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REGISTERED NUMBER: 14372466 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WIGHT TYRES RYDE LTD

WIGHT TYRES RYDE LTD (REGISTERED NUMBER: 14372466)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WIGHT TYRES RYDE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mr A J Barry





REGISTERED OFFICE: 1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA





REGISTERED NUMBER: 14372466 (England and Wales)





ACCOUNTANTS: Mackenzies, a Xeinadin company
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

WIGHT TYRES RYDE LTD (REGISTERED NUMBER: 14372466)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 16,800 18,900
Tangible assets 5 51,585 22,389
68,385 41,289

CURRENT ASSETS
Stocks 6 6,000 6,000
Debtors 7 22,266 7,501
Cash at bank and in hand 25,603 13,120
53,869 26,621
CREDITORS
Amounts falling due within one year 8 203,492 184,402
NET CURRENT LIABILITIES (149,623 ) (157,781 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(81,238

)

(116,492

)

CREDITORS
Amounts falling due after more than one
year

9

(9,001

)

(1,400

)

PROVISIONS FOR LIABILITIES 11 (9,801 ) (4,254 )
NET LIABILITIES (100,040 ) (122,146 )

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings (100,041 ) (122,147 )
SHAREHOLDERS' FUNDS (100,040 ) (122,146 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

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 director acknowledges his 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.

WIGHT TYRES RYDE LTD (REGISTERED NUMBER: 14372466)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 June 2025 and were signed by:





Mr A J Barry - Director


WIGHT TYRES RYDE LTD (REGISTERED NUMBER: 14372466)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Wight Tyres Ryde Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of nil years.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

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 Profit and loss account, 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.


WIGHT TYRES RYDE LTD (REGISTERED NUMBER: 14372466)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

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 6 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2024
and 31 December 2024 21,000
AMORTISATION
At 1 January 2024 2,100
Amortisation for year 2,100
At 31 December 2024 4,200
NET BOOK VALUE
At 31 December 2024 16,800
At 31 December 2023 18,900

WIGHT TYRES RYDE LTD (REGISTERED NUMBER: 14372466)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2024 11,917 2,250 12,000 919 27,086
Additions 12,269 4,614 23,495 - 40,378
At 31 December 2024 24,186 6,864 35,495 919 67,464
DEPRECIATION
At 1 January 2024 1,480 563 2,400 254 4,697
Charge for year 4,620 1,524 4,819 219 11,182
At 31 December 2024 6,100 2,087 7,219 473 15,879
NET BOOK VALUE
At 31 December 2024 18,086 4,777 28,276 446 51,585
At 31 December 2023 10,437 1,687 9,600 665 22,389

6. STOCKS
2024 2023
£ £
Stocks 6,000 6,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 21,225 6,968
Prepayments and accrued income 1,041 533
22,266 7,501

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 10) 1,400 2,100
Other loans (see note 10) 3,996 -
Trade creditors 43,214 25,590
Amounts owed to group undertakings - 80,514
Social security and other taxes 4,069 803
VAT 9,556 736
Other creditors 141,257 11,678
Directors' current accounts - 62,981
203,492 184,402

WIGHT TYRES RYDE LTD (REGISTERED NUMBER: 14372466)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Other creditors consists of an amount due for pension contributions of £222 (2023: £134) an amount due for a company credit card of Nil (2023: £11,544), and a balance of £141,034 owing to former director Mr R Smith-Matthews (2023: £62,981 included in directors' current accounts).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans (see note 10) - 1,400
Other loans (see note 10) 9,001 -
9,001 1,400

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 1,400 2,100
Other loans 3,996 -
5,396 2,100

Amounts falling due between one and two years:
Bank loans - 1-2 years - 1,400
Other loans - 1-2 years 3,996 -
3,996 1,400

Amounts falling due between two and five years:
Other loans - 2-5 years 5,005 -

There is an amount owing included within other loans of £12,998 (2023: £Nil) which relates to an unsecured loan.

11. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Accelerated capital allowances 4,254 4,254
Deferred tax 5,547 -
9,801 4,254

WIGHT TYRES RYDE LTD (REGISTERED NUMBER: 14372466)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 January 2024 4,254
Provided during year 5,547
Balance at 31 December 2024 9,801

12. CALLED UP SHARE CAPITAL

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

13. GOING CONCERN

The company had net liabilities as at 31 December 2024. The former director has confirmed that he will continue to support the company, will not require repayment of the balances owing to him in the next 12 months and is confident that profitability will continue in that period. Therefore the director considers that the company remains a going concern.