REGISTERED NUMBER: 05146722 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Creigiau Tyres Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S O'Leary

Mrs C O'Leary

M S O'Leary

Mrs C A John

REGISTERED OFFICE:

32 Rhodfa Mes

Broadlands

Bridgend

Mid Glamorgan

CF31 5BF

REGISTERED NUMBER:

05146722 (England and Wales)

ACCOUNTANTS:

Quiff Accountancy Limited

32 Rhodfa Mes

Broadlands

Bridgend

Mid Glamorgan

CF31 5BF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

661,679

857,376

661,679

857,376

CURRENT ASSETS

Debtors

6

102,189

121,907

Cash at bank

33,709

22,358

135,898

144,265

CREDITORS

Amounts falling due within one year

7

244,412

298,363

NET CURRENT LIABILITIES

(108,514

)

(154,098

)

TOTAL ASSETS LESS CURRENT LIABILITIES

553,165

703,278

CREDITORS

Amounts falling due after more than one year

8

286,134

398,762

NET ASSETS

267,031

304,516

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

267,028

304,513

SHAREHOLDERS' FUNDS

267,031

304,516

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 9 December 2025 and were signed on its behalf by:

S O'Leary - Director

1.	STATUTORY INFORMATION

Creigiau Tyres 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.

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 as modified by the revaluation of certain assets.

Turnover

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

Goodwill

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance sheet and amortised over its estimated useful life up to 20 years. This length of time is resumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 10% straight line

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Plant and machinery etc

-

25% on reducing balance

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.

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.

Consolidation

In the opinion of the director, the company and its subsidiary undertaking comprise a small group, therefore consolidated group accounts have not been prepared.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

75,000

AMORTISATION

At 1 April 2024

and 31 March 2025

75,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

Cost or valuation at 31 March 2025 is represented by:

Goodwill

£

Valuation in 2015

75,000

The company's goodwill was valued at £130,000 by the company's previous accountants. This amount was revalued down to £75,000 by HM Revenue and Customs Shares and Assets Revaluation Department and hence the revaluation has taken place. The initial excess of the valuation to HM Revenue and Customs agreed valuation has been unwound against the original postings and the amortisation has been taken to the profit and loss account in order to agree to HM Revenue and Customs requirements.

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

234,631

1,076,653

1,311,284

Additions

-

31,048

31,048

Disposals

-

(130,005

)

(130,005

)

At 31 March 2025

234,631

977,696

1,212,327

DEPRECIATION

At 1 April 2024

-

453,908

453,908

Charge for year

-

150,424

150,424

Eliminated on disposal

-

(53,684

)

(53,684

)

At 31 March 2025

-

550,648

550,648

NET BOOK VALUE

At 31 March 2025

234,631

427,048

661,679

At 31 March 2024

234,631

622,745

857,376

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

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

643,700

DEPRECIATION

At 1 April 2024

201,003

Charge for year

74,402

At 31 March 2025

275,405

NET BOOK VALUE

At 31 March 2025

368,295

At 31 March 2024

442,697

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

97,268

118,151

Other debtors

4,921

3,756

102,189

121,907

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

73,813

96,891

Trade creditors

64,355

123,012

Taxation and social security

49,252

39,210

Other creditors

56,992

39,250

244,412

298,363

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

12,500

22,500

Hire purchase contracts

64,234

166,862

Other creditors

209,400

209,400

286,134

398,762

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

138,047

263,753

10.	ULTIMATE CONTROLLING PARTY

The company is under control of its director, Mr S O'Leary, who owns 100% of the voting capital of the company.