REGISTERED NUMBER: 08006626 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Taff Tyres Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

Mr K Fletcher

Registered office:

Braemore

Pencoed Avenue

Pontypridd

Rhondda Cynon Taff

CF37 4AN

Registered number:

08006626 (England and Wales)

Accountants:

Curtis Bowden & Thomas Limited

Chartered Certified Accountants

101 Dunraven Street

Tonypandy

CF40 1AR

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

59,885

43,848

59,885

43,848

Current assets

Stocks

12,500

2,500

Debtors

6

355,739

293,449

Cash at bank

36,051

115,679

404,290

411,628

Creditors

Amounts falling due within one year

7

63,262

95,268

Net current assets

341,028

316,360

Total assets less current liabilities

400,913

360,208

Creditors

Amounts falling due after more than one year

8

(17,494

)

(11,667

)

Provisions for liabilities

(14,396

)

(10,962

)

Net assets

369,023

337,579

Capital and reserves

Called up share capital

100

100

Retained earnings

368,923

337,479

Shareholders' funds

369,023

337,579

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 19 September 2025 and were signed by:

Mr K Fletcher - Director

1.	Statutory information

Taff 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

10% on cost

Stocks

Stocks 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.

3.	Employees and directors

The average number of employees during the year was 2 (2024 - 2 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2024

and 31 March 2025

20,000

Amortisation

At 1 April 2024

and 31 March 2025

20,000

Net book value

At 31 March 2025

-

At 31 March 2024

-

5.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

159,322

30,466

98,670

2,866

291,324

Additions

30,901

-

-

-

30,901

At 31 March 2025

190,223

30,466

98,670

2,866

322,225

Depreciation

At 1 April 2024

140,588

30,466

74,914

1,508

247,476

Charge for year

8,804

-

5,939

121

14,864

At 31 March 2025

149,392

30,466

80,853

1,629

262,340

Net book value

At 31 March 2025

40,831

-

17,817

1,237

59,885

At 31 March 2024

18,734

-

23,756

1,358

43,848

The net book value of the fixed assets includes £20,018 in respect of an item on hire purchase.(2024 £nil)

6.

Debtors

31.3.25

31.3.24

£

£

Amounts falling due within one year:

Trade debtors

24,711

28,177

Other debtors

6,053

5,039

30,764

33,216

31.3.25

31.3.24

£

£

Amounts falling due after more than one year:

Other debtors

324,975

260,233

Aggregate amounts

355,739

293,449

7.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

5,121

-

Trade creditors

5,289

12,721

Taxation and social security

40,388

70,081

Other creditors

2,464

2,466

63,262

95,268

8.

Creditors: amounts falling due after more than one year

31.3.25

31.3.24

£

£

Bank loans

1,667

11,667

Hire purchase contracts

15,827

-

17,494

11,667

Amounts falling due in more than five years:

Repayable by instalments

Bounce Back Loan

1,667

11,667

9.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Mr K Fletcher

Balance outstanding at start of year

(26

)

(239

)

Amounts advanced

45,979

58,889

Amounts repaid

(46,046

)

(58,676

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(93

)

(26

)

10.	Related party disclosures

11.	Ultimate controlling party

The controlling party is Mr K Fletcher.