Silverfin false false 31/05/2025 01/06/2024 31/05/2025 A K White 09/05/2012 01 December 2025 The principal activity of the Company during the financial year was that of a tyre retailer. 08062832 2025-05-31 08062832 bus:Director1 2025-05-31 08062832 2024-05-31 08062832 core:CurrentFinancialInstruments 2025-05-31 08062832 core:CurrentFinancialInstruments 2024-05-31 08062832 core:Non-currentFinancialInstruments 2025-05-31 08062832 core:Non-currentFinancialInstruments 2024-05-31 08062832 core:ShareCapital 2025-05-31 08062832 core:ShareCapital 2024-05-31 08062832 core:RetainedEarningsAccumulatedLosses 2025-05-31 08062832 core:RetainedEarningsAccumulatedLosses 2024-05-31 08062832 core:Goodwill 2024-05-31 08062832 core:Goodwill 2025-05-31 08062832 core:LandBuildings 2024-05-31 08062832 core:PlantMachinery 2024-05-31 08062832 core:OfficeEquipment 2024-05-31 08062832 core:LandBuildings 2025-05-31 08062832 core:PlantMachinery 2025-05-31 08062832 core:OfficeEquipment 2025-05-31 08062832 core:MoreThanFiveYears 2025-05-31 08062832 core:MoreThanFiveYears 2024-05-31 08062832 2024-06-01 2025-05-31 08062832 bus:FilletedAccounts 2024-06-01 2025-05-31 08062832 bus:SmallEntities 2024-06-01 2025-05-31 08062832 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 08062832 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 08062832 bus:Director1 2024-06-01 2025-05-31 08062832 core:Goodwill core:TopRangeValue 2024-06-01 2025-05-31 08062832 core:Goodwill 2024-06-01 2025-05-31 08062832 core:LandBuildings core:TopRangeValue 2024-06-01 2025-05-31 08062832 core:PlantMachinery 2024-06-01 2025-05-31 08062832 core:OfficeEquipment 2024-06-01 2025-05-31 08062832 2023-06-01 2024-05-31 08062832 core:LandBuildings 2024-06-01 2025-05-31 08062832 core:Non-currentFinancialInstruments 2024-06-01 2025-05-31 iso4217:GBP xbrli:pure

Company No: 08062832 (England and Wales)

# A K W TYRE SERVICES LIMITED

### Unaudited Financial Statements
For the financial year ended 31 May 2025
Pages for filing with the registrar

A K W TYRE SERVICES LIMITED

## Unaudited Financial Statements

For the financial year ended 31 May 2025

Contents

A K W TYRE SERVICES LIMITED

## BALANCE SHEET

As at 31 May 2025
A K W TYRE SERVICES LIMITED

## BALANCE SHEET (continued)

As at 31 May 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 266,428 |  | 275,837
|  | 266,428 |  | 275,837
Current assets |  |  |  |
Stocks |  | 41,607 |  | 36,136
Debtors | 5 | 30,757 |  | 27,168
Cash at bank and in hand |  | 84,995 |  | 71,736
|  | 157,359 |  | 135,040
Creditors: amounts falling due within one year | 6 | ( 104,813) |  | ( 115,464)
Net current assets |  | 52,546 |  | 19,576
Total assets less current liabilities |  | 318,974 |  | 295,413
Creditors: amounts falling due after more than one year | 7 | ( 116,651) |  | ( 129,175)
Provision for liabilities | 8 | ( 3,317) |  | ( 5,354)
Net assets |  | 199,006 |  | 160,884
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 198,906 |  | 160,784
Total shareholders' funds |  | 199,006 |  | 160,884

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of A K W Tyre Services Limited (registered number: 08062832) were approved and authorised for issue by the Director on 01 December 2025. They were signed on its behalf by:

A K White Director |

A K W TYRE SERVICES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
A K W TYRE SERVICES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

A K W Tyre Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Unit 11, Bancombe Court, Bancombe Road Trading Estate, Somerton, Somerset, TA11 6SB.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### 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.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line

###### Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 50 years straight line
Plant and machinery | 20 % reducing balance
Office equipment | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
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.

##### 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.

##### 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 creditors: amounts falling due within one year.

##### 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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 4 |  | 4

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 June 2024 | 8,397 |  | 8,397
At 31 May 2025 | 8,397 |  | 8,397
Accumulated amortisation |  |  |
At 01 June 2024 | 8,397 |  | 8,397
At 31 May 2025 | 8,397 |  | 8,397
Net book value |  |  |
At 31 May 2025 | 0 |  | 0
At 31 May 2024 | 0 |  | 0

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 June 2024 | 268,239 |  | 62,860 |  | 4,572 |  | 335,671
Additions | 0 |  | 1,198 |  | 0 |  | 1,198
At 31 May 2025 | 268,239 |  | 64,058 |  | 4,572 |  | 336,869
Accumulated depreciation |  |  |  |  |  |  |
At 01 June 2024 | 22,512 |  | 34,055 |  | 3,267 |  | 59,834
Charge for the financial year | 4,412 |  | 5,934 |  | 261 |  | 10,607
At 31 May 2025 | 26,924 |  | 39,989 |  | 3,528 |  | 70,441
Net book value |  |  |  |  |  |  |
At 31 May 2025 | 241,315 |  | 24,069 |  | 1,044 |  | 266,428
At 31 May 2024 | 245,727 |  | 28,805 |  | 1,305 |  | 275,837

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 11,806 |  | 13,763
Amounts owed by director | 11,858 |  | 12,400
Prepayments | 5,312 |  | 0
VAT recoverable | 1,574 |  | 1,005
Other debtors | 207 |  | 0
| 30,757 |  | 27,168

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 6,275 |  | 10,469
Trade creditors | 73,849 |  | 87,446
Accruals | 4,838 |  | 4,084
Taxation and social security | 19,792 |  | 13,465
Other creditors | 59 |  | 0
| 104,813 |  | 115,464

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 116,651 |  | 129,175

Bank borrowings are secured by a fixed legal charge over one of the freehold properties.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 87,887 |  | 87,301

#### 8. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 3,317 |  | 5,354

#### 9. Related party transactions

Transactions with the entity's director

Advances

The joint director and secretary loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 per person at the official HMRC rates.
At 1 June 2024, the balance owed by the director and secretary was £12,400. During the year, £19,877 was advanced and £20,419 was repaid. At 31 May 2025, the balance owed by the director and secretary was £11,858.
At 1 June 2023, the balance owed by the director and secretary was £4,800. During the year, £30,558 was advanced and £22,958 was repaid. At 31 May 2024, the balance owed by the director and secretary was £12,400.