Tred-Rite Tyres Ltd. Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC287103

TRED-RITE TYRES LTD.

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

TRED-RITE TYRES LTD.

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents	Page

Officers and professional advisers	1

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

TRED-RITE TYRES LTD.

OFFICERS AND PROFESSIONAL ADVISERS

Director	Mrs B West

Company secretary	Mr D Anderson

Registered office	76 High Street
	Buckie
	Scotland
	AB56 1BB

Accountants	Ritsons
	Chartered Accountants
	26-30 Marine Place
	Buckie
	Moray
	AB56 1UT

TRED-RITE TYRES LTD.

CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TRED-RITE TYRES LTD.

YEAR ENDED 31 MARCH 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tred-Rite Tyres Ltd. for the year ended 31 March 2025, which comprise the statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Tred-Rite Tyres Ltd.. Our work has been undertaken solely to prepare for your approval the financial statements of Tred-Rite Tyres Ltd. and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tred-Rite Tyres Ltd. and its director for our work or for this report.

It is your duty to ensure that Tred-Rite Tyres Ltd. 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 loss of Tred-Rite Tyres Ltd.. You consider that Tred-Rite Tyres Ltd. 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 Tred-Rite Tyres Ltd.. 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.

Ritsons Chartered Accountants

26-30 Marine Place Buckie Moray AB56 1UT

23 December 2025

TRED-RITE TYRES LTD.

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

FIXED ASSETS

Tangible assets	5	13,036	26,061

CURRENT ASSETS

Stocks		–	36,563
Debtors	6	71,748	218,663
Cash at bank and in hand		693,520	736,163
		---------	---------
		765,268	991,389

CREDITORS: amounts falling due within one year	7	2,152	75,536
		---------	---------
NET CURRENT ASSETS		763,116	915,853
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		776,152	941,914

CREDITORS: amounts falling due after more than one year	8	7,429	–
		---------	---------
NET ASSETS		768,723	941,914
		---------	---------

CAPITAL AND RESERVES

Called up share capital	1,000	1,000
Profit and loss account	767,723	940,914
	---------	---------
SHAREHOLDERS FUNDS	768,723	941,914
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 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 year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

TRED-RITE TYRES LTD.

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mrs B West
Director

Company registration number: SC287103

TRED-RITE TYRES LTD.

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 76 High Street, Buckie, AB56 1BB, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

The turnover shown in the detailed income statement represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost.

Depreciation

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

Plant & Machinery	-	15% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment	-	15% reducing balance

Stocks

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the income statement when due.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 7 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	58,809	10,437	25,960	1,066	96,272
Additions	–	–	18,000	–	18,000
Disposals	( 32,801)	( 10,437)	( 43,960)	( 1,066)	( 88,264)
	--------	--------	--------	-------	--------
At 31 March 2025	26,008	–	–	–	26,008
	--------	--------	--------	-------	--------
Depreciation
At 1 April 2024	37,954	9,753	22,029	475	70,211
Charge for the year	2,300	–	–	–	2,300
Disposals	( 27,282)	( 9,753)	( 22,029)	( 475)	( 59,539)
	--------	--------	--------	-------	--------
At 31 March 2025	12,972	–	–	–	12,972
	--------	--------	--------	-------	--------
Carrying amount
At 31 March 2025	13,036	–	–	–	13,036
	--------	--------	--------	-------	--------
At 31 March 2024	20,855	684	3,931	591	26,061
	--------	--------	--------	-------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	2,404	32,228
Other debtors	69,344	186,435
	--------	---------
	71,748	218,663
	--------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	752	46,006
Corporation tax	–	6,369
Social security and other taxes	–	21,761
Other creditors	1,400	1,400
	-------	--------
	2,152	75,536
	-------	--------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	7,429	–
	-------	----

9. Director's advances, credits and guarantees

At 31 March 2024, the director owed the company £140,415 by way of a director's loan account.

10. Related party transactions

At 31st March 2025 the company owed the directors £7,428 by way of a directors loan account During the year the company paid dividends of £30,000 (2024: £33,000) to the directors.