REGISTERED NUMBER: 04364012 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Tyre Recovery Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr Stephen Andrew Brain

Mr Liam Brain

SECRETARY:

Mrs Joanne Barbara Marie Brain

REGISTERED OFFICE:

Compound 15

Tudhoe Industrial Estate

Spennymoor

Durham

DL16 6TL

REGISTERED NUMBER:

04364012 (England and Wales)

ACCOUNTANTS:

Peter A Hodgson & Co Limited

Chartered Certified Accountants

Hett Mill Cottage

Hett

Durham

DH6 5LN

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tyre Recovery Limited for the year ended 31 January 2025 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Tyre Recovery Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tyre Recovery Limited and state those matters that we have agreed to state to the Board of Directors of Tyre Recovery Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tyre Recovery Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tyre Recovery Limited. You consider that Tyre Recovery Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tyre Recovery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Peter A Hodgson & Co Limited

Chartered Certified Accountants

Hett Mill Cottage

Hett

Durham

DH6 5LN

3 June 2025

FIXED ASSETS

Tangible assets

4

178,569

175,784

CURRENT ASSETS

Stocks

191,104

205,367

Debtors

5

399,621

367,752

Cash at bank and in hand

89,907

68,249

680,632

641,368

CREDITORS

Amounts falling due within one year

6

654,139

617,389

NET CURRENT ASSETS

26,493

23,979

TOTAL ASSETS LESS CURRENT LIABILITIES

205,062

199,763

CREDITORS

Amounts falling due after more than one year

7

(44,330

)

(46,315

)

PROVISIONS FOR LIABILITIES

(28,215

)

(27,051

)

NET ASSETS

132,517

126,397

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

132,417

126,297

SHAREHOLDERS' FUNDS

132,517

126,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 3 June 2025 and were signed on its behalf by:

Mr Stephen Andrew Brain - Director

1.	STATUTORY INFORMATION

Tyre Recovery 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Land and buildings

-

10% on reducing balance

Plant and machinery etc

-

25% on reducing balance and 20% 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2024

60,611

331,606

392,217

Additions

-

48,118

48,118

Disposals

-

(2,000

)

(2,000

)

At 31 January 2025

60,611

377,724

438,335

DEPRECIATION

At 1 February 2024

27,202

189,231

216,433

Charge for year

3,341

40,697

44,038

Eliminated on disposal

-

(705

)

(705

)

At 31 January 2025

30,543

229,223

259,766

NET BOOK VALUE

At 31 January 2025

30,068

148,501

178,569

At 31 January 2024

33,409

142,375

175,784

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

Plant and

machinery

etc

£

COST

At 1 February 2024

115,984

Additions

35,665

Transfer to ownership

(51,705

)

At 31 January 2025

99,944

DEPRECIATION

At 1 February 2024

53,276

Charge for year

17,661

Transfer to ownership

(32,892

)

At 31 January 2025

38,045

NET BOOK VALUE

At 31 January 2025

61,899

At 31 January 2024

62,708

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

361,607

350,787

Other debtors

38,014

16,965

399,621

367,752

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts (see note 8)

27,507

26,948

Trade creditors

460,915

452,657

Taxation and social security

40,564

33,101

Other creditors

115,153

94,683

654,139

617,389

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

10,833

20,833

Hire purchase contracts (see note 8)

33,497

25,482

44,330

46,315

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.1.25

31.1.24

£

£

Net obligations repayable:

Within one year

27,507

26,948

Between one and five years

33,497

25,482

61,004

52,430

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank loans

20,833

30,833

Lloyds Commercial Finance

99,082

85,219

119,915

116,052

Lloyds Bank plc has a fixed and floating charge of all property and undertaking of the Company.

Lloyds Commercial Finance Limited has a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £27387 (2024 £27161), were paid to the director.

Mr S Brain is a director who owns 70% of the issue share capital, from whom the company rents the property at an annual rent of £25000, (2024 £25000) on normal commercial terms.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Stephen Andrew Brain.