Registered number
08436364
Spare Deal Tyres Limited
Filleted Accounts
31 March 2025
Spare Deal Tyres Limited
Registered number: 08436364
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 11,847 7,335
Current assets
Stocks 20,867 28,000
Debtors 4 13,142 10,493
Cash at bank and in hand 85,180 126,380
119,189 164,873
Creditors: amounts falling due within one year 5 (140,083) (168,716)
Net current liabilities (20,894) (3,843)
Net (liabilities)/assets (9,047) 3,492
Capital and reserves
Share premium 100 100
Profit and loss account (9,147) 3,392
Shareholders' funds (9,047) 3,492
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C D Ackroyd
Director
Approved by the board on 25 July 2025
Spare Deal Tyres Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 0% Reducing Balance
Plant and machinery 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 4,200 22,498 26,698
Additions - 5,649 5,649
At 31 March 2025 4,200 28,147 32,347
Depreciation
At 1 April 2024 - 19,363 19,363
Charge for the year - 1,137 1,137
At 31 March 2025 - 20,500 20,500
Net book value
At 31 March 2025 4,200 7,647 11,847
At 31 March 2024 4,200 3,135 7,335
4 Debtors 2025 2024
£ £
Other debtors 13,142 10,493
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 45,388 59,943
Taxation and social security costs 65,195 83,589
Other creditors 29,500 25,184
140,083 168,716
6 Other information
Spare Deal Tyres Limited is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
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