Silverfin false false 28/02/2025 01/03/2024 28/02/2025 Albert Hathaway 12/09/2024 Emily Hathaway 22/09/2020 Marcus Oliver Hathaway 10/01/2011 16 April 2025 The principal activity of the Company during the financial year was business software development, installation and monitoring. 07487064 2025-02-28 07487064 bus:Director1 2025-02-28 07487064 bus:Director2 2025-02-28 07487064 bus:Director3 2025-02-28 07487064 2024-02-29 07487064 core:CurrentFinancialInstruments 2025-02-28 07487064 core:CurrentFinancialInstruments 2024-02-29 07487064 core:ShareCapital 2025-02-28 07487064 core:ShareCapital 2024-02-29 07487064 core:CapitalRedemptionReserve 2025-02-28 07487064 core:CapitalRedemptionReserve 2024-02-29 07487064 core:RetainedEarningsAccumulatedLosses 2025-02-28 07487064 core:RetainedEarningsAccumulatedLosses 2024-02-29 07487064 core:LandBuildings 2024-02-29 07487064 core:FurnitureFittings 2024-02-29 07487064 core:OfficeEquipment 2024-02-29 07487064 core:ComputerEquipment 2024-02-29 07487064 core:LandBuildings 2025-02-28 07487064 core:FurnitureFittings 2025-02-28 07487064 core:OfficeEquipment 2025-02-28 07487064 core:ComputerEquipment 2025-02-28 07487064 bus:OrdinaryShareClass1 2025-02-28 07487064 2024-03-01 2025-02-28 07487064 bus:FilletedAccounts 2024-03-01 2025-02-28 07487064 bus:SmallEntities 2024-03-01 2025-02-28 07487064 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 07487064 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 07487064 bus:Director1 2024-03-01 2025-02-28 07487064 bus:Director2 2024-03-01 2025-02-28 07487064 bus:Director3 2024-03-01 2025-02-28 07487064 core:LandBuildings 2024-03-01 2025-02-28 07487064 core:FurnitureFittings 2024-03-01 2025-02-28 07487064 core:OfficeEquipment 2024-03-01 2025-02-28 07487064 core:ComputerEquipment core:TopRangeValue 2024-03-01 2025-02-28 07487064 2023-03-01 2024-02-29 07487064 core:ComputerEquipment 2024-03-01 2025-02-28 07487064 bus:OrdinaryShareClass1 2024-03-01 2025-02-28 07487064 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07487064 (England and Wales)

TYRESOFT LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2025
Pages for filing with the registrar

TYRESOFT LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2025

Contents

TYRESOFT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 28 February 2025
TYRESOFT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 121,858 134,082
121,858 134,082
Current assets
Debtors 4 59,945 56,331
Cash at bank and in hand 240,903 492,488
300,848 548,819
Creditors: amounts falling due within one year 5 ( 175,957) ( 180,958)
Net current assets 124,891 367,861
Total assets less current liabilities 246,749 501,943
Provision for liabilities ( 4,862) ( 3,965)
Net assets 241,887 497,978
Capital and reserves
Called-up share capital 6 50 50
Capital redemption reserve 50 50
Profit and loss account 241,787 497,878
Total shareholder's funds 241,887 497,978

For the financial year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tyresoft Limited (registered number: 07487064) were approved and authorised for issue by the Board of Directors on 16 April 2025. They were signed on its behalf by:

Marcus Oliver Hathaway
Director
TYRESOFT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
TYRESOFT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tyresoft Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Left Hand Turret The Avenue, The Cross, Worcester, WR1 3QA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 15 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 7

3. Tangible assets

Land and buildings Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 March 2024 178,093 6,142 29,216 916 214,367
Additions 0 0 0 11,151 11,151
At 28 February 2025 178,093 6,142 29,216 12,067 225,518
Accumulated depreciation
At 01 March 2024 52,793 5,257 22,031 204 80,285
Charge for the financial year 18,796 221 1,796 2,562 23,375
At 28 February 2025 71,589 5,478 23,827 2,766 103,660
Net book value
At 28 February 2025 106,504 664 5,389 9,301 121,858
At 29 February 2024 125,300 885 7,185 712 134,082

4. Debtors

2025 2024
£ £
Trade debtors 20,292 20,006
Amounts owed by directors 0 ( 308)
Prepayments 39,653 36,633
59,945 56,331

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 1,840 3,528
Accruals 3,158 2,997
Taxation and social security 169,979 173,316
Other creditors 980 1,117
175,957 180,958

6. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50

7. Related party transactions

Transactions with the entity's directors

2025 2024
£ £
Amounts owed to directors 0 308

During the year repayments of £308 were made on this director's loan. At the year end there is no balance owed.