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REGISTERED NUMBER: 00746893 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Ton Tyre Auto Limited

Ton Tyre Auto Limited (Registered number: 00746893)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ton Tyre Auto Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: R J Edwards
R Kenworthy





SECRETARY: R Kenworthy





REGISTERED OFFICE: 9 Eldon Way
Paddock Wood
Kent
TN12 6BE





REGISTERED NUMBER: 00746893 (England and Wales)





ACCOUNTANTS: Iden Business Services Limited
2 Garden Close
Staplehurst
Kent
TN12 0EW

Ton Tyre Auto Limited (Registered number: 00746893)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,090,873 1,052,145

CURRENT ASSETS
Stocks 6,624 7,032
Debtors 5 114,001 109,677
Cash at bank and in hand 112,680 203,680
233,305 320,389
CREDITORS
Amounts falling due within one year 6 284,782 269,605
NET CURRENT (LIABILITIES)/ASSETS (51,477 ) 50,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,039,396

1,102,929

CREDITORS
Amounts falling due after more than one
year

7

(99,493

)

(76,331

)

PROVISIONS FOR LIABILITIES 10 (154,399 ) (151,881 )
NET ASSETS 785,504 874,717

CAPITAL AND RESERVES
Called up share capital 11 900 900
Revaluation reserve 12 173,321 173,321
Capital redemption reserve 100 100
Retained earnings 611,183 700,396
SHAREHOLDERS' FUNDS 785,504 874,717

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

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

Ton Tyre Auto Limited (Registered number: 00746893)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





R J Edwards - Director


Ton Tyre Auto Limited (Registered number: 00746893)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Ton Tyre Auto 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.

Significant judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.

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.
Land and buildings - not provided and in accordance with the property
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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.

Ton Tyre Auto Limited (Registered number: 00746893)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 296,098 1,385,690 1,681,788
Additions - 383,014 383,014
Disposals - (419,402 ) (419,402 )
At 31 July 2024 296,098 1,349,302 1,645,400
DEPRECIATION
At 1 August 2023 42,383 587,260 629,643
Charge for year 3,715 189,294 193,009
Eliminated on disposal - (268,125 ) (268,125 )
At 31 July 2024 46,098 508,429 554,527
NET BOOK VALUE
At 31 July 2024 250,000 840,873 1,090,873
At 31 July 2023 253,715 798,430 1,052,145

Included in land and buildings is freehold land which at 31 July 2023 the directors have valued at £250,000.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 20,490 25,938
Other debtors 93,511 83,739
114,001 109,677

Ton Tyre Auto Limited (Registered number: 00746893)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts (see note 8) 156,964 155,546
Trade creditors 69,212 64,668
Taxation and social security 15,068 6,470
Other creditors 43,538 42,921
284,782 269,605

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts (see note 8) 99,493 76,331

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.7.24 31.7.23
£    £   
Net obligations repayable:
Within one year 156,964 155,546
Between one and five years 99,493 76,331
256,457 231,877

Non-cancellable operating leases
31.7.24 31.7.23
£    £   
Within one year - 36,300
Between one and five years - 8,044
- 44,344

Ton Tyre Auto Limited (Registered number: 00746893)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

9. FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to
the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.

10. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax
Accelerated capital allowances 190,927 149,497
Tax losses (85,067 ) (49,155 )
Revaluations 48,539 51,539
154,399 151,881

Deferred
tax
£   
Balance at 1 August 2023 151,881
Provided during year 2,518
Balance at 31 July 2024 154,399

Ton Tyre Auto Limited (Registered number: 00746893)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
800 Ordinary shares 1 800 800
100 Ordinary "B" shares 1 100 100
900 900

12. RESERVES
Revaluation
reserve
£   
At 1 August 2023
and 31 July 2024 173,321