2023-06-012024-05-312024-05-31false11993756Trek Tyres Ltd2025-02-2645200falseiso4217:GBPxbrli:pure119937562023-06-01119937562024-05-31119937562023-06-012024-05-31119937562022-06-01119937562023-05-31119937562022-06-012023-05-3111993756bus:SmallEntities2023-06-012024-05-3111993756bus:AuditExempt-NoAccountantsReport2023-06-012024-05-3111993756bus:FullAccounts2023-06-012024-05-3111993756bus:PrivateLimitedCompanyLtd2023-06-012024-05-3111993756core:WithinOneYear2024-05-3111993756core:AfterOneYear2024-05-3111993756core:WithinOneYear2023-05-3111993756core:AfterOneYear2023-05-3111993756core:ShareCapital2024-05-3111993756core:SharePremium2024-05-3111993756core:RevaluationReserve2024-05-3111993756core:OtherReservesSubtotal2024-05-3111993756core:RetainedEarningsAccumulatedLosses2024-05-3111993756core:ShareCapital2023-05-3111993756core:SharePremium2023-05-3111993756core:RevaluationReserve2023-05-3111993756core:OtherReservesSubtotal2023-05-3111993756core:RetainedEarningsAccumulatedLosses2023-05-3111993756core:LandBuildings2024-05-3111993756core:PlantMachinery2024-05-3111993756core:Vehicles2024-05-3111993756core:FurnitureFittings2024-05-3111993756core:OfficeEquipment2024-05-3111993756core:NetGoodwill2024-05-3111993756core:IntangibleAssetsOtherThanGoodwill2024-05-3111993756core:ListedExchangeTraded2024-05-3111993756core:UnlistedNon-exchangeTraded2024-05-3111993756core:LandBuildings2023-05-3111993756core:PlantMachinery2023-05-3111993756core:Vehicles2023-05-3111993756core:FurnitureFittings2023-05-3111993756core:OfficeEquipment2023-05-3111993756core:NetGoodwill2023-05-3111993756core:IntangibleAssetsOtherThanGoodwill2023-05-3111993756core:ListedExchangeTraded2023-05-3111993756core:UnlistedNon-exchangeTraded2023-05-3111993756core:LandBuildings2023-06-012024-05-3111993756core:PlantMachinery2023-06-012024-05-3111993756core:Vehicles2023-06-012024-05-3111993756core:FurnitureFittings2023-06-012024-05-3111993756core:OfficeEquipment2023-06-012024-05-3111993756core:NetGoodwill2023-06-012024-05-3111993756core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3111993756core:ListedExchangeTraded2023-06-012024-05-3111993756core:UnlistedNon-exchangeTraded2023-06-012024-05-3111993756core:MoreThanFiveYears2023-06-012024-05-3111993756core:Non-currentFinancialInstruments2024-05-3111993756core:Non-currentFinancialInstruments2023-05-3111993756dpl:CostSales2023-06-012024-05-3111993756dpl:DistributionCosts2023-06-012024-05-3111993756core:LandBuildings2023-06-012024-05-3111993756core:PlantMachinery2023-06-012024-05-3111993756core:Vehicles2023-06-012024-05-3111993756core:FurnitureFittings2023-06-012024-05-3111993756core:OfficeEquipment2023-06-012024-05-3111993756dpl:AdministrativeExpenses2023-06-012024-05-3111993756core:NetGoodwill2023-06-012024-05-3111993756core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3111993756dpl:GroupUndertakings2023-06-012024-05-3111993756dpl:ParticipatingInterests2023-06-012024-05-3111993756dpl:GroupUndertakingscore:ListedExchangeTraded2023-06-012024-05-3111993756core:ListedExchangeTraded2023-06-012024-05-3111993756dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-06-012024-05-3111993756core:UnlistedNon-exchangeTraded2023-06-012024-05-3111993756dpl:CostSales2022-06-012023-05-3111993756dpl:DistributionCosts2022-06-012023-05-3111993756core:LandBuildings2022-06-012023-05-3111993756core:PlantMachinery2022-06-012023-05-3111993756core:Vehicles2022-06-012023-05-3111993756core:FurnitureFittings2022-06-012023-05-3111993756core:OfficeEquipment2022-06-012023-05-3111993756dpl:AdministrativeExpenses2022-06-012023-05-3111993756core:NetGoodwill2022-06-012023-05-3111993756core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3111993756dpl:GroupUndertakings2022-06-012023-05-3111993756dpl:ParticipatingInterests2022-06-012023-05-3111993756dpl:GroupUndertakingscore:ListedExchangeTraded2022-06-012023-05-3111993756core:ListedExchangeTraded2022-06-012023-05-3111993756dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-06-012023-05-3111993756core:UnlistedNon-exchangeTraded2022-06-012023-05-3111993756core:NetGoodwill2024-05-3111993756core:IntangibleAssetsOtherThanGoodwill2024-05-3111993756core:LandBuildings2024-05-3111993756core:PlantMachinery2024-05-3111993756core:Vehicles2024-05-3111993756core:FurnitureFittings2024-05-3111993756core:OfficeEquipment2024-05-3111993756core:AfterOneYear2024-05-3111993756core:WithinOneYear2024-05-3111993756core:ListedExchangeTraded2024-05-3111993756core:UnlistedNon-exchangeTraded2024-05-3111993756core:ShareCapital2024-05-3111993756core:SharePremium2024-05-3111993756core:RevaluationReserve2024-05-3111993756core:OtherReservesSubtotal2024-05-3111993756core:RetainedEarningsAccumulatedLosses2024-05-3111993756core:NetGoodwill2023-05-3111993756core:IntangibleAssetsOtherThanGoodwill2023-05-3111993756core:LandBuildings2023-05-3111993756core:PlantMachinery2023-05-3111993756core:Vehicles2023-05-3111993756core:FurnitureFittings2023-05-3111993756core:OfficeEquipment2023-05-3111993756core:AfterOneYear2023-05-3111993756core:WithinOneYear2023-05-3111993756core:ListedExchangeTraded2023-05-3111993756core:UnlistedNon-exchangeTraded2023-05-3111993756core:ShareCapital2023-05-3111993756core:SharePremium2023-05-3111993756core:RevaluationReserve2023-05-3111993756core:OtherReservesSubtotal2023-05-3111993756core:RetainedEarningsAccumulatedLosses2023-05-3111993756core:NetGoodwill2022-06-0111993756core:IntangibleAssetsOtherThanGoodwill2022-06-0111993756core:LandBuildings2022-06-0111993756core:PlantMachinery2022-06-0111993756core:Vehicles2022-06-0111993756core:FurnitureFittings2022-06-0111993756core:OfficeEquipment2022-06-0111993756core:AfterOneYear2022-06-0111993756core:WithinOneYear2022-06-0111993756core:ListedExchangeTraded2022-06-0111993756core:UnlistedNon-exchangeTraded2022-06-0111993756core:ShareCapital2022-06-0111993756core:SharePremium2022-06-0111993756core:RevaluationReserve2022-06-0111993756core:OtherReservesSubtotal2022-06-0111993756core:RetainedEarningsAccumulatedLosses2022-06-0111993756core:AfterOneYear2023-06-012024-05-3111993756core:WithinOneYear2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:CostValuation2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3111993756core:Non-currentFinancialInstrumentscore:CostValuation2024-05-3111993756core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-05-3111993756core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-05-3111993756core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-05-3111993756core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-05-3111993756core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-05-3111993756core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-05-3111993756core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-05-3111993756core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-05-3111993756core:Non-currentFinancialInstrumentscore:CostValuation2023-05-3111993756core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-05-3111993756core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-05-3111993756core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-05-3111993756core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-05-3111993756core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-05-3111993756core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-05-3111993756core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-05-3111993756core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-05-3111993756bus:Director12023-06-012024-05-3111993756bus:Director22023-06-012024-05-31

