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REGISTERED NUMBER: 11304880 (England and Wales)















REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

LONDON DISCOUNT TYRES LIMITED

LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


LONDON DISCOUNT TYRES LIMITED

COMPANY INFORMATION
for the Year Ended 30 APRIL 2024







DIRECTOR: S P Boyle





REGISTERED OFFICE: 43, Scotts Avenue,
Bromley,
Kent
BR2 0LG





REGISTERED NUMBER: 11304880 (England and Wales)





ACCOUNTANTS: Bennett & Co
The Annexe
Minerva House
Bordyke
Tonbridge
Kent
TN9 1NR

LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)

REPORT OF THE DIRECTOR
for the Year Ended 30 APRIL 2024

The director presents his report with the financial statements of the company for the year ended 30 April 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 April 2024.

DIRECTOR
S P Boyle held office during the whole of the period from 1 May 2023 to the date of this report.

ON BEHALF OF THE BOARD:





S P Boyle - Director


13 February 2025

LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)

INCOME STATEMENT
for the Year Ended 30 APRIL 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 15,190 40,644

Cost of sales 12,500 42,773
GROSS PROFIT/(LOSS) 2,690 (2,129 )

Administrative expenses 60,609 36,371
(57,919 ) (38,500 )

Other operating income 59,017 43,270
OPERATING PROFIT 4 1,098 4,770


Interest payable and similar expenses 3,550 3,479
(LOSS)/PROFIT BEFORE TAXATION (2,452 ) 1,291

Tax on (loss)/profit 5 - 250
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(2,452

)

1,041

LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 120,000 120,000
Tangible assets 7 5,000 6,000
125,000 126,000

CURRENT ASSETS
Stocks 8 - 12,500
Debtors 9 3,053 4,712
Cash at bank and in hand 397 1,271
3,450 18,483
CREDITORS
Amounts falling due within one year 10 58,574 67,663
NET CURRENT LIABILITIES (55,124 ) (49,180 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,876

76,820

CREDITORS
Amounts falling due after more than one
year

11

71,227

75,719
NET (LIABILITIES)/ASSETS (1,351 ) 1,101

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 13 (1,352 ) 1,100
SHAREHOLDERS' FUNDS (1,351 ) 1,101

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)

BALANCE SHEET - continued
30 APRIL 2024


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

The financial statements were approved by the director and authorised for issue on 13 February 2025 and were signed by:





S P Boyle - Director


LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

LONDON DISCOUNT 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£    £   
Wages and salaries - 22,590

The average number of employees during the year was as follows:
30.4.24 30.4.23

Management 1 1
Operatives - 1
1 2

4. OPERATING PROFIT

The operating profit is stated after charging:

30.4.24 30.4.23
£    £   
Depreciation - owned assets 1,000 1,000

5. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
30.4.24 30.4.23
£    £   
Current tax:
UK corporation tax - 250
Tax on (loss)/profit - 250

UK corporation tax has been charged at 19% .

6. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 120,000
NET BOOK VALUE
At 30 April 2024 120,000
At 30 April 2023 120,000

LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

7. TANGIBLE FIXED ASSETS
Plant and Motor
machinery Vehicles Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 8,524 5,000 13,524
DEPRECIATION
At 1 May 2023 4,024 3,500 7,524
Charge for year 500 500 1,000
At 30 April 2024 4,524 4,000 8,524
NET BOOK VALUE
At 30 April 2024 4,000 1,000 5,000
At 30 April 2023 4,500 1,500 6,000

8. STOCKS
30.4.24 30.4.23
£    £   
Stock in Trade - 12,500

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other Debtors 3,053 3,550
Value Added Tax - 1,162
3,053 4,712

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Corporation Tax 3,114 3,053
Directors Loan Account 50,515 60,365
Accrued Expenses 4,945 4,245
58,574 67,663

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Other loans - 2-5 years 36,227 40,719
Other Creditors 35,000 35,000
71,227 75,719

LONDON DISCOUNT TYRES LIMITED (Registered number: 11304880)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1 Ordinary Shares £1 1 1

13. RESERVES
Retained
earnings
£   

At 1 May 2023 1,100
Deficit for the year (2,452 )
At 30 April 2024 (1,352 )