REGISTERED NUMBER: 05157993 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

QUINTON TYRES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S B Quinn

SECRETARY:

S B Quinn

REGISTERED OFFICE:

Booth Street Chambers

Ashton under Lyne

Lancashire

OL6 7LQ

REGISTERED NUMBER:

05157993 (England and Wales)

ACCOUNTANTS:

Moss & Williamson

Chartered Accountants

Booth Street Chambers

Ashton-under-Lyne

Lancashire

OL6 7LQ

BANKERS:

National Westminster Bank plc

5th Floor

1 Spinningfields Square

Deansgate

Manchester

M3 3AP

FIXED ASSETS

Tangible assets

4

466,031

94,185

CURRENT ASSETS

Stocks

141,148

110,862

Debtors

340,422

401,543

Cash at bank and in hand

231,107

357,544

712,677

869,949

CREDITORS

Amounts falling due within one year

544,372

696,760

NET CURRENT ASSETS

168,305

173,189

TOTAL ASSETS LESS CURRENT LIABILITIES

634,336

267,374

CREDITORS

Amounts falling due after more than one year

(300,000

)

-

PROVISIONS FOR LIABILITIES

(90,120

)

(23,546

)

NET ASSETS

244,216

243,828

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

244,116

243,728

SHAREHOLDERS' FUNDS

244,216

243,828

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 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 September 2025 and were signed by:

S B Quinn - Director

1.	STATUTORY INFORMATION

Quinton 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

Turnover represents net invoiced sales of goods and services excluding value added tax.

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 etc

-

33% on cost and 15% 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 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 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.

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.

Invoice discounting

Gross debts are included within trade debtors and the proceeds from invoice discounting shown separately within creditors due within one year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

710,703

Additions

448,495

At 31 December 2024

1,159,198

DEPRECIATION

At 1 January 2024

616,518

Charge for year

76,649

At 31 December 2024

693,167

NET BOOK VALUE

At 31 December 2024

466,031

At 31 December 2023

94,185

5.	FINANCIAL GUARANTEES

The bank holds unlimited cross guarantees in favour of Global Remould Services Limited, the parent company; Global Casing Logistics Limited, a fellow subsidiary and Charles Stuart Properties Limited, a company owned by Mr S B Quinn. At the balance sheet date the potential liability was £1,874,247 (2023 - £2,191,354).