| REGISTERED NUMBER: |
| Report of the Members and |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| MARTINS TYRES LLP |
| REGISTERED NUMBER: |
| Report of the Members and |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| MARTINS TYRES LLP |
| MARTINS TYRES LLP (REGISTERED NUMBER: OC441117) |
| Contents of the Financial Statements |
| for the year ended 31 March 2025 |
| Page |
| General Information | 1 |
| Report of the Members | 2 |
| Accountants' Report | 3 |
| Income Statement | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 |
| MARTINS TYRES LLP |
| General Information |
| for the year ended 31 March 2025 |
| Designated members: |
| Registered office: |
| Registered number: |
| Accountants: |
| Broadwalk House, 5th Floor |
| 5 Appold Street |
| Broadgate |
| London |
| EC2A 2AG |
| MARTINS TYRES LLP (REGISTERED NUMBER: OC441117) |
| Report of the Members |
| for the year ended 31 March 2025 |
| The members present their report with the financial statements of the LLP for the year ended 31 March 2025. |
| Principal activity |
| The principal activity of the LLP in the year under review was that of tyres suppliers and fitters. |
| Designated members |
| The designated members during the year under review were: |
| Results for the year and allocation to members |
| The profit for the year before members' remuneration and profit shares was £364,436 (2024 - £271,411 profit). |
| Members' interests |
| On behalf of the members: |
| Accountants' Report to the Members |
| on the Unaudited Financial Statements of |
| Martins Tyres LLP |
| In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Martins Tyres LLP for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us. |
| This report is made solely to the members of Martins Tyres LLP, 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 Martins Tyres LLP and state those matters that we have agreed to state to the members of Martins Tyres LLP, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report. |
| It is your duty to ensure that Martins Tyres LLP 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 Martins Tyres LLP. You consider that Martins Tyres LLP 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 Martins Tyres LLP. 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. |
| Broadwalk House, 5th Floor |
| 5 Appold Street |
| Broadgate |
| London |
| EC2A 2AG |
| MARTINS TYRES LLP (REGISTERED NUMBER: OC441117) |
| Income Statement |
| for the year ended 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Turnover |
| Cost of sales | ( |
) | ( |
) |
| Gross profit |
| Administrative expenses | ( |
) | ( |
) |
| Operating profit |
| Interest receivable and similar income |
| 367,200 | 273,703 |
| Interest payable and similar expenses | ( |
) | ( |
) |
| Profit for the financial year before members' remuneration and profit shares |
364,436 |
271,411 |
| Profit for the financial year before members' remuneration and profit shares |
364,436 |
271,411 |
| Members' remuneration charged as an expense |
4 |
(364,436 |
) |
(271,411 |
) |
| Profit for the financial year available for discretionary division among members |
| MARTINS TYRES LLP (REGISTERED NUMBER: OC441117) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
| Net assets attributable to members | 20,093 | 99,930 |
| Loans and other debts due to members | 9 | 20,093 | 99,930 |
| Total members' interests |
| Loans and other debts due to members | 9 | 20,093 | 99,930 |
| Amounts due from members | 6 | (161,989 | ) | (222,400 | ) |
| (141,896 | ) | (122,470 | ) |
| The members acknowledge their responsibilities for: |
| (a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| MARTINS TYRES LLP (REGISTERED NUMBER: OC441117) |
| Notes to the Financial Statements |
| for the year ended 31 March 2025 |
| 1. | Statutory information |
| Martins Tyres LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| 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 | 15% reducing balance |
| Furniture and Fittings | 15% reducing balance |
| Motor Vehicles | 25% reducing balance |
| Land & Buildings | Not depreciated |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | Employee information |
| The average number of employees during the year was |
| 4. | Information in relation to members |
| 2025 | 2024 |
| £ | £ |
| Members' remuneration charged as an expense |
| Automatic division of profit | 364,436 | 271,411 |
| MARTINS TYRES LLP (REGISTERED NUMBER: OC441117) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 5. | Tangible fixed assets |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| Depreciation |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| 9. | Loans and other debts due to members |
| 2025 | 2024 |
| £ | £ |
| Amounts owed to members in respect of profits | 20,093 | 99,930 |
| Falling due within one year | 20,093 | 99,930 |