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Company Registration No. 14604049 (England and Wales)
Cambrian Tyres Cycle Ltd Unaudited accounts for the year ended 31 December 2024
Cambrian Tyres Cycle Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Cambrian Tyres Cycle Ltd Company Information for the year ended 31 December 2024
Director
N Evans
Company Number
14604049 (England and Wales)
Registered Office
Cambrian Tyre Service North Parade Aberystwyth Dyfed SY23 2JR Wales
Accountants
PJE Accountants & Advisors 23 College Street Lampeter Ceredigion SA48 7DY
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Cambrian Tyres Cycle Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
19,236 
27,708 
Current assets
Inventories
2,001,915 
2,067,953 
Debtors
5
1,265,573 
259,291 
Cash at bank and in hand
804,066 
461,669 
4,071,554 
2,788,913 
Creditors: amounts falling due within one year
6
(2,699,157)
(2,237,158)
Net current assets
1,372,397 
551,755 
Total assets less current liabilities
1,391,633 
579,463 
Provisions for liabilities
Deferred tax
(4,809)
(6,927)
Net assets
1,386,824 
572,536 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,386,724 
572,436 
Shareholders' funds
1,386,824 
572,536 
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 May 2025 and were signed on its behalf by
N Evans Director Company Registration No. 14604049
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Cambrian Tyres Cycle Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Cambrian Tyres Cycle Ltd is a private company, limited by shares, registered in England and Wales, registration number 14604049. The registered office is Cambrian Tyre Service, North Parade, Aberystwyth, Dyfed, SY23 2JR, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 year straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Cambrian Tyres Cycle Ltd Notes to the Accounts for the year ended 31 December 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2024
35,000 
Additions
361 
At 31 December 2024
35,361 
Depreciation
At 1 January 2024
7,292 
Charge for the year
8,833 
At 31 December 2024
16,125 
Net book value
At 31 December 2024
19,236 
At 31 December 2023
27,708 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
265,473 
259,191 
Other debtors
1,000,100 
100 
1,265,573 
259,291 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
35,785 
20,628 
Trade creditors
2,029,528 
2,118,570 
Taxes and social security
612,667 
4,859 
Other creditors
(2,455)
- 
Accruals
23,632 
93,101 
2,699,157 
2,237,158 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
N Evans
Director Loan
100 
1,000,000 
- 
1,000,100 
100 
1,000,000 
- 
1,000,100 
Non-interest baring and repayable on demand.
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Cambrian Tyres Cycle Ltd Notes to the Accounts for the year ended 31 December 2024
8
Transactions with related parties
The company purchased from Cambrian Tyres Ltd a company majority owned by Mr N Evans amounting to £53,579 (2023:£3,851,112), the company owed £1,205,586 (2023:£1,812,208) at the year end to Cambrian Tyres Ltd, this amount includes interest charged on the balance of £85,215 (2023:£116,479). The company has been re-charged for administration and use of facilities amounting to £88,627 (2023:£92,200) during the year. The company pays rent to Mr N Evans amounting to £31,194, this is deemed to be market value rate.
9
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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