IRIS Accounts Production v25.1.0.734 04133264 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false 7869 20126 7869 27995 7869 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041332642023-12-31041332642024-12-31041332642024-01-012024-12-31041332642022-12-31041332642023-01-012023-12-31041332642023-12-3104133264ns15:EnglandWales2024-01-012024-12-3104133264ns14:PoundSterling2024-01-012024-12-3104133264ns10:Director12024-01-012024-12-3104133264ns10:Director22024-01-012024-12-3104133264ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3104133264ns10:SmallEntities2024-01-012024-12-3104133264ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3104133264ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3104133264ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3104133264ns10:FullAccounts2024-01-012024-12-310413326412024-01-012024-12-3104133264ns10:Director2422023-12-3104133264ns10:Director2422024-01-012024-12-3104133264ns10:Director2422023-01-012023-12-3104133264ns10:Director2422024-12-3104133264ns10:Director2422023-12-3104133264ns10:CompanySecretary12024-01-012024-12-3104133264ns10:RegisteredOffice2024-01-012024-12-3104133264ns5:CurrentFinancialInstruments2024-12-3104133264ns5:CurrentFinancialInstruments2023-12-3104133264ns5:Non-currentFinancialInstruments2024-12-3104133264ns5:Non-currentFinancialInstruments2023-12-3104133264ns5:ShareCapital2024-12-3104133264ns5:ShareCapital2023-12-3104133264ns5:RevaluationReserve2024-12-3104133264ns5:RevaluationReserve2023-12-3104133264ns5:RetainedEarningsAccumulatedLosses2024-12-3104133264ns5:RetainedEarningsAccumulatedLosses2023-12-3104133264ns5:NetGoodwill2024-01-012024-12-3104133264ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3104133264ns5:LandBuildings2024-01-012024-12-3104133264ns5:PlantMachinery2024-01-012024-12-3104133264ns5:NetGoodwill2023-12-3104133264ns5:NetGoodwill2024-12-3104133264ns5:NetGoodwill2023-12-3104133264ns5:LandBuildings2023-12-3104133264ns5:PlantMachinery2023-12-3104133264ns5:LandBuildings2024-12-3104133264ns5:PlantMachinery2024-12-3104133264ns5:LandBuildings2023-12-3104133264ns5:PlantMachinery2023-12-3104133264ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3104133264ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3104133264ns5:RevaluationReserve2023-12-31041332641ns10:Director12023-12-31041332641ns10:Director12022-12-31041332641ns10:Director12024-01-012024-12-31041332641ns10:Director12023-01-012023-12-31041332641ns10:Director12024-12-31041332641ns10:Director12023-12-31
REGISTERED NUMBER: 04133264 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 December 2024

for

Weeley Tyre & Exhaust Limited

Weeley Tyre & Exhaust Limited (Registered number: 04133264)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Weeley Tyre & Exhaust Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R S Chappell
Ms S F Lissimore





SECRETARY: Ms S F Lissimore





REGISTERED OFFICE: Rusty Tiles
Coggeshall Road
Dedham
Essex
CO7 6ET





REGISTERED NUMBER: 04133264 (England and Wales)

Weeley Tyre & Exhaust Limited (Registered number: 04133264)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 5,250 5,250
Tangible assets 5 18,868 238,894
24,118 244,144

CURRENT ASSETS
Stocks 10,740 13,513
Debtors 6 36,311 16,234
Cash at bank and in hand 140,028 10,041
187,079 39,788
CREDITORS
Amounts falling due within one year 7 83,715 118,307
NET CURRENT ASSETS/(LIABILITIES) 103,364 (78,519 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,482

165,625

CREDITORS
Amounts falling due after more than one
year

8

(3,525

)

(7,650

)

PROVISIONS FOR LIABILITIES (3,585 ) (4,350 )
NET ASSETS 120,372 153,625

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 - 109,865
Retained earnings 120,272 43,660
120,372 153,625

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

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

Weeley Tyre & Exhaust Limited (Registered number: 04133264)

Balance Sheet - continued
31 December 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 16 April 2025 and were signed on its behalf by:




R S Chappell - Director



Ms S F Lissimore - Director


Weeley Tyre & Exhaust Limited (Registered number: 04133264)

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


1. STATUTORY INFORMATION

Weeley Tyre & Exhaust 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.

For the purposes of presentation the financial statements are rounded to the nearest 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty 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.
Land and buildings - straight line over 3 years and in accordance with the property
Plant and machinery etc - 25% on reducing balance and 15% 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.


Weeley Tyre & Exhaust Limited (Registered number: 04133264)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 105,000
AMORTISATION
At 1 January 2024
and 31 December 2024 99,750
NET BOOK VALUE
At 31 December 2024 5,250
At 31 December 2023 5,250

Weeley Tyre & Exhaust Limited (Registered number: 04133264)

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


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 225,000 134,722 359,722
Disposals (225,000 ) - (225,000 )
At 31 December 2024 - 134,722 134,722
DEPRECIATION
At 1 January 2024 9,000 111,828 120,828
Charge for year - 4,026 4,026
Eliminated on disposal (9,000 ) - (9,000 )
At 31 December 2024 - 115,854 115,854
NET BOOK VALUE
At 31 December 2024 - 18,868 18,868
At 31 December 2023 216,000 22,894 238,894

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,733 8,007
Other debtors 28,578 8,227
36,311 16,234

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 26,001 22,817
Trade creditors 49,020 72,422
Taxation and social security 7,126 21,450
Other creditors 1,568 1,618
83,715 118,307

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 3,525 7,650

Weeley Tyre & Exhaust Limited (Registered number: 04133264)

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


9. RESERVES
Revaluatio
reserve
£   
At 1 January 2024 109,865
Revaluation (109,865 )

At 31 December 2024 -

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
R S Chappell and Ms S F Lissimore
Balance outstanding at start of year 7,869 -
Amounts advanced 20,126 7,869
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,995 7,869

Interest has been charged on the loan account at a rate of 2.25%. The loan was cleared by way of a dividend dated 16/04/2025.