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REGISTERED NUMBER: 01339220 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2024

for

1 Tyremen Limited

1 Tyremen Limited (Registered number: 01339220)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


1 Tyremen Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: W J Stephenson
C Sanders
Mrs S Sanders





REGISTERED OFFICE: Witty Street
Hull
East Yorkshire
HU3 4TX





REGISTERED NUMBER: 01339220 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
HULL HU1 2LD

1 Tyremen Limited (Registered number: 01339220)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 140,670 164,549
Investments 6 100 100
140,771 164,650

CURRENT ASSETS
Stocks 199,713 183,901
Debtors 7 129,862 150,125
Cash at bank and in hand 149,988 149,819
479,563 483,845
CREDITORS
Amounts falling due within one year 8 491,951 523,511
NET CURRENT LIABILITIES (12,388 ) (39,666 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,383

124,984

CREDITORS
Amounts falling due after more than one
year

9

(3,974

)

(11,061

)

PROVISIONS FOR LIABILITIES (19,440 ) (24,000 )
NET ASSETS 104,969 89,923

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 104,869 89,823
SHAREHOLDERS' FUNDS 104,969 89,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

1 Tyremen Limited (Registered number: 01339220)

Balance Sheet - continued
30 September 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





C Sanders - Director


1 Tyremen Limited (Registered number: 01339220)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

1 Tyremen Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. Revenue on the sale of goods is recognised on despatch in accordance with the company's terms of sale. Revenue relating to services is recognised when the company has performed its obligations, in accordance with contractual terms.

Goodwill
Goodwill of £1 is the amount paid in connection with the acquisition of a business in 2016.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1 Tyremen Limited (Registered number: 01339220)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 420,254
Additions 5,432
At 30 September 2024 425,686
DEPRECIATION
At 1 October 2023 255,705
Charge for year 29,311
At 30 September 2024 285,016
NET BOOK VALUE
At 30 September 2024 140,670
At 30 September 2023 164,549

1 Tyremen Limited (Registered number: 01339220)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 100
NET BOOK VALUE
At 30 September 2024 100
At 30 September 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,943 79,644
Amounts owed by group undertakings 100 100
Other debtors 55,819 70,381
129,862 150,125

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 21,071
Hire purchase contracts 7,087 7,087
Trade creditors 378,170 414,987
Amounts owed to group undertakings 549 549
Taxation and social security 90,479 58,447
Other creditors 15,666 21,370
491,951 523,511

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 3,974 11,061

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

1 Tyremen Limited (Registered number: 01339220)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. RESERVES
Retained
earnings
£   

At 1 October 2023 89,823
Profit for the year 150,708
Dividends (135,662 )
At 30 September 2024 104,869

12. RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £548 was owed by 1 Tyremen Limited to UK Tyre Network Limited, (2023 - £548) .

At the balance sheet date £34,321 was owed to the company by Mr C Sanders (2023 - £33,484). Interest amounting to £837 has been charged on the overdrawn balance at HMRC's official rate.

13. CONTROLLING PARTY

The company is controlled by CS Tyres Limited a company registered in England and the ultimate controlling party is Mr C L Sanders.