Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-3082023-07-018falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01326248 2023-07-01 2024-09-30 01326248 2022-07-01 2023-06-30 01326248 2024-09-30 01326248 2023-06-30 01326248 c:Director1 2023-07-01 2024-09-30 01326248 d:PlantMachinery 2023-07-01 2024-09-30 01326248 d:PlantMachinery 2024-09-30 01326248 d:PlantMachinery 2023-06-30 01326248 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-09-30 01326248 d:FurnitureFittings 2023-07-01 2024-09-30 01326248 d:FurnitureFittings 2024-09-30 01326248 d:FurnitureFittings 2023-06-30 01326248 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-09-30 01326248 d:OfficeEquipment 2023-07-01 2024-09-30 01326248 d:OfficeEquipment 2024-09-30 01326248 d:OfficeEquipment 2023-06-30 01326248 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-09-30 01326248 d:OwnedOrFreeholdAssets 2023-07-01 2024-09-30 01326248 d:CurrentFinancialInstruments 2024-09-30 01326248 d:CurrentFinancialInstruments 2023-06-30 01326248 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 01326248 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01326248 d:ShareCapital 2024-09-30 01326248 d:ShareCapital 2023-06-30 01326248 d:CapitalRedemptionReserve 2024-09-30 01326248 d:CapitalRedemptionReserve 2023-06-30 01326248 d:RetainedEarningsAccumulatedLosses 2024-09-30 01326248 d:RetainedEarningsAccumulatedLosses 2023-06-30 01326248 c:FRS102 2023-07-01 2024-09-30 01326248 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-09-30 01326248 c:FullAccounts 2023-07-01 2024-09-30 01326248 c:PrivateLimitedCompanyLtd 2023-07-01 2024-09-30 01326248 2 2023-07-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 01326248









GREEN MAN TYRE & EXHAUST LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
GREEN MAN TYRE & EXHAUST LIMITED
REGISTERED NUMBER: 01326248

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

30 September
30 June
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1,701

  
-
1,701

Current assets
  

Stocks
  
-
10,301

Debtors: amounts falling due within one year
 5 
12,932
10,618

Cash at bank and in hand
 6 
1,212
108,624

  
14,144
129,543

Creditors: amounts falling due within one year
 7 
(14,027)
(59,403)

Net current assets
  
 
 
117
 
 
70,140

Total assets less current liabilities
  
117
71,841

  

Net assets
  
117
71,841


Capital and reserves
  

Called up share capital 
  
55
55

Capital redemption reserve
  
45
45

Profit and loss account
  
17
71,741

  
117
71,841


Page 1

 
GREEN MAN TYRE & EXHAUST LIMITED
REGISTERED NUMBER: 01326248
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S P Turner
Director

Date: 25 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GREEN MAN TYRE & EXHAUST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

Green Man Tyre & Exhaust Limited is a private company limited by shares, incorporated in England and Wales. The registered office is 1308 High Road, Whetstone, London, N20 9HJ and the company registration number is 01326248. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company ceased trading during the period. The financial statements have therefore been prepared on a basis other than that of a going concern. As such, debtors have been written down to their recoverable amounts and full provision has been made for anticpated expenses.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
GREEN MAN TYRE & EXHAUST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
GREEN MAN TYRE & EXHAUST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
4 years straight line
Fixtures and fittings
-
4 years straight line
Office equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
GREEN MAN TYRE & EXHAUST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 8 (2023 - 8).

Page 6

 
GREEN MAN TYRE & EXHAUST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£





At 1 July 2023
52,791
9,583
8,138
70,512


Disposals
(52,791)
(9,583)
(8,138)
(70,512)



At 30 September 2024

-
-
-
-





At 1 July 2023
51,248
9,583
7,980
68,811


Charge for the period on owned assets
425
-
158
583


Disposals
(51,673)
(9,583)
(8,138)
(69,394)



At 30 September 2024

-
-
-
-



Net book value



At 30 September 2024
-
-
-
-



At 30 June 2023
1,543
-
158
1,701


5.


Debtors

30 September
30 June
2024
2023
£
£


Trade debtors
-
6,190

Other debtors
12,932
-

Prepayments and accrued income
-
4,428

12,932
10,618


Page 7

 
GREEN MAN TYRE & EXHAUST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

6.


Cash and cash equivalents

30 September
30 June
2024
2023
£
£

Cash at bank and in hand
1,212
108,624

1,212
108,624



7.


Creditors: Amounts falling due within one year

30 September
30 June
2024
2023
£
£

Trade creditors
2,634
23,011

Corporation tax
-
13,306

Other taxation and social security
-
15,930

Other creditors
1,015
1,934

Accruals and deferred income
10,378
5,222

14,027
59,403



8.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions paid in the year by the company to the fund and amounted to £62,357 (2023 - £56,077). Contributions totalling £18 (2023 - £286) were payable to the fund at the balance sheet date and are included in creditors.


9.


Controlling party

The immediate and ultimate parent company is Green Man Tyre & Exhaust (Holdings) Limited due to the interest in 100% of the company's issued share capital.

S P Turner, the director of Green Man Tyre & Exhaust (Holdings) Limited is the ultimate controlling party of Green Man Tyre & Exhaust Limited.

 
Page 8