Company registration number 12226350 (England and Wales)
BEST TYRES AUTOCENTRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BEST TYRES AUTOCENTRE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BEST TYRES AUTOCENTRE LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
41,000
49,000
Tangible assets
4
113,320
128,053
154,320
177,053
Current assets
Stocks
65,742
47,500
Debtors
5
68,446
78,414
Cash at bank and in hand
482
8,560
134,670
134,474
Creditors: amounts falling due within one year
6
(402,186)
(373,418)
Net current liabilities
(267,516)
(238,944)
Total assets less current liabilities
(113,196)
(61,891)
Creditors: amounts falling due after more than one year
7
(84,449)
(111,238)
Net liabilities
(197,645)
(173,129)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(197,745)
(173,229)
Total equity
(197,645)
(173,129)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

BEST TYRES AUTOCENTRE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
Mrs A L Howell
Miss C Howell
Director
Director
Company registration number 12226350 (England and Wales)
BEST TYRES AUTOCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Best Tyres Autocentre Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company meets its day to day working capital requirements through loans from its directors as well as third parties. On the basis of the continuing financial support of the directors as well as third party loans, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of these loans.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% staight line method
Plant and equipment
10% reducing balance method
Computers
20% straight line method
Motor vehicles
25% reducing balance method

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price.

BEST TYRES AUTOCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
10
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
80,000
Amortisation and impairment
At 1 October 2023
31,000
Amortisation charged for the year
8,000
At 30 September 2024
39,000
Carrying amount
At 30 September 2024
41,000
At 30 September 2023
49,000
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
8,444
165,310
6,126
13,450
193,330
Depreciation and impairment
At 1 October 2023
3,047
49,392
3,642
9,196
65,277
Depreciation charged in the year
845
11,598
1,226
1,064
14,733
At 30 September 2024
3,892
60,990
4,868
10,260
80,010
Carrying amount
At 30 September 2024
4,552
104,320
1,258
3,190
113,320
At 30 September 2023
5,397
115,918
2,484
4,254
128,053
BEST TYRES AUTOCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
35,947
41,061
Other debtors
32,499
37,353
68,446
78,414
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
81,009
49,148
Trade creditors
80,315
91,565
Taxation and social security
36,457
35,501
Other creditors
204,405
197,204
402,186
373,418

Included within other creditors is £1,145 of hire purchase contracts and bank loan of £79,017 (2023: £5,158 and £48,677 respectively) that are secured against the personal guarantees of the directors.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
84,449
110,375
Other creditors
-
0
863
84,449
111,238

Included within other creditors is HP of nil and bank loan of £84,449 (2023: £863 and £110,375 respectively) that are secured against the personal guarantees of the directors.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
39,000
39,000
Between two and five years
156,000
156,000
In over five years
42,250
81,250
237,250
276,250
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