2024-01-01 10394521 2024-12-31 10394521 2024-01-01 2024-12-31 10394521 2023-12-31 10394521 2023-01-01 2023-12-31 10394521 uk-core:WithinOneYear 2023-12-31 10394521 uk-core:WithinOneYear 2024-12-31 10394521 uk-core:ShareCapital 2024-12-31 10394521 uk-core:ShareCapital 2023-12-31 10394521 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 10394521 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 10394521 uk-bus:Director1 2024-01-01 2024-12-31 10394521 uk-bus:Director2 2024-01-01 2024-12-31 10394521 uk-core:Buildings 2024-01-01 2024-12-31 10394521 uk-core:PlantMachinery 2024-01-01 2024-12-31 10394521 uk-core:ComputerEquipment 2024-01-01 2024-12-31 10394521 uk-core:MotorVehicles 2024-01-01 2024-12-31 10394521 uk-core:ComputerEquipment 2023-12-31 10394521 uk-core:MotorVehicles 2023-12-31 10394521 uk-core:PlantMachinery 2023-12-31 10394521 uk-core:Buildings 2023-12-31 10394521 uk-core:PlantMachinery 2024-12-31 10394521 uk-core:MotorVehicles 2024-12-31 10394521 uk-core:ComputerEquipment 2024-12-31 10394521 uk-core:Buildings 2024-12-31 10394521 uk-core:WithinOneYear 2024-01-01 2024-12-31 10394521 2 uk-bus:Director1 2024-01-01 2024-12-31 10394521 2 uk-bus:Director1 2024-12-31 10394521 2 uk-bus:Director1 2023-12-31 10394521 3 uk-bus:Director2 2024-01-01 2024-12-31 10394521 3 uk-bus:Director2 2024-12-31 10394521 3 uk-bus:Director2 2023-12-31 10394521 uk-core:BetweenTwoFiveYears 2023-12-31 10394521 uk-core:BetweenTwoFiveYears 2024-12-31 iso4217:GBP xbrli:pure 10394521 uk-bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10394521 uk-bus:FRS102 2024-01-01 2024-12-31 10394521 uk-bus:FilletedAccounts 2024-01-01 2024-12-31 10394521 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31
Tyresmiths (Plymouth) Ltd
Registered Number:10394521
For the year ended 31 December 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2024
Tyresmiths (Plymouth) Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
10394521
As at 31 December 2024
Tyresmiths (Plymouth) Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
64,158
61,178
2
64,158
61,178
Current assets
Inventories
46,095
53,909
3
Trade and other receivables
23,888
18,929
4
265,626
Cash and cash equivalents
362,274
435,112
335,609
Trade and other payables: amounts falling due within one
year
(82,313)
(104,374)
5
253,296
330,738
Net current assets
Total assets less current liabilities
394,896
314,474
(15,775)
(14,972)
Provisions for liabilities
379,121
Net assets
299,502
Capital and reserves
Called up share capital
2
2
Retained earnings
379,119
299,500
379,121
299,502
Shareholders' funds
For the year ended 31 December 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
P A Miller Director
Mrs M S Miller Director
These financial statements were approved and authorised for issue by the Board on 24 June 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2024
Tyresmiths (Plymouth) Ltd
Notes to the Financial Statements
Statutory Information
Tyresmiths (Plymouth) Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 10394521.
Registered address:
3 Boons Place
North Cross
Plymouth
Devon
PL1 5DW
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
20% Straight line
Plant and Machinery
20% Reducing balance
20 Reducing balance
Computer Equipment
20% Reducing balance
Motor Vehicles
2. Property, plant and equipment
Total
Computer
Equipment
Motor Vehicles
Plant and
Machinery
Land and
Buildings
£
£
£
£
£
Cost or
valuation
At 01 January 2024
150,309
1,679
64,907
78,723
5,000
19,021
-
3,107
15,914
-
Additions
At 31 December 2024
94,637
68,014
1,679
169,330
5,000
Provision for depreciation and impairment
At 01 January 2024
89,131
741
35,591
47,799
5,000
Charge for year
16,041
188
6,485
9,368
-
At 31 December 2024
105,172
929
42,076
57,167
5,000
At 31 December 2024
Net book value
-
37,470
25,938
750
64,158
At 31 December 2023
-
30,924
29,316
938
61,178
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5
For the year ended 31 December 2024
Tyresmiths (Plymouth) Ltd
Notes to the Financial Statements Continued
3. Inventories
2023
2024
£
£
Stocks
53,909
46,095
4. Trade and other receivables
2023
2024
£
£
Trade debtors
2,391
2,975
Other debtors
16,538
20,913
23,888
18,929
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
39,302
27,963
Taxation and social security
57,987
50,173
Other creditors
7,085
4,177
104,374
82,313
Included within taxation and social security is corporation tax of £33,995 (2023: £26,241).
6. Related party transactions
Dividends of £31,000 were paid to the directors in the year.
The company is under the effective control of its directors.
7. Directors advances and guarantees
At 01/01/2024
Loaned
Repaid
At 31/12/2024
£
£
£
£
P A Miller
Director's Loan
91
(9,870)
20,000
10,039
91
(9,870)
20,000
10,039
Mrs M S Miller
Director's Loan
(10,000)
(5,000)
15,000
20,000
(10,000)
(5,000)
15,000
20,000
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6
For the year ended 31 December 2024
Tyresmiths (Plymouth) Ltd
Notes to the Financial Statements Continued
8. Guarantees and other financial commitments
Lease commitments
At 31 December 2024 the company had annual commitments under non-cancellable operating leases as set out
below:
2023
£
2024
£
Operating leases which expire:
39,000
39,000
Within 1 year
78,000
39,000
Within 2 to 5 years
78,000
117,000
Under FRS 102, the figures represent the full amount payable for the whole period of the lease remaining at the year
end.
9. Average number of persons employed
During the year the average number of employees was 8 (2023 : 7)
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