BrightAccountsProduction v1.0.0 v1.0.0 2023-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company during the year is rental of commercial property. 6 November 2024 2 2 NI056332 2024-07-31 NI056332 2023-07-31 NI056332 2022-07-31 NI056332 2023-08-01 2024-07-31 NI056332 2022-08-01 2023-07-31 NI056332 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI056332 uk-curr:PoundSterling 2023-08-01 2024-07-31 NI056332 uk-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI056332 uk-bus:FullAccounts 2023-08-01 2024-07-31 NI056332 uk-core:ShareCapital 2024-07-31 NI056332 uk-core:ShareCapital 2023-07-31 NI056332 uk-core:SharePremium 2024-07-31 NI056332 uk-core:SharePremium 2023-07-31 NI056332 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI056332 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI056332 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-07-31 NI056332 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI056332 uk-bus:FRS102 2023-08-01 2024-07-31 NI056332 uk-core:LandBuildings 2023-08-01 2024-07-31 NI056332 uk-core:PlantMachinery 2023-08-01 2024-07-31 NI056332 uk-core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 NI056332 uk-core:CurrentFinancialInstruments 2024-07-31 NI056332 uk-core:CurrentFinancialInstruments 2023-07-31 NI056332 uk-core:WithinOneYear 2024-07-31 NI056332 uk-core:WithinOneYear 2023-07-31 NI056332 uk-core:AfterOneYear 2024-07-31 NI056332 uk-core:AfterOneYear 2023-07-31 NI056332 uk-core:EmployeeBenefits 2023-07-31 NI056332 uk-core:EmployeeBenefits 2023-08-01 2024-07-31 NI056332 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-07-31 NI056332 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-07-31 NI056332 uk-core:OtherDeferredTax 2024-07-31 NI056332 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-07-31 NI056332 uk-core:EmployeeBenefits 2024-07-31 NI056332 2023-08-01 2024-07-31 NI056332 uk-bus:Director1 2023-08-01 2024-07-31 NI056332 uk-bus:Director2 2023-08-01 2024-07-31 NI056332 uk-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI056332
 
 
DC Tyres Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 July 2024
DC Tyres Ltd
Company Registration Number: NI056332
BALANCE SHEET
as at 31 July 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 845,352 849,800
───────── ─────────
 
Current Assets
Debtors 5 12,500 11,000
Cash and cash equivalents 87 502
───────── ─────────
12,587 11,502
───────── ─────────
Creditors: amounts falling due within one year 6 (110,076) (104,840)
───────── ─────────
Net Current Liabilities (97,489) (93,338)
───────── ─────────
Total Assets less Current Liabilities 747,863 756,462
 
Creditors:
amounts falling due after more than one year 7 (204,306) (212,349)
 
Provisions for liabilities 9 (31,768) (24,812)
───────── ─────────
Net Assets 511,789 519,301
═════════ ═════════
 
Capital and Reserves
Called up share capital 68,002 68,002
Share premium account 68,001 68,001
Retained earnings 375,786 383,298
───────── ─────────
Equity attributable to owners of the company 511,789 519,301
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and 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 financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 6 November 2024 and signed on its behalf by
           
           
________________________________     ________________________________
Mr. Damien Caldwell     Mrs. Sharon Caldwell
Director     Director
           



DC Tyres Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 July 2024

   
1. General Information
 
DC Tyres Ltd is a company limited by shares incorporated in Northern Ireland. 59 Towncastle Road, Strabane, Co Tyrone, BT82 0AJ is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 July 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Buildings freehold - 2% Straight line
  Plant and machinery - 20% Reducing balance
  Land - 0%
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2023 - 2).
 
  2024 2023
  Number Number
 
Employees 2 2
  ═════════ ═════════
           
4. Tangible assets
  Buildings Plant and Land Total
  freehold machinery    
         
  £ £ £ £
Cost
At 1 August 2023 172,323 40,204 781,414 993,941
  ───────── ───────── ───────── ─────────
 
At 31 July 2024 172,323 40,204 781,414 993,941
  ───────── ───────── ───────── ─────────
Depreciation
At 1 August 2023 45,806 35,194 63,141 144,141
Charge for the financial year 3,446 1,002 - 4,448
  ───────── ───────── ───────── ─────────
At 31 July 2024 49,252 36,196 63,141 148,589
  ───────── ───────── ───────── ─────────
Net book value
At 31 July 2024 123,071 4,008 718,273 845,352
  ═════════ ═════════ ═════════ ═════════
At 31 July 2023 126,517 5,010 718,273 849,800
  ═════════ ═════════ ═════════ ═════════
       
5. Debtors 2024 2023
  £ £
 
Other debtors 12,500 11,000
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 31,327 38,421
Taxation  (Note 8) 34,378 43,566
Accruals 44,371 22,853
  ───────── ─────────
  110,076 104,840
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Directors' loan accounts 151,306 159,349
Other loans 53,000 53,000
  ───────── ─────────
  204,306 212,349
  ═════════ ═════════
 
       
8. Taxation 2024 2023
  £ £
 
Creditors:
Corporation tax 33,162 41,467
PAYE / NI 1,216 2,099
  ───────── ─────────
  34,378 43,566
  ═════════ ═════════
           
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital   Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 24,989 (177) 24,812 26,066
Charged to profit and loss 6,779 177 6,956 (1,254)
  ───────── ───────── ───────── ─────────
At financial year end 31,768 - 31,768 24,812
  ═════════ ═════════ ═════════ ═════════
           
10. Related party transactions
 
At the start of the year the company owed the directors of DC Tyres Ltd £159,349. During the year the company borrowed £15,557 and repaid £23,600 to the directors. At the year end, the amount owed to the directors from DC Tyres Ltd is £151,306 (2023: £159,349) and this is included in the creditors section of the balance sheet.
       
11.   2024 2023
  £ £
 
  ═════════ ═════════