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Registered number: 13513239
TREADS TYRES & AUTOS EXETER LTD
Financial Statements
For The Year Ended 31 July 2024
Trek Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13513239
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,654 25,908
21,654 25,908
CURRENT ASSETS
Stocks 5 40,000 40,000
Debtors 6 14,227 9,227
Cash at bank and in hand 23,278 7,617
77,505 56,844
Creditors: Amounts Falling Due Within One Year 7 (167,138 ) (141,716 )
NET CURRENT ASSETS (LIABILITIES) (89,633 ) (84,872 )
TOTAL ASSETS LESS CURRENT LIABILITIES (67,979 ) (58,964 )
Creditors: Amounts Falling Due After More Than One Year 8 (2,565 ) (9,112 )
NET LIABILITIES (70,544 ) (68,076 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (70,545 ) (68,077 )
SHAREHOLDERS' FUNDS (70,544) (68,076)
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Antony Hickey
Director
29th April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TREADS TYRES & AUTOS EXETER LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13513239 . The registered office is 14 & 15 Southernhay West, Exeter, EX1 1PL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18% Reducing balance
Motor Vehicles 18% Reducing Balance
Fixtures & Fittings 18% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2023 36,731 1,800 38,531
Additions - 500 500
As at 31 July 2024 36,731 2,300 39,031
Depreciation
As at 1 August 2023 12,033 590 12,623
Provided during the period 4,446 308 4,754
As at 31 July 2024 16,479 898 17,377
Net Book Value
As at 31 July 2024 20,252 1,402 21,654
As at 1 August 2023 24,698 1,210 25,908
5. Stocks
2024 2023
£ £
Materials 40,000 40,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 14,227 9,227
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,547 6,547
Other taxes and social security 22,682 27,035
VAT 43,342 28,916
Other creditors 42,151 22,151
Accruals and deferred income 3,500 2,250
Directors' loan accounts 48,916 54,817
167,138 141,716
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,565 9,112
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,547 6,547
Later than one year and not later than five years 2,565 9,112
9,112 15,659
9,112 15,659
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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