BrightAccountsProduction v1.0.0 v1.0.0 2024-04-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the wholesale and retailing of motor vehicle, lorry and agricultural tyres and associated services relating to this activity. 30 May 2025 NI691499 2025-03-31 NI691499 2024-03-31 NI691499 2023-03-31 NI691499 2024-04-01 2025-03-31 NI691499 2023-04-01 2024-03-31 NI691499 uk-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 NI691499 uk-curr:PoundSterling 2024-04-01 2025-03-31 NI691499 uk-bus:FullAccounts 2024-04-01 2025-03-31 NI691499 uk-bus:Director1 2024-04-01 2025-03-31 NI691499 uk-bus:RegisteredOffice 2024-04-01 2025-03-31 NI691499 uk-bus:Agent1 2024-04-01 2025-03-31 NI691499 uk-bus:Audited 2024-04-01 2025-03-31 NI691499 uk-core:ShareCapital 2025-03-31 NI691499 uk-core:ShareCapital 2024-03-31 NI691499 uk-core:RetainedEarningsAccumulatedLosses 2025-03-31 NI691499 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI691499 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-03-31 NI691499 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI691499 uk-core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 NI691499 uk-bus:FRS102 2024-04-01 2025-03-31 NI691499 uk-core:PlantMachinery 2024-04-01 2025-03-31 NI691499 uk-core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 NI691499 uk-core:MotorVehicles 2024-04-01 2025-03-31 NI691499 uk-core:TotalPropertyPlantEquipmentOtherThanExplorationEvaluationAssets 2024-04-01 2025-03-31 NI691499 uk-core:TotalPropertyPlantEquipmentOtherThanExplorationEvaluationAssets 2022-10-01 2024-03-31 NI691499 uk-core:CurrentFinancialInstruments 2025-03-31 NI691499 uk-core:CurrentFinancialInstruments 2024-03-31 NI691499 uk-core:WithinOneYear 2025-03-31 NI691499 uk-core:WithinOneYear 2024-03-31 NI691499 uk-core:EmployeeBenefits 2024-03-31 NI691499 uk-core:EmployeeBenefits 2024-04-01 2025-03-31 NI691499 uk-core:AcceleratedTaxDepreciationDeferredTax 2025-03-31 NI691499 uk-core:TaxLossesCarry-forwardsDeferredTax 2025-03-31 NI691499 uk-core:OtherDeferredTax 2025-03-31 NI691499 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-03-31 NI691499 uk-core:EmployeeBenefits 2025-03-31 NI691499 uk-bus:OrdinaryShareClass1 2024-04-01 2025-03-31 NI691499 uk-bus:OrdinaryShareClass1 2025-03-31 NI691499 2024-04-01 2025-03-31 xbrli:pure iso4217:GBP xbrli:shares

Murray Tyres Wholesale Ltd

Reports and Financial Statements

for the financial year ended 31 March 2025

Murray Tyres Wholesale Ltd

DIRECTOR AND OTHER INFORMATION

Director | Dominic Murray
Company Registration Number | NI691499
Registered Office and Business Address | 95-105 Church Street
| Portadown
| Armagh
| BT62 3DB
Independent Auditors | MG accountants
| (Portadown)
| 25-27 Carleton Street
| Portadown
| Co. Armagh
| BT62 3EP
Bankers | Danske Bank
| 45-48 High Street
| Portadown
| Co. Armagh
| BT62 1LB
| United Kingdom
Solicitors | RM Cullen & Son
| 16-20 Edward Street
| Portadown
| Co. Armagh
| BT62 3NL
| United Kingdom

Murray Tyres Wholesale Ltd

STRATEGIC REPORT

for the financial year ended 31 March 2025

The director presents their strategic report on the company for the financial year ended 31 March 2025.

Business overview

The business’s principal activity is the wholesale of motor vehicle, lorry and agricultural tyres and associated services relating to this activity.

Business review

The turnover for the financial period amounted to £11,426,949. This turnover relates to the wholesale business activity for a 12 month trading period (2024: 15 month period). Despite inflationary pressures gross margin has been achieved as forecast though the Director expects some uncertainty over cost prices in the future which may squeeze gross margin.

