REGISTERED NUMBER: SC437297 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Tyrefair Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

Mr Harjeev Singh Kandhari

REGISTERED OFFICE:

2nd Floor

22-24 Blythswood Square

Glasgow

G2 4BG

REGISTERED NUMBER:

SC437297 (Scotland)

ACCOUNTANTS:

Wallace White Accountants

2nd Floor

22-24 Blythswood Square

Glasgow

G2 4BG

FIXED ASSETS

Tangible assets

4

149,642

107,296

CURRENT ASSETS

Stocks

167,759

188,459

Debtors

5

127,079

132,797

Cash at bank

40,388

54,899

335,226

376,155

CREDITORS

Amounts falling due within one year

6

523,647

430,036

NET CURRENT LIABILITIES

(188,421

)

(53,881

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(38,779

)

53,415

CREDITORS

Amounts falling due after more than one year

7

14,242

40,511

NET (LIABILITIES)/ASSETS

(53,021

)

12,904

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(53,121

)

12,804

(53,021

)

12,904

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 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.

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 11 March 2025 and were signed by:

Mr Harjeev Singh Kandhari - Director

1.	STATUTORY INFORMATION

Tyrefair Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Plant and machinery etc

-

33% on cost, 20% on cost and 15% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

275,500

Additions

97,875

At 31 January 2025

373,375

DEPRECIATION

At 1 February 2024

168,204

Charge for year

55,529

At 31 January 2025

223,733

NET BOOK VALUE

At 31 January 2025

149,642

At 31 January 2024

107,296

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

-

591

Amounts recoverable on contract

127,079

130,956

Other debtors

-

1,250

127,079

132,797

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

736

10,818

Hire purchase contracts

7,200

22,404

Trade creditors

148,992

149,901

Taxation and social security

52,853

25,294

Other creditors

313,866

221,619

523,647

430,036

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

-

17,888

Hire purchase contracts

14,242

22,623

14,242

40,511

The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2025 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wallace White Accountants

2nd Floor

22-24 Blythswood Square

Glasgow

G2 4BG

11 March 2025