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B + T TYRE & EXHAUST CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2024






B + T TYRE & EXHAUST CENTRE LIMITED (REGISTERED NUMBER: 01578555)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

B + T TYRE & EXHAUST CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: L Watson
K Darton





SECRETARY: C L Watson





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate
Kempston
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 01578555 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

B + T TYRE & EXHAUST CENTRE LIMITED (REGISTERED NUMBER: 01578555)

BALANCE SHEET
31ST JULY 2024

31/7/24 31/7/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 184,746 119,109

CURRENT ASSETS
Stocks 34,214 61,167
Debtors 5 233,218 232,543
Cash at bank and in hand 108,295 245,611
375,727 539,321
CREDITORS
Amounts falling due within one year 6 403,061 393,094
NET CURRENT (LIABILITIES)/ASSETS (27,334 ) 146,227
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,412

265,336

PROVISIONS FOR LIABILITIES 9,355 12,479
NET ASSETS 148,057 252,857

CAPITAL AND RESERVES
Called up share capital 52 52
Retained earnings 148,005 252,805
SHAREHOLDERS' FUNDS 148,057 252,857

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

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

B + T TYRE & EXHAUST CENTRE LIMITED (REGISTERED NUMBER: 01578555)

BALANCE SHEET - continued
31ST JULY 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th April 2025 and were signed on its behalf by:





L Watson - Director


B + T TYRE & EXHAUST CENTRE LIMITED (REGISTERED NUMBER: 01578555)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

B + T Tyre & Exhaust Centre 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.

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

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for goods supplied, stated net of rebates, discounts, returns, value added taxes and other sales taxes or duty.
The company recognises revenue when performance obligations have been satisfied and for the company this is when the goods have transferred or service provided to the customer and the customer has control of these. For goods, control is considered to have passed to the customer upon delivery. The company bases its estimate of rebates and returns on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


B + T TYRE & EXHAUST CENTRE LIMITED (REGISTERED NUMBER: 01578555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st August 2023 121,473 20,308 108,408 14,081 264,270
Additions - 300 246,647 1,569 248,516
Disposals - - (178,108 ) - (178,108 )
At 31st July 2024 121,473 20,608 176,947 15,650 334,678
DEPRECIATION
At 1st August 2023 105,094 17,574 13,178 9,315 145,161
Charge for year 3,279 425 12,135 1,614 17,453
Eliminated on disposal - - (12,682 ) - (12,682 )
At 31st July 2024 108,373 17,999 12,631 10,929 149,932
NET BOOK VALUE
At 31st July 2024 13,100 2,609 164,316 4,721 184,746
At 31st July 2023 16,379 2,734 95,230 4,766 119,109

B + T TYRE & EXHAUST CENTRE LIMITED (REGISTERED NUMBER: 01578555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 31,978 52,015
Directors' current accounts 151,735 155,404
Tax 41,086 18,699
Prepayments and accrued income 8,419 6,425
233,218 232,543

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade creditors 168,461 260,767
Corporation tax 42,246 46,723
Social security and other taxes 11,000 6,177
VAT 81,102 69,018
Other creditors 8,367 5,228
Shareholder's loan 26,489 219
Accrued expenses 65,396 4,962
403,061 393,094

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/7/24 31/7/23
£    £   
Within one year 34,000 34,000
Between one and five years 136,000 136,000
In more than five years 238,000 272,002
408,000 442,002

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st July 2024 and 31st July 2023:

31/7/24 31/7/23
£    £   
L Watson
Balance outstanding at start of year 155,404 112,969
Amounts advanced 96,331 42,435
Amounts repaid (100,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 151,735 155,404

B + T TYRE & EXHAUST CENTRE LIMITED (REGISTERED NUMBER: 01578555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

9. POST BALANCE SHEET EVENTS

On the 20th August 2024 the company agreed to buy-back 17 shares for a consideration of £120,000.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
B + T TYRE & EXHAUST CENTRE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B + T Tyre & Exhaust Centre Limited for the year ended 31st July 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of B + T Tyre & Exhaust Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of B + T Tyre & Exhaust Centre Limited and state those matters that we have agreed to state to the Board of Directors of B + T Tyre & Exhaust Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B + T Tyre & Exhaust Centre Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that B + T Tyre & Exhaust Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of B + T Tyre & Exhaust Centre Limited. You consider that B + T Tyre & Exhaust Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of B + T Tyre & Exhaust Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


29th April 2025