Trek Tyres Ltd

Registered Number
11993756
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Trek Tyres Ltd
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

N Lanaway
P Lanaway

Registered Address

Unit 32 Laurence Industrial Estate
Eastwoodbury Lane
Southend On Sea
SS2 6RH

Registered Number

11993756 (England and Wales)
Trek Tyres Ltd
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-1,300
Tangible assets42,4024,151
2,4025,451
Current assets
Stocks510,2728,977
Debtors66,4217,524
Cash at bank and on hand2020
16,71316,521
Creditors amounts falling due within one year7(39,759)(40,400)
Net current assets (liabilities)(23,046)(23,879)
Total assets less current liabilities(20,644)(18,428)
Creditors amounts falling due after one year8(73,203)(61,355)
Net assets(93,847)(79,783)
Capital and reserves
Called up share capital100100
Profit and loss account(93,947)(79,883)
Shareholders' funds(93,847)(79,783)
The financial statements were approved and authorised for issue by the Board of Directors on 26 February 2025, and are signed on its behalf by:
N Lanaway
Director
Registered Company No. 11993756
Trek Tyres Ltd
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be five years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Office Equipment5
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 June 236,5006,500
At 31 May 246,5006,500
Amortisation and impairment
At 01 June 235,2005,200
Charge for year1,3001,300
At 31 May 246,5006,500
Net book value
At 31 May 24--
At 31 May 231,3001,300
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 June 236,1462,6008,746
At 31 May 246,1462,6008,746
Depreciation and impairment
At 01 June 233,1091,4864,595
Charge for year1,2295201,749
At 31 May 244,3382,0066,344
Net book value
At 31 May 241,8085942,402
At 31 May 233,0371,1144,151
5.Stocks

2024

2023

££
Raw materials and consumables10,2728,977
Total10,2728,977
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables4,0585,334
Other debtors2,3632,190
Total6,4217,524
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables32,89429,040
Bank borrowings and overdrafts4,0235,847
Taxation and social security5052,867
Other creditors2,3372,646
Total39,75940,400
8.Creditors: amounts due after one year

2024

2023

££
Other creditors73,20361,355
Total73,20361,355
9.Related party transactions
As at the balance sheet date there were directors' current account balances totalling £75,203 (2023: £63,355).