| Tyresmiths (Plymouth) Ltd |
| Registered Number:10394521 |
For the year ended 31 December 2024
England and Wales
Unaudited Financial Statements
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
Tyresmiths (Plymouth) Ltd
Statement of Financial Position
2023
2024
| Property, plant and equipment |
64,158
61,178
2
64,158
61,178
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
2
2
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. |
| 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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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. |
3 Boons Place
North Cross
Plymouth
Devon
PL1 5DW
| The presentation currency is £ sterling. |
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
Plant and Machinery
Computer Equipment
Motor Vehicles
| 2. Property, plant and equipment |
Motor Vehicles
150,309
1,679
64,907
78,723
5,000
19,021
-
3,107
15,914
-
94,637
68,014
1,679
169,330
5,000
| Provision for depreciation and impairment |
89,131
741
35,591
47,799
5,000
Charge for year
16,041
188
6,485
9,368
-
105,172
929
42,076
57,167
5,000
-
37,470
25,938
750
64,158
-
30,924
29,316
938
61,178
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For the year ended 31 December 2024
Tyresmiths (Plymouth) Ltd
Notes to the Financial Statements Continued
2023
2024
53,909
46,095
| 4. Trade and other receivables |
2023
2024
2,391
2,975
16,538
20,913
23,888
18,929
| 5. Trade and other payables: amounts falling due within one year |
2023
2024
39,302
27,963
| Taxation and social security |
57,987
50,173
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 |
Loaned
Repaid
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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For the year ended 31 December 2024
Tyresmiths (Plymouth) Ltd
Notes to the Financial Statements Continued
| 8. Guarantees and other financial 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
78,000
39,000
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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