Barry Shaddick Tyres Limited - Period Ending 2025-03-31

Registration number: 03338729

Barry Shaddick Tyres Limited

Annual Report and Financial Statements

for the Year Ended 31 March 2025

Barry Shaddick Tyres Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 8
Profit and Loss Account and Statement of Retained Earnings	9
Balance Sheet	10
Statement of Cash Flows	11
Notes to the Financial Statements	12 to 23

Barry Shaddick Tyres Limited

Company Information

Directors

Mr Barry Shaddick

Mr Reece Shaddick

Miss Shivonne Shaddick

Mr Shane Shaddick

Company secretary

Miss Shivonne Shaddick

Registered office

St. Andrews Road
Avonmouth
Bristol
BS11 9HQ

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

Auditors

Richardson Swift Audit Limited
11 Laura Place
Bath
BA2 4BL

Barry Shaddick Tyres Limited

Strategic Report for the Year Ended 31 March 2025

The directors present their strategic report for the year ended 31 March 2025.

Principal activity

The principal activity of the company is the supply of commercial tyres and tyre related services.

Fair review of the business

The year to 31 March 2025 saw a 6% increase on turnover compared to the previous year.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs	Unit	2025	2024
Turnover	£'000	12,087	11,382
Gross profit	£'000	3,375	3,071
Net profit before taxation	£'000	269	270

Principal risks and uncertainties

The company faces a number of risks from operating in a competitive market. The directors manage these risks through providing service and value to customers, and actively managing stock levels and cash flow.

The company factors its debts, and this arrangement continues to provide the company with sufficient liquidity. The company has loans with charges on its property and these are being repaid on schedule.

The directors consider that the management procedures in place will enable the company to adapt to any longer-term changes in circumstances whilst remaining profitable.

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:

.........................................
Mr Barry Shaddick
Director

.........................................
Miss Shivonne Shaddick
Company secretary and director

Barry Shaddick Tyres Limited

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors of the company

The directors who held office during the year were as follows:

Mr Barry Shaddick

Mr Reece Shaddick (appointed 22 April 2024)

Miss Shivonne Shaddick - Company secretary and director

Mr Shane Shaddick

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Dividends

The total distribution of dividends for the year ended 31 March 2025 was £30,000 (2024: £30,000).

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:

.........................................
Mr Barry Shaddick
Director

.........................................
Miss Shivonne Shaddick
Company secretary and director

Barry Shaddick Tyres Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Barry Shaddick Tyres Limited

Independent Auditor's Report to the Members of Barry Shaddick Tyres Limited

Opinion

We have audited the financial statements of Barry Shaddick Tyres Limited (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The directors are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Barry Shaddick Tyres Limited

Independent Auditor's Report to the Members of Barry Shaddick Tyres Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit. We have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•
• the financial statements are not in agreement with the accounting records and returns; or
•
• certain disclosures of directors' remuneration specified by law are not made; or
•
• we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Barry Shaddick Tyres Limited

Independent Auditor's Report to the Members of Barry Shaddick Tyres Limited

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which are procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity by discussion with key personnel and consideration of our experience of this and similar sectors.

We determined that the most significant laws and regulations which have a direct impact on the form and content of the financial statements of the entity are the Companies Act and UK GAAP, specifically FRS102.

We determined that the most significant operational laws and regulations for the entity are health and safety and employment law, plus the specific legal requirements regarding vehicle tyres and MOTs.

Based on the results or our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above, with no issues arising.

We gained an understating of the entity’s policy and procedures by discussion with key personnel and substantive audit work.

We assessed the risk of material misstatement in respect of fraud through our planning processes, and no significant risks were identified.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Barry Shaddick Tyres Limited

Independent Auditor's Report to the Members of Barry Shaddick Tyres Limited

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Catherine Edwards BSc ACA (Senior Statutory Auditor)
For and on behalf of Richardson Swift Audit Limited, Statutory Auditor

11 Laura Place
Bath
BA2 4BL

16 December 2025

Barry Shaddick Tyres Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Turnover	3	12,087,450	11,381,987
Cost of sales		(8,711,997)	(8,311,388)
Gross profit		3,375,453	3,070,599
Administrative expenses		(3,021,194)	(2,727,569)
Other operating income		1,730	8,610
Operating profit	5	355,989	351,640
Interest payable and similar charges	6	(87,041)	(81,778)
		(87,041)	(81,778)
Profit before tax		268,948	269,862
Taxation	10	(68,717)	(87,362)
Profit for the financial year		200,231	182,500
Retained earnings brought forward		1,157,467	1,004,967
Dividends paid		(30,000)	(30,000)
Retained earnings carried forward		1,327,698	1,157,467

There was no other comprehensive income for 2025 (2024: £Nil).

