Ted's Tyres Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07122037 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Ted's Tyres Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M W Smith

REGISTERED OFFICE:

41 St Johns Road

Bedminster

Bristol

BS3 4JJ

REGISTERED NUMBER:

07122037 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

FIXED ASSETS

Property, plant and equipment

4

397

537

CURRENT ASSETS

Inventories

5

2,000

Debtors

6

11,466

14,583

Cash at bank and in hand

264,942

193,664

278,408

210,247

CREDITORS

Amounts falling due within one year

7

56,877

89,933

NET CURRENT ASSETS

221,531

120,314

TOTAL ASSETS LESS CURRENT
LIABILITIES

221,928

120,851

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

221,828

120,751

SHAREHOLDERS' FUNDS

221,928

120,851

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 director acknowledges his 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 director and authorised for issue on 16 September 2025 and were signed by:

M W Smith - Director

1.	STATUTORY INFORMATION

Ted's Tyres 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 represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

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

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on reducing balance

Stocks

Inventories 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.

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 5 (2024 - 6 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

COST

At 1 April 2024

and 31 March 2025

24,943

14,500

405

39,848

DEPRECIATION

At 1 April 2024

24,406

14,500

405

39,311

Charge for year

140

-

140

At 31 March 2025

24,546

14,500

405

39,451

NET BOOK VALUE

At 31 March 2025

397

-

397

At 31 March 2024

537

-

537

5.	INVENTORIES

31.3.25

31.3.24

£

Stocks

2,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Prepayments and accrued income

11,466

14,583

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

4,334

19,047

Tax

43,246

41,931

Social security and other taxes

2,232

2,375

VAT

5,574

23,930

Other creditors

1,415

1,499

Directors' current accounts

76

1,151

56,877

89,933

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company entered into the following transactions with the director:

2025

2024

Capital introduced/(withdrawn)

(1,075

)

306

Rent paid by company

15,000

At the year end the amount due to the director was £76 (2024 - £1,151).

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M W Smith.