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HOLBEACH TYRES LIMITED

Registered Number
08154003
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

HOLBEACH TYRES LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

Mr D J Tinn
Mrs S Mason

Registered Address

12 Tentercroft Street
Lincoln
LN5 7DB

Place of Business

Boston Road

Holbeach

Spalding

Lincolnshire

PE12 7LR


Registered Number

08154003 (England and Wales)
HOLBEACH TYRES LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets340,00253,336
Tangible assets430,59713,998
70,59967,334
Current assets
Stocks521,14321,051
Debtors6138,746106,696
Cash at bank and on hand460,572422,874
620,461550,621
Creditors amounts falling due within one year7(241,286)(213,671)
Net current assets (liabilities)379,175336,950
Total assets less current liabilities449,774404,284
Provisions for liabilities8(5,907)(1,636)
Net assets443,867402,648
Capital and reserves
Called up share capital100100
Profit and loss account443,767402,548
Shareholders' funds443,867402,648
The financial statements were approved and authorised for issue by the Board of Directors on 22 June 2025, and are signed on its behalf by:
Mr D J Tinn
Director
Registered Company No. 08154003
HOLBEACH TYRES LIMITED
Notes to the Financial Statements
for the year ended 30 September 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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
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.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either debtors or creditors in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of fifteen years.
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:

Reducing balance (%)Straight line (years)
Fixtures and fittings-5
Vehicles25-
Office Equipment-5
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year1211
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 October 23200,000200,000
At 30 September 24200,000200,000
Amortisation and impairment
At 01 October 23146,664146,664
Charge for year13,33413,334
At 30 September 24159,998159,998
Net book value
At 30 September 2440,00240,002
At 30 September 2353,33653,336
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 October 2344,02330010,78755,110
Additions23,206--23,206
Disposals(4,665)(300)(1,122)(6,087)
At 30 September 2462,564-9,66572,229
Depreciation and impairment
At 01 October 2331,4882489,37641,112
Charge for year6,035135206,568
On disposals(4,665)(261)(1,122)(6,048)
At 30 September 2432,858-8,77441,632
Net book value
At 30 September 2429,706-89130,597
At 30 September 2312,535521,41113,998
5.Stocks

2024

2023

££
Work in progress21,14321,051
Total21,14321,051
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables115,403104,223
Other debtors1,500182
Prepayments and accrued income21,8432,291
Total138,746106,696
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables155,547121,474
Taxation and social security79,21179,456
Other creditors1,3497,231
Accrued liabilities and deferred income5,1795,510
Total241,286213,671
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,9071,636
Total5,9071,636