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REGISTERED NUMBER: 05655700 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ROADSTAR TYRES & EXHAUST CENTRES LIMITED

ROADSTAR TYRES & EXHAUST CENTRES LIMITED (REGISTERED NUMBER: 05655700)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ROADSTAR TYRES & EXHAUST CENTRES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S A Sharpley
S M Sharpley





SECRETARY: S M Sharpley





REGISTERED OFFICE: 34-40 High Street
Wanstead
London
E11 2RJ





REGISTERED NUMBER: 05655700 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
Waterhouse Business Centre
Unit 53
2 Cromar Way
Chelmsford
Essex
CM1 2QE

ROADSTAR TYRES & EXHAUST CENTRES LIMITED (REGISTERED NUMBER: 05655700)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,750 9,000
Tangible assets 5 65,539 71,114
72,289 80,114

CURRENT ASSETS
Stocks 35,000 45,000
Debtors 6 17,543 57,431
Cash at bank 60,559 72,388
113,102 174,819
CREDITORS
Amounts falling due within one year 7 102,656 181,438
NET CURRENT ASSETS/(LIABILITIES) 10,446 (6,619 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,735

73,495

CREDITORS
Amounts falling due after more than one year 8 (9,889 ) (19,669 )

PROVISIONS FOR LIABILITIES (15,085 ) (16,194 )
NET ASSETS 57,761 37,632

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,661 37,532
57,761 37,632

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 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.

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 Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:



S A Sharpley - Director


ROADSTAR TYRES & EXHAUST CENTRES LIMITED (REGISTERED NUMBER: 05655700)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Roadstar Tyres & Exhaust Centres 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.

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

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.

Going concern
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods and services supplied, net of returns, discounts and value added taxes.

Revenue is recognised when goods are delivered to the customer, such that the risks and rewards of ownership have passed to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of fifteen 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.
Improvements to property - 5% on reducing balance
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and selling price, 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.


ROADSTAR TYRES & EXHAUST CENTRES LIMITED (REGISTERED NUMBER: 05655700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 33,750
AMORTISATION
At 1 July 2023 24,750
Charge for year 2,250
At 30 June 2024 27,000
NET BOOK VALUE
At 30 June 2024 6,750
At 30 June 2023 9,000

ROADSTAR TYRES & EXHAUST CENTRES LIMITED (REGISTERED NUMBER: 05655700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 2,726 129,135 21,100 6,250 159,211
Additions - 6,434 - - 6,434
At 30 June 2024 2,726 135,569 21,100 6,250 165,645
DEPRECIATION
At 1 July 2023 1,222 70,336 12,757 3,782 88,097
Charge for year 75 9,478 2,086 370 12,009
At 30 June 2024 1,297 79,814 14,843 4,152 100,106
NET BOOK VALUE
At 30 June 2024 1,429 55,755 6,257 2,098 65,539
At 30 June 2023 1,504 58,799 8,343 2,468 71,114

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,893 37,431
Other debtors 650 20,000
17,543 57,431

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 37,377 87,349
Taxation and social security 21,489 20,017
Other creditors 33,790 64,072
102,656 181,438

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 9,889 19,669

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 year 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,889 19,669

ROADSTAR TYRES & EXHAUST CENTRES LIMITED (REGISTERED NUMBER: 05655700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. LOANS - continued

The bank loan is supported and secured by the UK Government's Bounce Back Loan Scheme (BBLS). Interest is applied at a fixed rate of 2.5% and the balance is repayable over 120 months with the first payment due 12 months after inception.

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 53,600 50,800
Between one and five years 80,800 128,500
134,400 179,300

11. RELATED PARTY DISCLOSURES

The directors' loans to the company totalling £30,786 (2023: £59,280) are interest free and repayable on demand.