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Company No: 00709847 (England and Wales)

MOSS TYRES LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

MOSS TYRES LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

MOSS TYRES LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2024
MOSS TYRES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2024
DIRECTORS Nicola Jayne Knight
Mark John Stow
Richard Sidney Stow
Simon Richard Sidney Stow
SECRETARY Hilary Patricia Stow
REGISTERED OFFICE Unit 14
Kettlestring Park Kettlestring Lane
Clifton Moor
York
YO30 4XF
United Kingdom
COMPANY NUMBER 00709847 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
MOSS TYRES LIMITED

BALANCE SHEET

As at 31 July 2024
MOSS TYRES LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 77,876 351,029
77,876 351,029
Current assets
Stocks 530,731 576,129
Debtors 5 550,183 448,915
Cash at bank and in hand 6 36,148 23,962
1,117,062 1,049,006
Creditors: amounts falling due within one year 7 ( 1,106,203) ( 1,116,049)
Net current assets/(liabilities) 10,859 (67,043)
Total assets less current liabilities 88,735 283,986
Creditors: amounts falling due after more than one year 8 ( 40,593) ( 219,493)
Provision for liabilities 9 ( 14,796) ( 19,195)
Net assets 33,346 45,298
Capital and reserves
Called-up share capital 10 6,000 6,000
Profit and loss account 27,346 39,298
Total shareholders' funds 33,346 45,298

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Moss Tyres Limited (registered number: 00709847) were approved and authorised for issue by the Board of Directors on 29 April 2025. They were signed on its behalf by:

Richard Sidney Stow
Director
MOSS TYRES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
MOSS TYRES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
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

Moss Tyres 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 Unit 14, Kettlestring Park Kettlestring Lane, Clifton Moor, York, YO30 4XF, 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 £.

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 Balance Sheet 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.

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 Balance Sheet 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property 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 not depreciated
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 3 years straight line
15 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 22 24

.

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2023 70,502 70,502
At 31 July 2024 70,502 70,502
Accumulated amortisation
At 01 August 2023 70,502 70,502
At 31 July 2024 70,502 70,502
Net book value
At 31 July 2024 0 0
At 31 July 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 August 2023 250,000 334,230 290,952 173,200 1,048,382
Additions 0 2,795 0 0 2,795
Disposals ( 250,000) 0 0 0 ( 250,000)
At 31 July 2024 0 337,025 290,952 173,200 801,177
Accumulated depreciation
At 01 August 2023 0 292,356 244,967 160,030 697,353
Charge for the financial year 0 11,025 11,683 3,240 25,948
At 31 July 2024 0 303,381 256,650 163,270 723,301
Net book value
At 31 July 2024 0 33,644 34,302 9,930 77,876
At 31 July 2023 250,000 41,874 45,985 13,170 351,029

5. Debtors

2024 2023
£ £
Trade debtors 301,072 448,915
Other debtors 249,111 0
550,183 448,915

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 36,148 23,962

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 40,000 50,330
Trade creditors 721,579 711,185
Taxation and social security 87,294 75,300
Obligations under finance leases and hire purchase contracts 11,877 12,157
Other creditors 245,453 267,077
1,106,203 1,116,049

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 33,333 91,598
Obligations under finance leases and hire purchase contracts 7,260 19,136
Other creditors 0 108,759
40,593 219,493

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 19,195) ( 16,567)
Credited/(charged) to the Statement of Income and Retained Earnings 4,399 ( 2,628)
At the end of financial year ( 14,796) ( 19,195)

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
6,000 Ordinary shares of £ 1.00 each 6,000 6,000