Cost Control Risk

Management continually monitors costs and variances to test against margin requirements. A strategy of building long term supplier relationships is employed with price monitoring to ensure best value and consistency of service delivery.

Key performance indicators

The Key performance indicators during the financial year were as follows:

|  | 2025 | 2024
|  | £ | £
Turnover |  | 11,427 | 15,936
Gross profit margin % |  | 14 | 14
Operating profit margin % |  | 10 | 8
Financial Risk Management

The company operations expose it to a variety of financial risks. The risks centre on the company‘s buying policy as goods require significant upfront payments before delivery. The company has implemented policies and procedures to monitor and reduce financial risk within the entity. Ongoing financial performance is monitored and reviewed to manage both short and long term performance. In particular, it is important for the success of the business to retain significant liquid assets for working capital to ensure supplies will not be disrupted or reduced.

Brexit & Customs Requirements

In June 2016, the UK voted by referendum to leave the EU. This created onerous customs administration processes for trade between the UK, NI and EU. The business mitigated the risk associated with the introduction of the customs requirements by working closely with its customers and suppliers to ensure the smooth movement of goods across international borders.

Business continuity risk

The company engages with an outsourced IT infrastructure firm, employing onsite and offsite data backup services. There is an ongoing review of hardware, software and protocols to ensure that any risk from current or future activities is managed and associated risk mitigated.

Foreign exchange risk

The main denominations used within the company are Sterling and Euro. Currency risk is further mitigated where possible through the balancing of supplier invoiced payments. Large purchases/stock supplies are agreed in terms of price/sterling equivalent when ordered.

Compliance risk

The company is exposed to a number of regulatory frameworks specific to the purchase, disposal and storage time of tyres. In addition to the standard health and safety and employment requirements, there is continued emphasis and investment of time and resources to ensure ongoing compliance in all of these areas.

Credit risk

The company is exposed to credit risk and has implemented robust policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to any customer is subject to limits which is reassessed regularly by the credit control and management team.

On behalf of the board

___________________________ |  |  |
Dominic Murray |  |  |
Director |  |  |
30 May 2025 |  |  |

Murray Tyres Wholesale Ltd

DIRECTOR'S REPORT

for the financial year ended 31 March 2025

The director presents their report and the audited financial statements for the financial year ended 31 March 2025.

Principal Activity

The principal activity of the company is the wholesale and retailing of motor vehicle, lorry and agricultural tyres and associated services relating to this activity.

Results and Dividends

The profit for the financial year after providing for depreciation and taxation amounted to £846,770 (2024 - £983,709).

The director does not recommend payment of a dividend.

Director

The director who served during the financial year is as follows:

Dominic Murray

There were no changes in shareholdings between 31 March 2025 and the date of signing the financial statements.

In accordance with the Constitution, the director retire by rotation and, being eligible, offer themselves for re-election.

Future Developments

The company plans to continue its present activities and current trading levels. Employees are kept as fully informed as practicable about developments within the business.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.

Political Contributions

The company did not make any disclosable political donations in the current financial year.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, Director's Report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the director must not approve the financial statements unless they is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: -select suitable accounting policies and apply them consistently; -make judgements and accounting estimates that are reasonable and prudent; -prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditor Each person who is a director at the date of approval of this report confirms that: In so far as the director is aware: -there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and -the director has taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Auditors

The auditors, MG accountants have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.

On behalf of the board

___________________________

Dominic Murray

Director

30 May 2025

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of Murray Tyres Wholesale Ltd

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Murray Tyres Wholesale Ltd ('the company') for the financial year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements: -give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the financial year then ended; -have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and -have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- | the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Strategic Report and the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept; or
- | the financial statements are not in agreement with the accounting records and returns; or
- | certain disclosures of director's remuneration specified by law are not made; or
- | we have not received all the information and explanations we require for our audit.

Responsibilities of director for the financial statements

The director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

__________________________________

Martin Grimley (Senior Statutory Auditor)

for and on behalf of

MG accountants

(Portadown)

25-27 Carleton Street

Portadown

Co. Armagh

BT62 3EP

30 May 2025

Murray Tyres Wholesale Ltd

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- | Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

- | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- | Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.

- | Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Murray Tyres Wholesale Ltd

PROFIT AND LOSS ACCOUNT

for the financial year ended 31 March 2025

|  | 2025 |  | 2024
| Notes | £ |  | £

Turnover | 5 | 11,426,949 |  | 15,935,945
Cost of sales |  | (9,860,318) |  | (13,749,634)
|  | ───────── |  | ─────────
Gross profit |  | 1,566,631 |  | 2,186,311
Administrative expenses |  | (435,325) |  | (893,899)
|  | ───────── |  | ─────────
Profit before taxation |  | 1,131,306 |  | 1,292,412
Tax on profit | 8 | (284,536) |  | (308,703)
|  | ───────── |  | ─────────
Profit for the financial year |  | 846,770 |  | 983,709
|  | ───────── |  | ─────────
Total comprehensive income |  | 846,770 |  | 983,709
|  | ═════════ |  | ═════════

Murray Tyres Wholesale Ltd

Company Registration Number: NI691499

BALANCE SHEET

as at 31 March 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Fixed Assets

Tangible assets |  | 9 | 108,659 |  | 94,082
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  | 10 | 818,009 |  | 1,252,939
Debtors |  | 11 | 2,871,977 |  | 2,880,686
Cash and cash equivalents |  | 12 | 578,086 |  | 1,022,719
|  |  | ───────── |  | ─────────
|  |  | 4,268,072 |  | 5,156,344
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 13 | (2,519,086) |  | (4,243,195)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 1,748,986 |  | 913,149
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 1,857,645 |  | 1,007,231
Provisions for liabilities |  | 15 | (27,165) |  | (23,521)
|  |  | ───────── |  | ─────────
Net Assets |  |  | 1,830,480 |  | 983,710
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  | 16 | 1 |  | 1
Retained earnings |  |  | 1,830,479 |  | 983,709
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 1,830,480 |  | 983,710
|  |  | ═════════ |  | ═════════
Approved by the Director and authorised for issue on 30 May 2025

________________________________ |  |  |  |  |
Dominic Murray |  |  |  |  |
Director |  |  |  |  |

Murray Tyres Wholesale Ltd

STATEMENT OF CHANGES IN EQUITY

as at 31 March 2025

| Called up | Retained | Total
| share | earnings |
| capital |  |
| £ | £ | £
At 1 October 2022 | - | - | -
| ───────── | ───────── | ─────────
Profit for the financial period | - | 983,709 | 983,709
| ───────── | ───────── | ─────────
Net proceeds of equity

ordinary share issue | 1 | - | 1
| ───────── | ───────── | ─────────
At 31 March 2024 | 1 | 983,709 | 983,710
| ───────── | ───────── | ─────────
Profit for the financial year | - | 846,770 | 846,770
| ───────── | ───────── | ─────────
At 31 March 2025 | 1 | 1,830,479 | 1,830,480
| ═════════ | ═════════ | ═════════

Murray Tyres Wholesale Ltd

STATEMENT OF CASH FLOWS

for the financial year ended 31 March 2025

|  | 2025 | 2024
| Notes | £ | £

Cash flows from operating activities

Profit for the financial year |  | 846,770 | 983,709
Adjustments for:

Tax on profit on ordinary activities |  | 284,536 | 308,703
Depreciation |  | 36,220 | 31,196
|  | ───────── | ─────────
|  | 1,167,526 | 1,323,608
Movements in working capital:

Movement in stocks |  | 434,930 | (1,252,939)
Movement in debtors |  | 8,709 | (2,880,686)
Movement in creditors |  | (784,392) | 1,092,828
|  | ───────── | ─────────
Cash generated from/(used in) operations |  | 826,773 | (1,717,189)
Tax paid |  | (285,107) | -
|  | ───────── | ─────────
Net cash generated from/(used in) operating activities |  | 541,666 | (1,717,189)
|  | ───────── | ─────────
Cash flows from investing activities

Payments to acquire tangible assets |  | (50,797) | (125,278)
|  | ───────── | ─────────
Cash flows from financing activities

Issue of equity share capital |  | - | 1
Movement in funding from connected parties |  | (935,502) | 2,865,185
|  | ───────── | ─────────
Net cash (used in)/generated from financing activities |  | (935,502) | 2,865,186
|  | ───────── | ─────────
Net (decrease)/increase in cash and cash equivalents |  | (444,633) | 1,022,719
Cash and cash equivalents at beginning of financial year |  | 1,022,719 | -
|  | ───────── | ─────────
Cash and cash equivalents at end of financial year | 12 | 578,086 | 1,022,719
|  | ═════════ | ═════════