Barry Shaddick Tyres Limited

(Registration number: 03338729)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	11	1,319,108	1,311,556
Current assets
Stocks	12	1,008,671	1,041,703
Debtors	13	2,400,355	2,257,453
Cash at bank and in hand		23,481	171,407
		3,432,507	3,470,563
Creditors: Amounts falling due within one year	15	(3,256,100)	(3,346,946)
Net current assets		176,407	123,617
Total assets less current liabilities		1,495,515	1,435,173
Creditors: Amounts falling due after more than one year	15	(103,641)	(215,418)
Provisions for liabilities	16	(64,175)	(62,287)
Net assets		1,327,699	1,157,468
Capital and reserves
Called up share capital		1	1
Retained earnings		1,327,698	1,157,467
Shareholders' funds		1,327,699	1,157,468

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:

.........................................
Mr Barry Shaddick
Director

Barry Shaddick Tyres Limited

Statement of Cash Flows for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Cash flows from operating activities
Profit for the year		200,231	182,500
Adjustments to cash flows from non-cash items
Depreciation and amortisation	5	71,368	69,016
Profit on disposal of tangible assets	4	(6,425)	(5,621)
Finance costs	6	87,041	81,778
Income tax expense	10	68,717	87,362
		420,932	415,035
Working capital adjustments
Decrease in stocks	12	33,032	46,217
Increase in trade debtors	13	(142,902)	(249,490)
(Decrease)/increase in trade creditors	15	(62,250)	180,448
Cash generated from operations		248,812	392,210
Income taxes paid	10	(72,401)	(49,231)
Net cash flow from operating activities		176,411	342,979
Cash flows from investing activities
Acquisitions of tangible assets		(101,694)	(76,345)
Proceeds from sale of tangible assets		29,200	12,885
Net cash flows from investing activities		(72,494)	(63,460)
Cash flows from financing activities
Interest paid	6	(87,041)	(81,778)
Proceeds from bank borrowing draw downs		(138,832)	(46,609)
Repayment of other borrowing		(1)	1
Payments to finance lease creditors		4,031	22,747
Dividends paid	21	(30,000)	(30,000)
Net cash flows from financing activities		(251,843)	(135,639)
Net (decrease)/increase in cash and cash equivalents		(147,926)	143,880
Cash and cash equivalents at 1 April		171,407	27,527
Cash and cash equivalents at 31 March		23,481	171,407

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St. Andrews Road
Avonmouth
Bristol
BS11 9HQ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

No significant judgements or estimates have had to be made by the directors in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when goods are supplied and fitted.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Short lease	Fully depreciated
Plant and machinery	25% reducing balance
Furniture and fittings	25% reducing balance
Motor vehicles	25% reducing balance
Freehold Property	50 years straight line to residual value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3

Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

	2025 £	2024 £
Sale of goods	12,087,450	11,381,987

All the turnover arises from the main business activity and it all originated in the UK.

4	Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

	2025 £	2024 £
Gain on disposal of Tangible assets	6,425	5,621

5	Operating profit

Arrived at after charging/(crediting)

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

	2025 £	2024 £
Depreciation expense	71,368	69,016
Profit on disposal of property, plant and equipment	(6,425)	(5,621)

6	Interest payable and similar expenses

	2025 £	2024 £
Interest on bank overdrafts and borrowings	85,743	80,351
Interest on obligations under finance leases and hire purchase contracts	1,298	1,427
	87,041	81,778

7	Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	2025 £	2024 £
Wages and salaries	2,073,618	1,814,091
Social security costs	197,796	169,748
Pension costs, defined contribution scheme	36,019	30,748
	2,307,433	2,014,587

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

	2025 No.	2024 No.
Administration and support	7	5
Sales	3	3
Other departments	55	50
	65	58

8	Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	142,102	98,962
Contributions paid to money purchase schemes	4,238	3,415
	146,340	102,377

During the year the number of directors who were receiving benefits and share incentives was as follows:

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

	2025 No.	2024 No.
Accruing benefits under money purchase pension scheme	4	3

9	Auditors' remuneration

	2025 £	2024 £
Audit of the financial statements	5,500	5,000

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

10

Taxation

Tax charged/(credited) in the profit and loss account

	2025 £	2024 £
Current taxation
UK corporation tax	66,830	72,402
UK corporation tax adjustment to prior periods	(1)	(1)
	66,829	72,401
Deferred taxation
Arising from origination and reversal of timing differences	1,888	14,961
Tax expense in the income statement	68,717	87,362

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).

