Fuller Tyres Limited - Filleted accounts

Registered number

06839153

Fuller Tyres Limited

Filleted Accounts

31 March 2025

Fuller Tyres Limited
Registered number:		06839153
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		506,114			255,991

Current assets
Stocks		128,771			135,257
Debtors	4	641,131			744,607
Cash at bank and in hand		223,624			202,908
		993,526			1,082,772

Creditors: amounts falling due within one year	5	(792,272)			(875,554)

Net current assets			201,254			207,218

Total assets less current liabilities			707,368			463,209

Creditors: amounts falling due after more than one year	6		(280,344)			(100,462)

Provisions for liabilities			(67,390)			(61,435)


Net assets			359,634			301,312

Capital and reserves
Called up share capital			100			100
Profit and loss account			359,534			301,212

Shareholders' funds			359,634			301,312

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




C Fuller
Director
Approved by the board on 28 December 2025

Fuller Tyres Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Summary of significant accounting policies

	Basis of preparation
	The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small company regime). The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated..

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Office equipment			20 % straight line
	Plant and machinery			15 % straight line
	Motor vehicles			15 % straight line

	Change in depreciation method
	During the year to 31 March 2025 the company changed the method of depreciating its plant and machinery from 20 % on a straight line basis to 15 % on a straight line basis and its motor vehicles from 20 % on a straight line basis to 15 % on a straight line basis, as this revised method better reflects the entity's consumption of the plant and machinery and motor vehicles over the useful lives and is consistent with the entity's replacement cycle. The change in depreciation method is a change in accounting estimate and is accounted for prospectively from the date of the change on 1 April 2024. The effect of this change has been to increase the fixed assets by £22,227 and decrease expenditure by £22,227.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Employee benefits
	When employees have rendered service to the company, short term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					17		17


3	Tangible fixed assets
		Office equipment		Plant and machinery		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	12,596		202,500		465,128		680,224
	Additions	291		175,210		160,609		336,110
	Disposals	-		-		(20,466)		(20,466)
	At 31 March 2025	12,887		377,710		605,271		995,868

	Depreciation
	At 1 April 2024	8,832		149,807		265,594		424,233
	Charge for the year	1,029		17,467		54,769		73,265
	On disposals	-		-		(7,744)		(7,744)
	At 31 March 2025	9,861		167,274		312,619		489,754

	Net book value
	At 31 March 2025	3,026		210,436		292,652		506,114
	At 31 March 2024	3,764		52,693		199,534		255,991
	The obligations under the finance lease and hire purchase contracts are secured on the assets concerned with a carrying amount £402,118 (2024 - £136,983).


4	Debtors					2025		2024
£							£

	Trade debtors					641,131		739,000
	Other debtors					-		5,607
						641,131		744,607


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					10,000		10,000
	Obligations under finance lease and hire purchase contracts					121,339		52,916
	Trade creditors					609,519		750,518
	Taxation and social security costs					35,756		39,199
	Other creditors					15,658		22,921
						792,272		875,554


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					2,500		12,500
	Obligations under finance lease and hire purchase contracts					255,623		61,616
	Other creditors					22,221		26,346
						280,344		100,462


7	Loans					2025		2024
£							£
	Creditors include:

	Secured obligations under finance lease and hire purchase contracts					376,962		114,532




8	Share Capital	Nominal		2024		2025		2024
value			Number		£		£



	Ordinary shares	£1 each		100		100		100
						100		100


9	Other financial commitments					2025		2024
£							£

	Total future minimum payments under non-cancellable operating leases					41,800		70,158


10	Related party transactions

	A director has lent the company various amounts during the year, interest free.The amount due is included in other creditors. The amount due to the director at the financial year end was £31,312 (2024 - £35,437). A director has lent the company various amounts during the year, interest free.The amount due is included in other creditors. The amount due to the director at the financial year end was £258 (2024 - £581).


11	Other information

	Fuller Tyres Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 5, Havering Farm
	Guildford Road
	Guildford
	Surrey
	GU4 7QA