Murray Tyres Wholesale Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

1. | General Information
| Murray Tyres Wholesale Limited is a company limited by shares incorporated in Northern Ireland

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the financial year ended 31 March 2025 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
| Revenue Recognition
| Revenue is recognised when goods have been delivered, and where necessary, proof of delivery has been received.
| Tangible assets and depreciation
| Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Plant and machinery | - | 25% Straight line
|  | Fixtures, fittings and equipment | - | 25% Reducing Balance
|  | Motor vehicles | - | 25% Reducing Balance
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Stocks
| Stocks are valued at the lower of cost and net realisable value. Cost comprises the average price of goods purchased by calculating the unit cost on the initial cost price and the reorder cost price. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Provisions
| Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Employee benefits
| The company contributes to pension schemes for key employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
| Taxation and deferred taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
| Foreign currencies
| Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.

3. | Significant accounting judgements and key sources of estimation uncertainty
| In applying the company‘s accounting policies the directors are required to make significant judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors‘ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The items in the financial statements where these judgements and estimates have been made include: (i) Determining and reassessing the residual values and useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and physical condition of the assets. (ii) Recoverability of debtors Short term debtors are measured at transaction price, less any impairment. Estimates are made in respect to the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered. (iii) Stock Valuation The company operate a perpetual stock control system with bespoke software which records the number of tyres held, make, size, age and purchase price. The purchase price on the stock listing may be adjusted as the system will update prices to an average cost price when reorders of the same product are updated to the system. This average price is used to value unit stock existing at the year end. Full provision is made for obsolete and slow-moving stock.

4. | Period of financial statements
| The comparative figures relate to the 18 month period ended 31 March 2024.

5. | Turnover
| An analysis of turnover by class of business and geographical market is not given as, in the opinion of the directors, this would be seriously prejudicial to the company's interest.

6. | Operating profit | 2025 | 2024
|  | £ | £
| Operating profit is stated after charging:
| Depreciation of tangible assets | 36,220 | 31,196
| Auditor's remuneration
| - audit services | 14,500 | 12,500
|  | ═════════ | ═════════

7. | Employees and remuneration
| Number of employees
| The average number of persons employed (including executive director) during the financial year was as follows:
|  | 2025 | 2024
|  | Number | Number
| Director | 1 | 1
| Employees | 10 | 12
|  | ───────── | ─────────
|  | 11 | 13
|  | ═════════ | ═════════

8. | Tax on profit
|  | 2025 | 2024
|  | £ | £
| (a) Analysis of charge in the financial year
| Current tax:
| Corporation tax at 25.00% (2024 - 25.00%) (Note 8 (b)) | 280,892 | 285,182
|  | ───────── | ─────────
| Deferred tax:
| Origination and reversal of timing differences | 3,644 | 23,521
|  | ───────── | ─────────
| Total deferred tax | 3,644 | 23,521
|  | ═════════ | ═════════
| Tax on profit (Note 8 (b)) | 284,536 | 308,703
|  | ═════════ | ═════════
| (b) Factors affecting tax charge for the financial year
| The tax assessed for the financial year differs from the standard rate of corporation tax in the 25.00% (2024 - 25.00%). The differences are explained below:
|  | 2025 | 2024
|  | £ | £
| Profit taxable at 25.00% | 1,131,306 | 1,292,412
|  | ═════════ | ═════════
| Profit before tax
| multiplied by the standard rate of corporation tax
| in the at 25.00% (2024 - 25.00%) | 282,827 | 323,103
| Effects of:
| Expenses not deductible for tax purposes | 1,710 | 1,399
| Capital allowances for period in excess of depreciation | (3,645) | (23,521)
| Deferred tax | 3,644 | 23,521
| Represents difference in annual tax rates | - | (15,799)
|  | ───────── | ─────────
| Total tax charge for the financial year (Note 8 (a)) | 284,536 | 308,703
|  | ═════════ | ═════════

