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REGISTERED NUMBER: 06624815 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

TYRES DIRECT ON-LINE LIMITED

TYRES DIRECT ON-LINE LIMITED (REGISTERED NUMBER: 06624815)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

TYRES DIRECT ON-LINE LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTOR: G T Oliver





SECRETARY: G T Oliver





REGISTERED OFFICE: Endeavour House
Building 50
Wrest Park
Silsoe
Bedfordshire
MK45 4HS





REGISTERED NUMBER: 06624815 (England and Wales)





ACCOUNTANTS: F E Hawkes & Co
206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS

TYRES DIRECT ON-LINE LIMITED (REGISTERED NUMBER: 06624815)

BALANCE SHEET
30 June 2024

2023 2024
£    £    Notes £    £   
FIXED ASSETS
48,127 Tangible assets 5 33,685

CURRENT ASSETS
149,716 Stocks 6 113,568
173,956 Debtors 7 85,186
391,527 Cash at bank and in hand 443,278
715,199 642,032
CREDITORS
302,043 Amounts falling due within one year 8 271,868
413,156 NET CURRENT ASSETS 370,164
461,283 TOTAL ASSETS LESS CURRENT
LIABILITIES

403,849

CREDITORS
(12,000 ) Amounts falling due after more than one year 9 (5,854 )

(7,961 ) PROVISIONS FOR LIABILITIES (4,460 )
441,322 NET ASSETS 393,535

CAPITAL AND RESERVES
2,500 Called up share capital 12 2,500
438,822 Retained earnings 13 391,035
441,322 SHAREHOLDERS' FUNDS 393,535

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

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

TYRES DIRECT ON-LINE LIMITED (REGISTERED NUMBER: 06624815)

BALANCE SHEET - continued
30 June 2024


The 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.

The financial statements were approved by the director and authorised for issue on 17 March 2025 and were signed by:





G T Oliver - Director


TYRES DIRECT ON-LINE LIMITED (REGISTERED NUMBER: 06624815)

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


1. STATUTORY INFORMATION

Tyres Direct on-Line Ltd is a private company, limited by shares and registered in England and Wales.

The company's registered number and registered office address are as follows

Registered number: 06624815

Registered office: Endeavour House
Building 50
Wrest Park
Silsoe
Bedfordshire
MK45 4HS

The presentation currency of the financial statements is in Pound Sterling (£).

The principal activity of the company in the year under review was that of the supply of tyres for motor vehicles.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statements.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value on a first in first out basis after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


TYRES DIRECT ON-LINE LIMITED (REGISTERED NUMBER: 06624815)

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


3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
Totals property machinery fittings vehicles
£    £    £    £    £   
COST
At 1 July 2023 108,919 6,038 23,493 46,388 33,000
Disposals (6,038 ) (6,038 ) - - -
At 30 June 2024 102,881 - 23,493 46,388 33,000
DEPRECIATION
At 1 July 2023 60,792 - 14,324 34,492 11,976
Charge for year 8,404 - 1,375 1,785 5,244
At 30 June 2024 69,196 - 15,699 36,277 17,220
NET BOOK VALUE
At 30 June 2024 33,685 - 7,794 10,111 15,780
At 30 June 2023 48,127 6,038 9,169 11,896 21,024

6. STOCKS
2024 2023
£    £   
Stocks 113,568 149,716

TYRES DIRECT ON-LINE LIMITED (REGISTERED NUMBER: 06624815)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 64,742 159,354
Sundry debtors & prepayments 15,914 14,602
Tax 4,530 -
85,186 173,956

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 6,000 6,000
Trade creditors 220,256 253,476
Tax - 4,533
Social security and other taxes 4,313 2,638
VAT 4,473 8,939
Directors' current accounts 9,625 11,125
Sundry creditors & accruals 27,201 15,332
271,868 302,043

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 5,854 12,000

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,000 6,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,854 6,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 6,000

TYRES DIRECT ON-LINE LIMITED (REGISTERED NUMBER: 06624815)

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


11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 16,357 30,606
Between one and five years 26,785 8,596
43,142 39,202

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,500 Ordinary £1.00 2,500 2,500

13. RESERVES
Retained
earnings
£   

At 1 July 2023 438,822
Deficit for the year (40,287 )
Dividends (7,500 )
At 30 June 2024 391,035

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £7,500 (2023 - £7,500) were paid to the director .

TYRES DIRECT ON-LINE LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
TYRES DIRECT ON-LINE LIMITED


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

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2024 set out on pages three to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






F E Hawkes & Co
206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS


17 March 2025