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REGISTERED NUMBER: 03422072 (England and Wales)











Avenue Tyres Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Avenue Tyres Limited (Registered number: 03422072)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Avenue Tyres Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: G C Beacom
W A Beacom





SECRETARY: Ms M Beacom





REGISTERED OFFICE: Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF





REGISTERED NUMBER: 03422072 (England and Wales)





ACCOUNTANTS: Haines Watts
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Avenue Tyres Limited (Registered number: 03422072)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,291 29,901

CURRENT ASSETS
Stocks 40,855 41,970
Debtors 5 191,385 171,577
Cash at bank and in hand 375,837 389,978
608,077 603,525
CREDITORS
Amounts falling due within one year 6 411,591 382,377
NET CURRENT ASSETS 196,486 221,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,777

251,049

PROVISIONS FOR LIABILITIES 4,615 5,681
NET ASSETS 216,162 245,368

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 216,062 245,268
SHAREHOLDERS' FUNDS 216,162 245,368

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 February 2025 and were signed on its behalf by:





G C Beacom - Director


Avenue Tyres Limited (Registered number: 03422072)

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


1. STATUTORY INFORMATION

Avenue Tyres 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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.

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 - 11 ) .

Avenue Tyres Limited (Registered number: 03422072)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 74,355 18,943 67,610 160,908
Additions - 457 - 457
At 31 August 2024 74,355 19,400 67,610 161,365
DEPRECIATION
At 1 September 2023 60,171 18,117 52,719 131,007
Charge for year 2,143 200 3,724 6,067
At 31 August 2024 62,314 18,317 56,443 137,074
NET BOOK VALUE
At 31 August 2024 12,041 1,083 11,167 24,291
At 31 August 2023 14,184 826 14,891 29,901

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 189,893 170,133
Other debtors 1,492 1,444
191,385 171,577

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 293,585 345,043
Taxation and social security 40,179 14,263
Other creditors 77,827 23,071
411,591 382,377

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

8. RELATED PARTY DISCLOSURES

Other creditors includes an amount of £29,500 (2023 - £9,036) due to G C Beacom a director of the company. The loan has no fixed payment terms and is interest free.

Other creditors includes an amount of £38,536 (2023 - £9,036) due to W A Beacom a director of the company. The loan has no fiixed payment terms and is interest free.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.