2023-11-012024-10-312024-10-31false12932433JOHN SMITH TYRES 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JOHN SMITH TYRES LIMITED

Registered Number
12932433
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

JOHN SMITH TYRES LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

SMITH, Deborah
SMITH, James
SMITH, John Albert

Company Secretary

SMITH, John Albert

Registered Address

52 Fore Street
Callington
PL17 7AJ

Registered Number

12932433 (England and Wales)
JOHN SMITH TYRES LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3175,380112,099
175,380112,099
Current assets
Debtors562,23262,631
Cash at bank and on hand264,335202,380
326,567265,011
Creditors amounts falling due within one year6(227,088)(195,357)
Net current assets (liabilities)99,47969,654
Total assets less current liabilities274,859181,753
Net assets274,859181,753
Capital and reserves
Called up share capital100100
Profit and loss account274,759181,653
Shareholders' funds274,859181,753
The financial statements were approved and authorised for issue by the Board of Directors on 15 May 2025, and are signed on its behalf by:
SMITH, John Albert
Director
Registered Company No. 12932433
JOHN SMITH TYRES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year45
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 23147,760
Additions82,898
At 31 October 24230,658
Depreciation and impairment
At 01 November 2335,662
Charge for year19,616
At 31 October 2455,278
Net book value
At 31 October 24175,380
At 31 October 23112,099
4.Stocks
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables62,23262,631
Total62,23262,631
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables176,228132,450
Taxation and social security47,46059,658
Accrued liabilities and deferred income3,4003,249
Total227,088195,357