| REGISTERED NUMBER: |
| Tyre and Wheel Services Limited |
| Unaudited Financial Statements |
| for the Year Ended 28 February 2025 |
| REGISTERED NUMBER: |
| Tyre and Wheel Services Limited |
| Unaudited Financial Statements |
| for the Year Ended 28 February 2025 |
| Tyre and Wheel Services Limited (Registered number: 09390796) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Tyre and Wheel Services Limited |
| Company Information |
| for the Year Ended 28 February 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Unit 2 Dunheved Court |
| Pennygillam Way |
| LAUNCESTON |
| Cornwall |
| PL15 7ED |
| Tyre and Wheel Services Limited (Registered number: 09390796) |
| Statement of Financial Position |
| 28 February 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Tyre and Wheel Services Limited (Registered number: 09390796) |
| Statement of Financial Position - continued |
| 28 February 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Tyre and Wheel Services Limited (Registered number: 09390796) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2025 |
| 1. | STATUTORY INFORMATION |
| Tyre and Wheel Services Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Goodwill |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Motor vehicles | - |
| 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 Income Statement, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| 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. |
| Holiday pay accrual |
| During the transition year and the current year the amount of the unpaid holiday pay has not been provided for. This is a departure from the normal accounting policy as it is deemed immaterial to the understanding of the accounts and the cost of obtaining the information outweighs any benefits obtained. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Tyre and Wheel Services Limited (Registered number: 09390796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 March 2024 |
| and 28 February 2025 |
| AMORTISATION |
| At 1 March 2024 |
| Amortisation for year |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Short | Plant and | Motor |
| property | leasehold | machinery | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 March 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 28 February 2025 |
| DEPRECIATION |
| At 1 March 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| Tyre and Wheel Services Limited (Registered number: 09390796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 March 2024 |
| Disposals | ( |
) |
| At 28 February 2025 |
| DEPRECIATION |
| At 1 March 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 | ( |
) |
| At 29 February 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Tyre and Wheel Services Limited (Registered number: 09390796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest has been charged on the overdrawn directors loan account balance at the HMRC approved rate. This balance has been repaid on the 14 March 2025 by the declaration of a dividend. |