Mansfield - Director


SOOPA TOOBS (TYRES) LIMITED (REGISTERED NUMBER: 01726635)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Soopa Toobs (Tyres) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01726635

Registered office: Home Farm
Colliers End
Ware
Hertfordshire
SG11 1EL

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 cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% 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.


SOOPA TOOBS (TYRES) LIMITED (REGISTERED NUMBER: 01726635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 - 7 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2023 71,283
Additions 232
Disposals (2,596 )
At 31st May 2024 68,919
DEPRECIATION
At 1st June 2023 54,437
Charge for year 4,200
Eliminated on disposal (2,596 )
At 31st May 2024 56,041
NET BOOK VALUE
At 31st May 2024 12,878
At 31st May 2023 16,846

SOOPA TOOBS (TYRES) LIMITED (REGISTERED NUMBER: 01726635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

6. RESERVES
Retained
earnings
£   

At 1st June 2023 336,424
Profit for the year 2,135
Dividends (3,000 )
At 31st May 2024 335,559

7. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr and Mrs M Mansfield.