The differences are reconciled below:

	2025 £	2024 £
Profit before tax	268,948	269,862
Corporation tax at standard rate	67,237	67,466
Tax (decrease)/increase from effect of capital allowances and depreciation	(1,888)	2,795
Effect of expense not deductible in determining taxable profit (tax loss)	1,480	4,951
Deferred tax charge	1,888	-
Deferred tax expense relating to changes in tax rates or laws	-	12,150
Total tax charge	68,717	87,362

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

12

Stocks

	2025 £	2024 £
Other inventories	1,008,671	1,041,703

13

Debtors

Current	2025 £	2024 £
Trade debtors	2,341,774	2,230,792
Other debtors	3,989	4,145
Prepayments	54,592	22,516
	2,400,355	2,257,453

14	Cash and cash equivalents

	2025 £	2024 £
Cash on hand	5,603	1,937
Cash at bank	17,878	169,470
	23,481	171,407

15

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	19	38,454	61,478
Trade creditors		1,779,046	2,002,666
Amounts due to related parties		95,567	67
Social security and other taxes		186,513	154,868
Outstanding defined contribution pension costs		8,461	7,272
Other payables		1,071,792	995,506
Accruals		9,437	52,687
Income tax liability	10	66,830	72,402
		3,256,100	3,346,946
Due after one year
Loans and borrowings	19	103,641	215,418

Included within “Other payables” of £1,071,792 (2024: £995,506) is borrowing of £1,070,401 (2024: £949,552) which is secured by a fixed and floating charge over the company’s assets.

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

16	Provisions for liabilities

	Deferred tax £	Total £
At 1 April 2024	62,287	62,287
Additional provisions	1,888	1,888
At 31 March 2025	64,175	64,175

17	Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £36,019 (2024 - £30,748).

18	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary A of £1 each	1	1	1	1

19	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £

Bank borrowings	89,522	202,490
Hire purchase contracts	14,119	12,928
	103,641	215,418

Current loans and borrowings

	2025 £	2024 £

Bank borrowings	25,795	51,659
Hire purchase contracts	12,659	9,819
	38,454	61,478

Bank borrowings

Barry Shaddick Tyres Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

A bounce back loan (balance of £0 at 31 March 2025) was taken out in 2021. The loan is secured 100% by the Government.

A bank loan (balance of £115,317 at 31 March 2025) is secured on the property assets that have a carrying value of £1,052,202.

Other borrowings

Hire purchase creditors are secured against the assets to which they relate.

20	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	67,870	42,108
Later than one year and not later than five years	128,550	78,000
	196,420	120,108

The amount of non-cancellable operating lease payments recognised as an expense during the year was £66,852 (2024 - £42,850).

21

Dividends

Interim dividends paid

	2025 £	2024 £
Interim dividend of £30,000.00 per each Ordinary A	30,000	30,000

	Land and buildings £	Short leasehold land and buildings £	Improvements to property £	Fixtures and fittings £	Plant and machinery £	Motor vehicles £	Total £
Cost or valuation
At 1 April 2024	1,052,202	1	13,350	46,089	49,629	535,358	1,696,629
Additions	-	-	-	-	14,200	87,494	101,694
Disposals	-	-	-	-	-	(68,647)	(68,647)
At 31 March 2025	1,052,202	1	13,350	46,089	63,829	554,205	1,729,676
Depreciation
At 1 April 2024	-	1	-	40,767	44,439	299,866	385,073
Charge for the year	-	-	-	1,330	1,593	68,444	71,367
Eliminated on disposal	-	-	-	-	-	(45,872)	(45,872)
At 31 March 2025	-	1	-	42,097	46,032	322,438	410,568
Carrying amount
At 31 March 2025	1,052,202	-	13,350	3,992	17,797	231,767	1,319,108
At 31 March 2024	1,052,202	-	13,350	5,322	5,190	235,492	1,311,556