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REGISTERED NUMBER: 08454631 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2025

for

G T Tyres (Ceredigion) Limited

G T Tyres (Ceredigion) Limited (Registered number: 08454631)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G T Tyres (Ceredigion) Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: C Evans
Mrs. S R Evans





REGISTERED OFFICE: G T Tyres
Castle Street
CARDIGAN
Ceredigion
SA43 3AA





REGISTERED NUMBER: 08454631 (England and Wales)





ACCOUNTANTS: Ashmole & Co
Manchester House
Grosvenor Hill
Cardigan
Ceredigion
SA43 1HY

G T Tyres (Ceredigion) Limited (Registered number: 08454631)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 154,712 169,683
154,712 169,683

CURRENT ASSETS
Stocks 108,325 109,513
Debtors 6 147,811 129,369
Cash at bank 123,451 112,530
379,587 351,412
CREDITORS
Amounts falling due within one year 7 232,051 236,529
NET CURRENT ASSETS 147,536 114,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,248

284,566

CREDITORS
Amounts falling due after more than one
year

8

(55,943

)

(63,566

)

PROVISIONS FOR LIABILITIES (6,270 ) (8,588 )
NET ASSETS 240,035 212,412

CAPITAL AND RESERVES
Called up share capital 11 11
Retained earnings 240,024 212,401
SHAREHOLDERS' FUNDS 240,035 212,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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.

G T Tyres (Ceredigion) Limited (Registered number: 08454631)

Balance Sheet - continued
31 March 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





C Evans - Director


G T Tyres (Ceredigion) Limited (Registered number: 08454631)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

G T Tyres (Ceredigion) Limited 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 2014, is being amortised evenly over its estimated useful life of five 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 etc - 20% 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 Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

G T Tyres (Ceredigion) Limited (Registered number: 08454631)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 100,000
AMORTISATION
At 1 April 2024
and 31 March 2025 100,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 April 2024 116,902 7,583 47,250 63,880 235,615
Additions - - 2,150 - 2,150
Disposals - - (12,500 ) - (12,500 )
At 31 March 2025 116,902 7,583 36,900 63,880 225,265
DEPRECIATION
At 1 April 2024 - - 27,064 38,868 65,932
Charge for year - - 2,868 6,253 9,121
Eliminated on disposal - - (4,500 ) - (4,500 )
At 31 March 2025 - - 25,432 45,121 70,553
NET BOOK VALUE
At 31 March 2025 116,902 7,583 11,468 18,759 154,712
At 31 March 2024 116,902 7,583 20,186 25,012 169,683

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 147,811 129,369

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 22,930 27,929
Trade creditors 147,634 143,143
Taxation and social security 49,288 47,634
Other creditors 12,199 17,823
232,051 236,529

G T Tyres (Ceredigion) Limited (Registered number: 08454631)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Hire purchase contracts 2,580 -
Other creditors 53,363 63,566
55,943 63,566