01 August 2023 31 July 2024 No principle activity is included 09702818 2023-08-01 09702818 2024-07-31 09702818 2023-08-01 2024-07-31 09702818 2023-07-31 09702818 2022-08-01 2023-07-31 09702818 uk-core:WithinOneYear 2024-07-31 09702818 uk-core:WithinOneYear 2023-07-31 09702818 uk-core:AfterOneYear 2024-07-31 09702818 uk-core:AfterOneYear 2023-07-31 09702818 uk-core:ShareCapital 2024-07-31 09702818 uk-core:ShareCapital 2023-07-31 09702818 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 09702818 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 09702818 uk-bus:Director1 2023-08-01 2024-07-31 09702818 uk-curr:PoundSterling 2023-08-01 2024-07-31 09702818 uk-core:PlantMachinery 2023-08-01 2024-07-31 09702818 uk-core:Vehicles 2023-08-01 2024-07-31 09702818 uk-core:FurnitureFittings 2023-08-01 2024-07-31 09702818 uk-core:OfficeEquipment 2023-08-01 2024-07-31 09702818 uk-core:NetGoodwill 2023-07-31 09702818 uk-core:NetGoodwill 2024-07-31 09702818 uk-core:NetGoodwill 2023-08-01 2024-07-31 09702818 uk-core:FurnitureFittingsToolsEquipment 2023-07-31 09702818 uk-core:FurnitureFittingsToolsEquipment 2024-07-31 09702818 uk-core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 09702818 uk-core:BetweenTwoFiveYears 2024-07-31 09702818 uk-core:BetweenTwoFiveYears 2023-07-31 09702818 uk-bus:FRS102 2023-08-01 2024-07-31 09702818 uk-bus:FullAccounts 2023-08-01 2024-07-31 09702818 uk-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09702818 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  BUZZY BEE TYRES LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 JULY 2024
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  BUZZY BEE TYRES LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 JULY 2024
       
       
  DIRECTORS
       
  Miss A Kelly
  Mr R North
  Mr E Kelly
  Mrs S North
       
       
  SECRETARY
       
  Miss A Kelly
       
  REGISTERED OFFICE
       
  25 Park Street West
Luton
Beds
LU1 3BE
       
       
  COMPANY REGISTERED NUMBER
       
  09702818
       
       
  BANKERS
       
  Natwest Bank plc
       
       
  ACCOUNTANTS
       
  Haartwells Limited
  Chartered Certified Accountants
  25 Park Street West
Luton
Bedfordshire
LU1 3BE
  page 1
  BUZZY BEE TYRES LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 JULY 2024
       
       
       
       
  CONTENTS
       
  Pages
       
       
  3-4 Statement of Financial Position  
       
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  BUZZY BEE TYRES LIMITED
  Company registered number: 09702818
  STATEMENT OF FINANCIAL POSITION AT 31 July 2024
           
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Intangible assets 3 73,561 77,433
  Property, plant and equipment 4 9,167 11,380
      82,728 88,813
  CURRENT ASSETS    
  Inventories   5,872 6,211
  Debtors 5 26,418 24,561
  Cash at bank and in hand   3,718 1,589
      36,008 32,361
  CREDITORS: Amounts falling due within one year 6 61,343 54,355
  NET CURRENT LIABILITIES   (25,335) (21,994)
  TOTAL ASSETS LESS CURRENT LIABILITIES   57,393 66,819
           
  CREDITORS: Amounts falling due after more than one year 7 (29,267) (34,163)
  NET ASSETS   £28,126 £32,656
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   28,026 32,556
  SHAREHOLDERS' FUNDS   £28,126 £32,656
       
  The notes on pages 5-8 form part of these financial statements
   
  page 3
  BUZZY BEE TYRES LIMITED
  Company registered number: 09702818
  STATEMENT OF FINANCIAL POSITION AT 31 July 2024 (CONT.)
           
    Note 2024 2023
      £ £ £
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  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: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 25 April 2025
 
  Signed on behalf of the board of directors
 
 
       
  Miss A Kelly, Director
       
       
  The notes on pages 5-8 form part of these financial statements
   
  page 4
  BUZZY BEE TYRES LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 JULY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Buzzy Bee Tyres Limited is a Private Limited Company incorporated in England and Wales.
         
  The company's registered number and registered office address can be found on the Company Information page.
         
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 August 2023.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. 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" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
       
1e. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1f. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
  The notes on pages 5-8 form part of these financial statements
   
  page 5
  BUZZY BEE TYRES LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JULY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1g. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1h. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1i. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1j. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2024 2023
    No. No.
  Management and administration 1 1
  Production and sales 1 5
    2 6
   
  The notes on pages 5-8 form part of these financial statements
   
  page 6
  BUZZY BEE TYRES LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JULY 2024
       
       
3. INTANGIBLE FIXED ASSETS
       
    Goodwill Total
    £ £
  Cost
       
  At 1 August 2023 105,338 105,338
  At 31 July 2024 105,338 105,338
  Amortisation
       
  At 1 August 2023 27,905 27,905
  For the year 3,872 3,872
  At 31 July 2024 31,777 31,777
   
  Net Book Amounts
       
  At 31 July 2024 73,561 73,561
  At 31 July 2023 77,433 77,433
   
       
4. PROPERTY, PLANT AND EQUIPMENT
    Fixtures &  
    Equipment Total
    £ £
  Cost
       
  At 1 August 2023 71,484 71,484
       
  At 31 July 2024 71,484 71,484
   
  Depreciation
       
  At 1 August 2023 60,104 60,104
  For the year 2,213 2,213
  At 31 July 2024 62,317 62,317
   
  Net Book Amounts
       
  At 31 July 2024 9,167 9,167
  At 31 July 2023 11,380 11,380
   
  The notes on pages 5-8 form part of these financial statements
   
  page 7
  BUZZY BEE TYRES LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JULY 2024
       
       
5. DEBTORS 2024 2023
    £ £
  Trade debtors 7,608 5,751
  Tyre me Out Ltd 18,810 18,810
    £26,418 £24,561
   
       
       
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Bank loans and overdrafts 6,518 6,518
  Trade creditors 21,130 4,749
  Corporation tax 3,955 3,955
  Other taxes and social security 1,137 7,603
  Other creditors 26,103 26,490
  Accruals and deferred income 2,500 5,040
    £61,343 £54,355
   
       
       
       
7. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2024 2023
    £ £
  Bank loans and overdrafts 29,267 34,163
    £29,267 £34,163
   
       
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 6,518 6,518
  within 2-5 years
  bank 29,267 34,163
    £35,785 £40,681
   
  The notes on pages 5-8 form part of these financial statements
   
  page 8