Company registration number 03011532 (England and Wales)
STEVE ANDREWS (TYRES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
STEVE ANDREWS (TYRES) LIMITED
COMPANY INFORMATION
Director
Mr S P Andrews
Secretary
Mrs V M Everett
Company number
03011532
STEVE ANDREWS (TYRES) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
STEVE ANDREWS (TYRES) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
4,783
4,783
Tangible assets
4
710,052
707,045
Investment properties
5
185,000
185,000
899,835
896,828
Current assets
Stocks
101,222
99,921
Debtors
6
97,825
76,343
Cash at bank and in hand
864,686
780,805
1,063,733
957,069
Creditors: amounts falling due within one year
7
(338,488)
(366,030)
Net current assets
725,245
591,039
Total assets less current liabilities
1,625,080
1,487,867
Provisions for liabilities
9
(53,174)
(49,464)
Net assets
1,571,906
1,438,403
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
48,344
48,344
Profit and loss reserves
1,522,562
1,389,059
Total equity
1,571,906
1,438,403

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

STEVE ANDREWS (TYRES) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 16 September 2025
Mr S P Andrews
Director
Company Registration No. 03011532
STEVE ANDREWS (TYRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Steve Andrews (Tyres) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Mount Charles Road, St Austell, Cornwall, PL25 3LD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Cherished number plates
Not amortised
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Freehold land is not depreciated.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
2% per annum on the straight line method
Plant and equipment
15% per annum on the reducing balance method
Fixtures and fittings
15% per annum on the reducing balance method
Computer equipment
33% per annum on the straight line method
Motor vehicles
25% per annum on the reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

STEVE ANDREWS (TYRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items.

1.8
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.9
Debtors and creditors receivable/ payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

STEVE ANDREWS (TYRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
30
29
3
Intangible fixed assets
Cherished number plates
£
Cost
At 1 May 2024 and 30 April 2025
4,783
Amortisation and impairment
At 1 May 2024 and 30 April 2025
-
0
Carrying amount
At 30 April 2025
4,783
At 30 April 2024
4,783
STEVE ANDREWS (TYRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
4
Tangible fixed assets
Freehold property
Plant and equipment
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 May 2024
781,963
345,535
85,211
29,925
97,822
1,340,456
Additions
-
0
21,706
20,420
7,027
-
0
49,153
At 30 April 2025
781,963
367,241
105,631
36,952
97,822
1,389,609
Depreciation and impairment
At 1 May 2024
207,519
238,867
74,248
29,555
83,222
633,411
Depreciation charged in the year
15,639
19,471
4,708
2,678
3,650
46,146
At 30 April 2025
223,158
258,338
78,956
32,233
86,872
679,557
Carrying amount
At 30 April 2025
558,805
108,903
26,675
4,719
10,950
710,052
At 30 April 2024
574,444
106,668
10,963
370
14,600
707,045

Plant and machinery with a carrying value of £0 (202 4: £15,150) are held and secured under hire purchase contracts.

5
Investment property
2025
£
Fair value
At 1 May 2024 and 30 April 2025
185,000

Investment property comprises property held for residential rental purposes and for capital appreciation. The fair value of the investment property has been arrived at on the basis of a valuation carried out at August 202 3 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The director considers that the fair value of the property has not materially changed at the year end.

6
Debtors: amounts falling due within one year
2025
2024
£
£
Trade debtors
68,545
67,839
Other debtors
29,280
8,504
97,825
76,343
STEVE ANDREWS (TYRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
167,103
187,153
Other taxation and social security
158,204
157,630
Other creditors
13,181
21,247
338,488
366,030

Hire purchase agreements are secured against the assets to which they relate. The amount outstanding at 30 April 202 5 was £0 (202 4: £5,568) and has been included within other creditors.

8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
53,174
49,464
9
Deferred taxation
Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
37,060
33,350
Revaluations of investment property
16,114
16,114
53,174
49,464
2025
Movements in the year:
£
Liability at 1 May 2024
49,464
Charge to profit or loss
3,710
Liability at 30 April 2025
53,174
2025-04-30 2024-05-01 false false false 19 September 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr S P Andrews Mrs V M Everett 03011532 2024-05-01 2025-04-30 03011532 bus:Director1 2024-05-01 2025-04-30 03011532 bus:CompanySecretary1 2024-05-01 2025-04-30 03011532 2025-04-30 03011532 core:OtherResidualIntangibleAssets 2025-04-30 03011532 core:OtherResidualIntangibleAssets 2024-04-30 03011532 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-04-30 03011532 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-04-30 03011532 2024-04-30 03011532 core:LandBuildings core:OwnedOrFreeholdAssets 2025-04-30 03011532 core:PlantMachinery 2025-04-30 03011532 core:FurnitureFittings 2025-04-30 03011532 core:ComputerEquipment 2025-04-30 03011532 core:MotorVehicles 2025-04-30 03011532 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 03011532 core:PlantMachinery 2024-04-30 03011532 core:FurnitureFittings 2024-04-30 03011532 core:ComputerEquipment 2024-04-30 03011532 core:MotorVehicles 2024-04-30 03011532 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 03011532 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 03011532 core:CurrentFinancialInstruments 2025-04-30 03011532 core:CurrentFinancialInstruments 2024-04-30 03011532 core:ShareCapital 2025-04-30 03011532 core:ShareCapital 2024-04-30 03011532 core:RevaluationReserve 2025-04-30 03011532 core:RevaluationReserve 2024-04-30 03011532 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-01 2025-04-30 03011532 core:PlantMachinery 2024-05-01 2025-04-30 03011532 core:FurnitureFittings 2024-05-01 2025-04-30 03011532 core:ComputerEquipment 2024-05-01 2025-04-30 03011532 core:MotorVehicles 2024-05-01 2025-04-30 03011532 2023-05-01 2024-04-30 03011532 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-04-30 03011532 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 03011532 core:PlantMachinery 2024-04-30 03011532 core:FurnitureFittings 2024-04-30 03011532 core:ComputerEquipment 2024-04-30 03011532 core:MotorVehicles 2024-04-30 03011532 2024-04-30 03011532 core:WithinOneYear 2025-04-30 03011532 core:WithinOneYear 2024-04-30 03011532 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 03011532 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 03011532 bus:FRS102 2024-05-01 2025-04-30 03011532 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 03011532 bus:FullAccounts 2024-05-01 2025-04-30 xbrli:pure xbrli:shares iso4217:GBP