9. | Tangible assets
|  | Plant and | Fixtures, | Motor | Total
|  | machinery | fittings and | vehicles |
|  |  | equipment |  |
|  | £ | £ | £ | £
| Cost
| At 1 April 2024 | 2,480 | 17,779 | 105,019 | 125,278
| Additions | - | 2,297 | 48,500 | 50,797
|  | ───────── | ───────── | ───────── | ─────────
| At 31 March 2025 | 2,480 | 20,076 | 153,519 | 176,075
|  | ───────── | ───────── | ───────── | ─────────
| Depreciation
| At 1 April 2024 | 496 | 4,445 | 26,255 | 31,196
| Charge for the financial year | 496 | 3,908 | 31,816 | 36,220
|  | ───────── | ───────── | ───────── | ─────────
| At 31 March 2025 | 992 | 8,353 | 58,071 | 67,416
|  | ───────── | ───────── | ───────── | ─────────
| Net book value
| At 31 March 2025 | 1,488 | 11,723 | 95,448 | 108,659
|  | ═════════ | ═════════ | ═════════ | ═════════
| At 31 March 2024 | 1,984 | 13,334 | 78,764 | 94,082
|  | ═════════ | ═════════ | ═════════ | ═════════

10. | Stocks | 2025 | 2024
|  | £ | £
| Tyres & Related accessories | 818,009 | 1,252,939
|  | ═════════ | ═════════
| The replacement cost of stock did not differ significantly from the figures shown.

11. | Debtors | 2025 | 2024
|  | £ | £
| Trade debtors | 1,223,042 | 1,462,303
| Other debtors | 14,469 | -
| Prepayments and accrued income | 1,634,466 | 1,418,383
|  | ───────── | ─────────
|  | 2,871,977 | 2,880,686
|  | ═════════ | ═════════

12. | Cash and cash equivalents | 2025 | 2024
|  | £ | £
| Cash and bank balances | 578,086 | 1,022,719
|  | ═════════ | ═════════

13. | Creditors | 2025 | 2024
| Amounts falling due within one year | £ | £
| Trade creditors | 20,847 | 926,932
| Amounts owed to connected parties (Note 18) | 1,929,683 | 2,865,185
| Taxation (Note 14) | 554,806 | 438,578
| Accruals | 13,750 | 12,500
|  | ───────── | ─────────
|  | 2,519,086 | 4,243,195
|  | ═════════ | ═════════

14. | Taxation | 2025 | 2024
|  | £ | £
| Creditors:
| VAT | 268,262 | 132,977
| Corporation tax | 280,967 | 285,182
| PAYE / NI | 5,577 | 20,419
|  | ───────── | ─────────
|  | 554,806 | 438,578
|  | ═════════ | ═════════

15. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Total | Total
|  | allowances |  |
|  |  | 2025 | 2024
|  | £ | £ | £
| At financial year start | 23,521 | 23,521 | -
| Charged to profit and loss | 3,644 | 3,644 | 23,521
|  | ───────── | ───────── | ─────────
| At financial year end | 27,165 | 27,165 | 23,521
|  | ═════════ | ═════════ | ═════════

16. | Share capital |  |  | 2025 | 2024
|  |  |  | £ | £
| Description | Number of shares | Value of units |  |
| Allotted, called up and fully paid
| Ordinary Shares £1 each | 1 | £1.00 each | 1 | 1
|  |  |  | ═════════ | ═════════

17. | Capital commitments
| The company had no material capital commitments at the financial year-ended 31 March 2025.

18. | Related party transactions
| The following amounts are due to other connected parties:
|  |  |  | 2025 | 2024
|  |  |  | £ | £
| Murray Tyres Limited |  |  | 1,929,683 | 2,865,185
|  |  |  | ═════════ | ═════════
| The related party is Murray Tyres Limited incorporated and operating in Northern Ireland. Mr Dominic Murray is a shareholder in the company Murray Tyres (Holdings) Ltd, which holds 100% of the shares in Murray Tyres Ltd. Mr Dominic Murray is also a Director of both companies. The balance outstanding to the related party at 31 March 2025 is £1,929,683 (2024: £2,865,185). Transactions with the related party during the period, on an arms length basis include sales of £761,436 and purchases of £352,311. The Company rents storage facilities from the director for £41,600 per annum.

19. | Post-Balance Sheet Events
| There have been no significant events affecting the company since the financial year-end.