REGISTERED NUMBER: 02362984 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Geoffrey Harris Tyres Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

M B Harris

Mrs J M Harris

REGISTERED OFFICE:

Station Road

Liskeard

Cornwall

PL14 4DA

REGISTERED NUMBER:

02362984 (England and Wales)

ACCOUNTANTS:

Haines Watts

9 Western Road

Launceston

Cornwall

PL15 7AR

FIXED ASSETS

Tangible assets

4

374,189

324,019

Investments

5

60

60

Investment property

6

410,000

410,000

784,249

734,079

CURRENT ASSETS

Stocks

541,467

459,954

Debtors

7

317,862

296,079

Cash at bank and in hand

248,559

181,399

1,107,888

937,432

CREDITORS

Amounts falling due within one year

8

512,675

410,289

NET CURRENT ASSETS

595,213

527,143

TOTAL ASSETS LESS CURRENT LIABILITIES

1,379,462

1,261,222

PROVISIONS FOR LIABILITIES

125,329

116,895

NET ASSETS

1,254,133

1,144,327

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

278,875

278,875

Retained earnings

975,158

865,352

1,254,133

1,144,327

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 17 December 2025 and were signed on its behalf by:

Mrs J M Harris - Director

M B Harris - Director

1.	STATUTORY INFORMATION

Geoffrey Harris 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

20% on reducing balance and 10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The movement in the profit and loss reserve is then moved to the non distributable fair value reserve, to the extent that the balance is positive. Deferred taxation is provided on gains at the rate expected to apply whenthe property is sold. When costs exceed market value, a corresponding deferred tax asset is offset againdeferred tax due on other timing differences.

Stocks

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

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

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 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 16 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

209,772

169,686

12,196

156,347

548,001

Additions

-

19,690

-

100,123

119,813

Disposals

-

(5,915

)

(257

)

(54,873

)

(61,045

)

At 31 March 2025

209,772

183,461

11,939

201,597

606,769

DEPRECIATION

At 1 April 2024

54,628

78,829

9,754

80,771

223,982

Charge for year

4,196

10,841

244

31,077

46,358

Eliminated on disposal

-

(2,947

)

(257

)

(34,556

)

(37,760

)

At 31 March 2025

58,824

86,723

9,741

77,292

232,580

NET BOOK VALUE

At 31 March 2025

150,948

96,738

2,198

124,305

374,189

At 31 March 2024

155,144

90,857

2,442

75,576

324,019

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

60

NET BOOK VALUE

At 31 March 2025

60

At 31 March 2024

60

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

410,000

NET BOOK VALUE

At 31 March 2025

410,000

At 31 March 2024

410,000

The investment property was valued by Thomas Blake, MRICS on 27th April 2022, on behalf of Jefferys, using RICS valuation - Global Standards, incorporating the International Valuation Standards. The investment property was valued at a total of £410,000.

The directors do not believe there has been sufficient change in the market to undertake another valuation, and so investment property is valued as per last year.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

304,026

Cost

105,974

410,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

295,078

247,708

Other debtors

22,784

48,371

317,862

296,079

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

434,195

306,186

Taxation and social security

73,001

98,971

Other creditors

5,479

5,132

512,675

410,289

9.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

278,875

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

M B Harris and Mrs J M Harris

Balance outstanding at start of year

(799

)

(2,464

)

Amounts advanced

98,653

68,180

Amounts repaid

(93,798

)

(66,515

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,056

(799

)

The balance of the directors' loan is repayable on demand to the directors. Interest is paid at the Bank of England Base Rate plus 4% pa on the balance to the directors.

11.	RELATED PARTY DISCLOSURES

Rent of £2,400 was paid to G & Mrs K Harris, 50% joint shareholders (£3,000 in 2024)

12.	ULTIMATE CONTROLLING PARTY

The controlling party is M and Mrs J Harris.

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Geoffrey Harris Tyres Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Geoffrey Harris Tyres Limited, 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 Geoffrey Harris Tyres Limited and state those matters that we have agreed to state to the Board of Directors of Geoffrey Harris Tyres Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Geoffrey Harris Tyres Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Geoffrey Harris Tyres Limited 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 Geoffrey Harris Tyres Limited. You consider that Geoffrey Harris Tyres Limited 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 Geoffrey Harris Tyres Limited. 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.

Haines Watts

9 Western Road

Launceston

Cornwall

PL15 7AR

17 December 2025