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REGISTERED NUMBER: 01853463 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

ADVANCE TYRES HOLDINGS LIMITED

ADVANCE TYRES HOLDINGS LIMITED (REGISTERED NUMBER: 01853463)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ADVANCE TYRES HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Ms P D Bevan
J J Mooney





SECRETARY: Ms P D Bevan





REGISTERED OFFICE: 975 Mollison Avenue
Brimsdown
Enfield
Middlesex
EN3 7NN





REGISTERED NUMBER: 01853463 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

ADVANCE TYRES HOLDINGS LIMITED (REGISTERED NUMBER: 01853463)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,671 2,068
Investment property 5 3,260,091 3,260,091
3,261,762 3,262,159

CURRENT ASSETS
Debtors 6 100 1,500
Cash at bank 29,249 52,683
29,349 54,183
CREDITORS
Amounts falling due within one year 7 125,501 117,167
NET CURRENT LIABILITIES (96,152 ) (62,984 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,165,610 3,199,175

CREDITORS
Amounts falling due after more than one year 8 (821,987 ) (892,388 )

PROVISIONS FOR LIABILITIES (118 ) (142 )
NET ASSETS 2,343,505 2,306,645

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,343,305 2,306,445
2,343,505 2,306,645

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:





J J Mooney - Director


ADVANCE TYRES HOLDINGS LIMITED (REGISTERED NUMBER: 01853463)

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


1. STATUTORY INFORMATION

Advance Tyres Holdings 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 November 2023
and 31 October 2024 2,400 2,200 1,060 5,660
DEPRECIATION
At 1 November 2023 960 1,907 725 3,592
Charge for year 240 73 84 397
At 31 October 2024 1,200 1,980 809 3,989
NET BOOK VALUE
At 31 October 2024 1,200 220 251 1,671
At 31 October 2023 1,440 293 335 2,068

ADVANCE TYRES HOLDINGS LIMITED (REGISTERED NUMBER: 01853463)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 3,260,091
NET BOOK VALUE
At 31 October 2024 3,260,091
At 31 October 2023 3,260,091

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2019 1,750,000
Valuation in 2020 1,353,778
Valuation in 2022 156,314
3,260,092

** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
INVESTMENT PROPERTY

'COST' ACCOUNT TOTAL
Cost/valuation b/f 3,260,091
3,260,091

CLIENT SCREEN TOTAL = 3,260,092


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,400
Other debtors 100 100
100 1,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 67,811 65,222
Trade creditors - 279
Tax 45,849 37,346
VAT 10,581 9,924
Directors' loan accounts - 1,811
Accruals and deferred income - 1,400
Accrued expenses 1,260 1,185
125,501 117,167

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 67,811 65,222
Bank loans - 2-5 years 754,176 827,166
821,987 892,388

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, J Mooney decreased his loan to the company. As at 31 October 2024, the company owed him £nil. (2023: £1,811). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

ADVANCE TYRES HOLDINGS LIMITED (REGISTERED NUMBER: 01853463)

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


10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J J Mooney and Ms P D Bevan.

This was by virtue of their 93% holding of the issued share capital.