REGISTERED NUMBER: 00931803 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

BLENDWORTH TYRES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Powell

G M Powell

SECRETARY:

G M Powell

REGISTERED OFFICE:

Whichers Gate Garage

Whichers Gate Road

Rowlands Castle

Hampshire

PO9 6BB

REGISTERED NUMBER:

00931803 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

BANKERS:

Natwest Bank PLC

4 The High Street

Petersfield

Hampshire

GU32 3JF

FIXED ASSETS

Tangible assets

4

1,029,226

1,067,525

Investments

5

5,500

5,500

1,034,726

1,073,025

CURRENT ASSETS

Stocks

543,382

593,588

Debtors

6

236,876

193,511

Cash at bank and in hand

15,364

36,481

795,622

823,580

CREDITORS

Amounts falling due within one year

7

668,823

709,591

NET CURRENT ASSETS

126,799

113,989

TOTAL ASSETS LESS CURRENT LIABILITIES

1,161,525

1,187,014

CREDITORS

Amounts falling due after more than one year

8

(44,879

)

(48,016

)

PROVISIONS FOR LIABILITIES

(79,277

)

(79,999

)

NET ASSETS

1,037,369

1,058,999

CAPITAL AND RESERVES

Called up share capital

10

980

980

Revaluation reserve

11

564,704

564,704

Retained earnings

471,685

493,315

SHAREHOLDERS' FUNDS

1,037,369

1,058,999

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th July 2025 and were signed on its behalf by:

S J Powell - Director

G M Powell - Director

1.	STATUTORY INFORMATION

Blendworth 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Basic financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

Tangible fixed assets

Tangible fixed assets comprise a freehold property and land, the property had been depreciated at 2% on cost and the land has not been depreciated.

The land and buildings are included at market value, with any changes in that value being taken to the statement of recognised gains and losses, unless a drop in valuation is expected to be permanent, in which case it is charged to the profit and loss account.

The directors have valued the properties and believe their valuation adequately reflects the open market valuation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1st January 2024

700,000

10,466

601,431

Additions

-

-

-

Disposals

-

-

-

At 31st December 2024

700,000

10,466

601,431

DEPRECIATION

At 1st January 2024

30,000

1,483

299,071

Charge for year

2,000

209

45,354

Eliminated on disposal

-

-

-

At 31st December 2024

32,000

1,692

344,425

NET BOOK VALUE

At 31st December 2024

668,000

8,774

257,006

At 31st December 2023

670,000

8,983

302,360

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2024

5,846

211,349

45,853

1,574,945

Additions

-

65,412

825

66,237

Disposals

-

(52,813

)

-

(52,813

)

At 31st December 2024

5,846

223,948

46,678

1,588,369

DEPRECIATION

At 1st January 2024

4,379

128,182

44,305

507,420

Charge for year

220

30,807

593

79,183

Eliminated on disposal

-

(27,460

)

-

(27,460

)

At 31st December 2024

4,599

131,529

44,898

559,143

NET BOOK VALUE

At 31st December 2024

1,247

92,419

1,780

1,029,226

At 31st December 2023

1,467

83,167

1,548

1,067,525

Included in cost of land and buildings is freehold land of £ 600,000 (2023 - £ 600,000 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st January 2024

44,015

180,870

224,885

Additions

-

64,760

64,760

Transfer to ownership

(23,015

)

(152,723

)

(175,738

)

At 31st December 2024

21,000

92,907

113,907

DEPRECIATION

At 1st January 2024

6,986

89,339

96,325

Charge for year

2,276

19,484

21,760

Transfer to ownership

(1,158

)

(74,367

)

(75,525

)

At 31st December 2024

8,104

34,456

42,560

NET BOOK VALUE

At 31st December 2024

12,896

58,451

71,347

At 31st December 2023

37,029

91,531

128,560

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2024

and 31st December 2024

5,500

NET BOOK VALUE

At 31st December 2024

5,500

At 31st December 2023

5,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

58,565

45,108

Other debtors

178,311

148,403

236,876

193,511

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

135,036

152,487

Hire purchase contracts

13,888

15,555

Trade creditors

280,721

310,569

Taxation and social security

99,224

127,970

Other creditors

139,954

103,010

668,823

709,591

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

15,347

26,181

Hire purchase contracts

18,334

12,779

Other creditors

11,198

9,056

44,879

48,016

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

26,180

37,014

National Westminster Bank Plc hold a fixed and floating charge against Blendworth Tyres Limited covering all property or undertakings of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

980

Ordinary

£1

980

980

11.

RESERVES

Revaluation

reserve

£

At 1st January 2024

and 31st December 2024

564,704