Auto Tyre Services Limited 04631721 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the provision of auto supply services Digita Accounts Production Advanced 6.30.9574.0 true 04631721 2024-01-01 2024-12-31 04631721 2024-12-31 04631721 core:CurrentFinancialInstruments 2024-12-31 04631721 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04631721 core:OtherPropertyPlantEquipment 2024-12-31 04631721 bus:SmallEntities 2024-01-01 2024-12-31 04631721 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04631721 bus:FilletedAccounts 2024-01-01 2024-12-31 04631721 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04631721 bus:RegisteredOffice 2024-01-01 2024-12-31 04631721 bus:Director1 2024-01-01 2024-12-31 04631721 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04631721 bus:Agent1 2024-01-01 2024-12-31 04631721 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 04631721 core:PlantMachinery 2024-01-01 2024-12-31 04631721 countries:EnglandWales 2024-01-01 2024-12-31 04631721 2023-12-31 04631721 core:OtherPropertyPlantEquipment 2023-12-31 04631721 2023-01-01 2023-12-31 04631721 2023-12-31 04631721 core:CurrentFinancialInstruments 2023-12-31 04631721 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04631721 core:OtherPropertyPlantEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 04631721

Auto Tyre Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Auto Tyre Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Auto Tyre Services Limited

Company Information

Director

Stephen John Pratley

Registered office

Unit 19
Bromag Industrial Estate
Burford Road
Witney
OX29 0SR

Accountants

ReesRussell LLP
Chartered Accountants37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Auto Tyre Services Limited

(Registration number: 04631721)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

968

1,237

Current assets

 

Stocks

5

4,828

5,003

Debtors

6

8,461

8,922

Cash at bank and in hand

 

39,854

47,335

 

53,143

61,260

Creditors: Amounts falling due within one year

7

(31,112)

(36,640)

Net current assets

 

22,031

24,620

Net assets

 

22,999

25,857

Capital and reserves

 

Called up share capital

1

1

Capital redemption reserve

2

2

Retained earnings

22,996

25,854

Shareholders' funds

 

22,999

25,857

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 June 2025
 

Stephen John Pratley
Director

 

Auto Tyre Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 19
Bromag Industrial Estate
Burford Road
Witney
OX29 0SR

The principal place of business is:
Auto Tyre Services Limited
Bromag Ind Estate
Burford Road
Witney
OX29 0SR

These financial statements were authorised for issue by the director on 6 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Government grants

Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Auto Tyre Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

straight line basis over six years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Auto Tyre Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Auto Tyre Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

12,769

12,769

Additions

416

416

At 31 December 2024

13,185

13,185

Depreciation

At 1 January 2024

11,532

11,532

Charge for the year

685

685

At 31 December 2024

12,217

12,217

Carrying amount

At 31 December 2024

968

968

At 31 December 2023

1,237

1,237

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

4,828

5,003

6

Debtors

Current

2024
£

2023
£

Trade debtors

7,477

7,803

Prepayments

732

867

Other debtors

252

252

 

8,461

8,922

 

Auto Tyre Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

24,993

29,487

Taxation and social security

3,888

5,010

Accruals and deferred income

2,231

2,143

31,112

36,640