M & S Tyres Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 4189412

M & S Tyres Services Limited

Filleted Unaudited Financial Statements

31 March 2025

M & S Tyres Services Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		360,767	331,329

Current assets

Stocks		282,465	242,425
Debtors	6	544,158	700,855
Cash at bank and in hand		7,603	23,958
		---------	---------
		834,226	967,238

Creditors: amounts falling due within one year	7	692,074		773,930
		---------		---------
Net current assets			142,152	193,308
			---------	---------
Total assets less current liabilities			502,919	524,637

Creditors: amounts falling due after more than one year	8	833	11,667
		---------	---------
Net assets		502,086	512,970
		---------	---------

Capital and reserves

Called up share capital	9	2	2
Profit and loss account		502,084	512,968
		---------	---------
Shareholders funds		502,086	512,970
		---------	---------

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 statement of income and retained earnings 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

M & S Tyres Services Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Mr W W Moxon
Director

Company registration number: 4189412

M & S Tyres Services Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pontefract Road, Stourton, Leeds, LS10 1SW.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Full provision is made for deferred tax assets and liabilities arising from timing differences between recognition of gains and losses in the accounts and their recognition in a tax computation. Assets and liabilities are calculated at the tax rates which are expected to apply in the periods when the timing differences will reverse, and discounted to reflect the time value of money using rates based on post-tax yields to maturity that could be obtained at the balance sheet date on government bonds with similar maturity dates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Leasehold property	-	2% straight line
Plant and machinery	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2024: 14 ).

5. Tangible assets

	Freehold property	Long leasehold property	Plant and machinery	Total
	£	£	£	£
Cost
At 1 April 2024	170,000	272,619	273,555	716,174
Additions	–	–	71,750	71,750
Disposals	–	–	( 30,467)	( 30,467)
	---------	---------	---------	---------
At 31 March 2025	170,000	272,619	314,838	757,457
	---------	---------	---------	---------
Depreciation
At 1 April 2024	–	170,394	214,451	384,845
Charge for the year	–	6,815	31,786	38,601
Disposals	–	–	( 26,756)	( 26,756)
	---------	---------	---------	---------
At 31 March 2025	–	177,209	219,481	396,690
	---------	---------	---------	---------
Carrying amount
At 31 March 2025	170,000	95,410	95,357	360,767
	---------	---------	---------	---------
At 31 March 2024	170,000	102,225	59,104	331,329
	---------	---------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	489,276	642,294
Other debtors	54,882	58,561
	---------	---------
	544,158	700,855
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	666,176	736,804
Corporation tax	–	8,828
Social security and other taxes	6,337	8,424
Other creditors	9,561	9,874
	---------	---------
	692,074	773,930
	---------	---------

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

	2025	2024
	£	£
Bank loans and overdrafts	833	11,667
	----	--------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

10. Director's advances, credits and guarantees

As at 31 March 2025 the company owed Mr W Moxon £50 (2024 £50).