REGISTERED NUMBER: 04970402 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

2 U TYRES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S R CLARK

B P LANDI FCCA

REGISTERED OFFICE:

62 STAKES ROAD

PURBROOK

WATERLOOVILLE

Hampshire

PO7 5NT

REGISTERED NUMBER:

04970402 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

49,790

41,007

49,790

41,007

CURRENT ASSETS

Stocks

103,103

95,860

Debtors

6

117,398

101,457

Cash at bank and in hand

413,611

467,641

634,112

664,958

CREDITORS

Amounts falling due within one year

7

397,533

416,216

NET CURRENT ASSETS

236,579

248,742

TOTAL ASSETS LESS CURRENT LIABILITIES

286,369

289,749

CAPITAL AND RESERVES

Called up share capital

1,250

1,250

Share premium

199,750

199,750

Retained earnings

85,369

88,749

SHAREHOLDERS' FUNDS

286,369

289,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

B P LANDI FCCA - Director

S R CLARK - Director

1.	STATUTORY INFORMATION

2 U 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 2006, 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

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

220,000

AMORTISATION

At 1 January 2024

and 31 December 2024

220,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2024

30,121

144,500

7,887

Additions

3,533

16,173

-

At 31 December 2024

33,654

160,673

7,887

DEPRECIATION

At 1 January 2024

30,121

121,642

7,715

Charge for year

-

6,162

172

At 31 December 2024

30,121

127,804

7,887

NET BOOK VALUE

At 31 December 2024

3,533

32,869

-

At 31 December 2023

-

22,858

172

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

32,200

16,663

231,371

Additions

3,500

-

23,206

At 31 December 2024

35,700

16,663

254,577

DEPRECIATION

At 1 January 2024

14,385

16,501

190,364

Charge for year

7,927

162

14,423

At 31 December 2024

22,312

16,663

204,787

NET BOOK VALUE

At 31 December 2024

13,388

-

49,790

At 31 December 2023

17,815

162

41,007

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

92,352

86,974

Other debtors

25,046

14,483

117,398

101,457

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

207,700

226,575

Taxation and social security

113,114

104,987

Other creditors

76,719

84,654

397,533

416,216