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REGISTERED NUMBER: 04598476 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 APRIL 2024

FOR

BIDDULPH EXHAUST & TYRE LIMITED

BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 8


BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

STATEMENT OF FINANCIAL POSITION
27 APRIL 2024

27.4.24 27.4.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 23,837 27,840
23,837 27,840

CURRENT ASSETS
Inventories 16,150 16,000
Debtors 6 36,170 29,600
52,320 45,600
CREDITORS
Amounts falling due within one year 7 (71,084 ) (64,700 )
NET CURRENT LIABILITIES (18,764 ) (19,100 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,073

8,740

PROVISIONS FOR LIABILITIES (2,831 ) (3,131 )
NET ASSETS 2,242 5,609

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,142 5,509
2,242 5,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 April 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.

BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

STATEMENT OF FINANCIAL POSITION - continued
27 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





R J Morrey - Director


BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024


1. STATUTORY INFORMATION

BIDDULPH EXHAUST & TYRE LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04598476

Registered office: c/o DPC
Stone House, Stone Road Business Park
Stone Road
Stoke-On-Trent
Staffordshire
ST4 6SR

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

(i) Estimated useful lives and residual values of fixed assets

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

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

Revenue from the rendering of services is recognised by reference to the stage of completion at the balance sheet date; the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was amortised evenly over its estimated useful life of ten years. This is now fully amortised.

BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 APRIL 2024


2. ACCOUNTING POLICIES - continued

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.
Plant and machinery - 10% reducing balance
Fixtures and fittings - 10% reducing balance
Motor vehicles - 25% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

STOCKS
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 APRIL 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 APRIL 2024


2. ACCOUNTING POLICIES - continued

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.

PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 28 April 2023
and 27 April 2024 10,529
AMORTISATION
At 28 April 2023
and 27 April 2024 10,529
NET BOOK VALUE
At 27 April 2024 -
At 27 April 2023 -

BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 APRIL 2024


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 28 April 2023 5,885 102,919 42,469 12,900 164,173
Disposals - - - (1,800 ) (1,800 )
At 27 April 2024 5,885 102,919 42,469 11,100 162,373
DEPRECIATION
At 28 April 2023 5,885 86,487 35,395 8,566 136,333
Charge for year - 1,643 707 894 3,244
Eliminated on disposal - - - (1,041 ) (1,041 )
At 27 April 2024 5,885 88,130 36,102 8,419 138,536
NET BOOK VALUE
At 27 April 2024 - 14,789 6,367 2,681 23,837
At 27 April 2023 - 16,432 7,074 4,334 27,840

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.4.24 27.4.23
£    £   
Trade debtors 20,484 14,854
Amounts owed by group undertakings 13,469 12,967
Other debtors 2,217 1,779
36,170 29,600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.4.24 27.4.23
£    £   
Bank loans and overdrafts 1,804 3,045
Hire purchase contracts - 1,667
Trade creditors 21,633 28,148
Taxation and social security 44,494 28,449
Other creditors 3,153 3,391
71,084 64,700

8. SECURED DEBTS

The hire purchase liabilities are secured on the related assets.

9. RELATED PARTY DISCLOSURES

All transactions undertaken with the directors and shareholders are deemed to be conducted under normal market conditions and/or are not material.

BIDDULPH EXHAUST & TYRE LIMITED (REGISTERED NUMBER: 04598476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 APRIL 2024


10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the holding company, R Morrey Limited. The parent undertaking's registered office is c/o DPC Accountants, Stone House, 55 Stone Road Business Park, Stoke on Trent, Staffordshire, ST4 6SR.