Company registration number 06040685 (England and Wales)
NEIL ARNOLD TYRES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
NEIL ARNOLD TYRES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
NEIL ARNOLD TYRES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
109,003
78,669
Current assets
Stocks
100,305
79,219
Debtors
6
250,544
101,459
Cash at bank and in hand
30,642
6,467
381,491
187,145
Creditors: amounts falling due within one year
7
(240,153)
(161,732)
Net current assets
141,338
25,413
Total assets less current liabilities
250,341
104,082
Creditors: amounts falling due after more than one year
8
(10,814)
-
0
Provisions for liabilities
(20,932)
(17,844)
Net assets
218,595
86,238
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
218,495
86,138
Total equity
218,595
86,238

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

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have 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.

NEIL ARNOLD TYRES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 July 2025 and are signed on its behalf by:
Mr S J Arnold
Director
Company Registration No. 06040685
NEIL ARNOLD TYRES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information

Neil Arnold Tyres Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bampton Street, Minehead, Somerset, United Kingdom, TA24 5TR.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
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.

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:

Land and buildings Freehold
Not depreciated
Leasehold improvements
10 years Straight Line
Plant and machinery
5 years Straight Line
Motor vehicles
6 years Straight Line

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

NEIL ARNOLD TYRES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

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

NEIL ARNOLD TYRES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
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 is 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.

1.8
Retirement benefits

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

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2025
2024
Number
Number
Total
13
7
NEIL ARNOLD TYRES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
60,000
Amortisation and impairment
At 1 February 2024 and 31 January 2025
60,000
Carrying amount
At 31 January 2025
-
0
At 31 January 2024
-
0
5
Tangible fixed assets
Land and buildings Freehold
Leasehold improvements
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2024
-
0
3,672
117,968
45,731
167,371
Additions
24,151
-
0
17,054
12,977
54,182
Disposals
-
0
-
0
(2,996)
-
0
(2,996)
At 31 January 2025
24,151
3,672
132,026
58,708
218,557
Depreciation and impairment
At 1 February 2024
-
0
459
70,342
17,901
88,702
Depreciation charged in the year
-
0
367
14,631
8,850
23,848
Eliminated in respect of disposals
-
0
-
0
(2,996)
-
0
(2,996)
At 31 January 2025
-
0
826
81,977
26,751
109,554
Carrying amount
At 31 January 2025
24,151
2,846
50,049
31,957
109,003
At 31 January 2024
-
0
3,213
47,626
27,830
78,669
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
68,278
54,149
Other debtors
182,266
47,310
250,544
101,459
NEIL ARNOLD TYRES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
140,745
89,233
Taxation and social security
97,846
70,702
Other creditors
1,562
1,797
240,153
161,732
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
10,814
-
0
9
Directors' transactions
During the year, the company paid the directors, Mr N and Mrs S Arnold, rent of £36,780 (2024 £32,380)
10
Controlling interest

As at 31 January 2021 there was a management buyout by Subiaco Property Holdings Ltd of which Mr Stephen Arnold is a director and shareholder.

2025-01-31 2024-02-01 false false false 03 July 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr N Arnold Mr S J Arnold Mrs S Arnold Mr D Cunningham Mr J Compton Mrs S Arnold 06040685 2024-02-01 2025-01-31 06040685 2025-01-31 06040685 2024-01-31 06040685 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-31 06040685 core:LeaseholdImprovements 2025-01-31 06040685 core:PlantMachinery 2025-01-31 06040685 core:MotorVehicles 2025-01-31 06040685 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 06040685 core:LeaseholdImprovements 2024-01-31 06040685 core:PlantMachinery 2024-01-31 06040685 core:MotorVehicles 2024-01-31 06040685 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 06040685 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 06040685 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 06040685 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 06040685 core:CurrentFinancialInstruments 2025-01-31 06040685 core:CurrentFinancialInstruments 2024-01-31 06040685 core:ShareCapital 2025-01-31 06040685 core:ShareCapital 2024-01-31 06040685 core:RetainedEarningsAccumulatedLosses 2025-01-31 06040685 core:RetainedEarningsAccumulatedLosses 2024-01-31 06040685 bus:Director2 2024-02-01 2025-01-31 06040685 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 06040685 core:LeaseholdImprovements core:LeasedAssetsHeldAsLessee 2024-02-01 2025-01-31 06040685 core:PlantMachinery 2024-02-01 2025-01-31 06040685 core:MotorVehicles 2024-02-01 2025-01-31 06040685 2023-02-01 2024-01-31 06040685 core:NetGoodwill 2024-01-31 06040685 core:NetGoodwill 2025-01-31 06040685 core:NetGoodwill 2024-01-31 06040685 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 06040685 core:LeaseholdImprovements 2024-01-31 06040685 core:PlantMachinery 2024-01-31 06040685 core:MotorVehicles 2024-01-31 06040685 2024-01-31 06040685 core:LeaseholdImprovements 2024-02-01 2025-01-31 06040685 core:Non-currentFinancialInstruments 2025-01-31 06040685 core:Non-currentFinancialInstruments 2024-01-31 06040685 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 06040685 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 06040685 bus:FRS102 2024-02-01 2025-01-31 06040685 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 06040685 bus:Director1 2024-02-01 2025-01-31 06040685 bus:Director3 2024-02-01 2025-01-31 06040685 bus:Director4 2024-02-01 2025-01-31 06040685 bus:Director5 2024-02-01 2025-01-31 06040685 bus:CompanySecretary1 2024-02-01 2025-01-31 06040685 bus:FullAccounts 2024-02-01 2025-01-31 xbrli:pure xbrli:shares iso4217:GBP