IRIS Accounts Production v24.3.2.46 01023316 director 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010233162023-08-31010233162024-08-31010233162023-09-012024-08-31010233162022-08-31010233162022-09-012023-08-31010233162023-08-3101023316ns15:EnglandWales2023-09-012024-08-3101023316ns14:PoundSterling2023-09-012024-08-3101023316ns10:Director12023-09-012024-08-3101023316ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3101023316ns10:SmallEntities2023-09-012024-08-3101023316ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3101023316ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3101023316ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3101023316ns10:FullAccounts2023-09-012024-08-3101023316ns10:CompanySecretary12023-09-012024-08-3101023316ns10:RegisteredOffice2023-09-012024-08-3101023316ns5:CurrentFinancialInstruments2024-08-3101023316ns5:CurrentFinancialInstruments2023-08-3101023316ns5:Non-currentFinancialInstruments2024-08-3101023316ns5:Non-currentFinancialInstruments2023-08-3101023316ns5:ShareCapital2024-08-3101023316ns5:ShareCapital2023-08-3101023316ns5:RetainedEarningsAccumulatedLosses2024-08-3101023316ns5:RetainedEarningsAccumulatedLosses2023-08-3101023316ns5:LongLeaseholdAssetsns5:LandBuildings2023-09-012024-08-3101023316ns5:LeaseholdImprovements2023-09-012024-08-3101023316ns5:PlantMachinery2023-09-012024-08-3101023316ns5:MotorVehicles2023-09-012024-08-3101023316ns5:ComputerEquipment2023-09-012024-08-3101023316ns5:LongLeaseholdAssetsns5:LandBuildings2023-08-3101023316ns5:LeaseholdImprovements2023-08-3101023316ns5:PlantMachinery2023-08-3101023316ns5:LongLeaseholdAssetsns5:LandBuildings2024-08-3101023316ns5:LeaseholdImprovements2024-08-3101023316ns5:PlantMachinery2024-08-3101023316ns5:LongLeaseholdAssetsns5:LandBuildings2023-08-3101023316ns5:LeaseholdImprovements2023-08-3101023316ns5:PlantMachinery2023-08-3101023316ns5:FurnitureFittings2023-08-3101023316ns5:MotorVehicles2023-08-3101023316ns5:ComputerEquipment2023-08-3101023316ns5:FurnitureFittings2023-09-012024-08-3101023316ns5:FurnitureFittings2024-08-3101023316ns5:MotorVehicles2024-08-3101023316ns5:ComputerEquipment2024-08-3101023316ns5:FurnitureFittings2023-08-3101023316ns5:MotorVehicles2023-08-3101023316ns5:ComputerEquipment2023-08-3101023316ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3101023316ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3101023316ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-08-3101023316ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-08-31



























TADWORTH TYRE SPECIALISTS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024






TADWORTH TYRE SPECIALISTS LIMITED (REGISTERED NUMBER: 01023316)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TADWORTH TYRE SPECIALISTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTOR: D Hamilton





SECRETARY: Ms L Quinn





REGISTERED OFFICE: 90 The Avenue
Tadworth
Surrey
KT20 5AA





REGISTERED NUMBER: 01023316 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

TADWORTH TYRE SPECIALISTS LIMITED (REGISTERED NUMBER: 01023316)

BALANCE SHEET
31ST AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,659 140,973

CURRENT ASSETS
Stocks 5 249,510 250,164
Debtors 6 88,059 77,025
Cash at bank and in hand 174,626 161,087
512,195 488,276
CREDITORS
Amounts falling due within one year 7 203,490 205,369
NET CURRENT ASSETS 308,705 282,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

400,364

423,880

CREDITORS
Amounts falling due after more than one
year

8

(24,986

)

(35,694

)

PROVISIONS FOR LIABILITIES (17,415 ) (26,785 )
NET ASSETS 357,963 361,401

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 357,813 361,251
SHAREHOLDERS' FUNDS 357,963 361,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

TADWORTH TYRE SPECIALISTS LIMITED (REGISTERED NUMBER: 01023316)

BALANCE SHEET - continued
31ST AUGUST 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 31st March 2025 and were signed by:





D Hamilton - Director


TADWORTH TYRE SPECIALISTS LIMITED (REGISTERED NUMBER: 01023316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

Tadworth Tyre Specialists 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 5% on cost
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

TADWORTH TYRE SPECIALISTS LIMITED (REGISTERED NUMBER: 01023316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1st September 2023 28,146 70,024 177,583
Additions - - -
Disposals - (70,024 ) -
At 31st August 2024 28,146 - 177,583
DEPRECIATION
At 1st September 2023 19,496 34,029 117,984
Charge for year 832 3,501 8,940
Eliminated on disposal - (37,530 ) -
At 31st August 2024 20,328 - 126,924
NET BOOK VALUE
At 31st August 2024 7,818 - 50,659
At 31st August 2023 8,650 35,995 59,599

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st September 2023 2,638 84,334 13,434 376,159
Additions - 7,255 648 7,903
Disposals - - - (70,024 )
At 31st August 2024 2,638 91,589 14,082 314,038
DEPRECIATION
At 1st September 2023 2,286 48,318 13,073 235,186
Charge for year 88 10,818 544 24,723
Eliminated on disposal - - - (37,530 )
At 31st August 2024 2,374 59,136 13,617 222,379
NET BOOK VALUE
At 31st August 2024 264 32,453 465 91,659
At 31st August 2023 352 36,016 361 140,973

5. STOCKS
31.8.24 31.8.23
£    £   
Stocks 249,510 250,164

TADWORTH TYRE SPECIALISTS LIMITED (REGISTERED NUMBER: 01023316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 73,070 59,679
Other debtors 221 -
Prepayments and accrued income 14,768 17,346
88,059 77,025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 142,514 156,485
Tax 19,589 14,970
Social security and other taxes 5,166 4,500
VAT 34,103 27,044
Other creditors 1,050 1,000
Directors' current accounts 29 400
Accrued expenses 1,039 970
203,490 205,369

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 2-5 years 24,986 35,694

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £29 to D Hamilton, the director and shareholder of the company .The amount is interest free and repayable on demand.