Company registration number 00977770 (England and Wales)
UNITED KINGDOM TYRE EXPORTERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
UNITED KINGDOM TYRE EXPORTERS LIMITED
CONTENTS
Page
Balance sheet
6 - 7
Statement of changes in equity
1
Notes to the financial statements
2 - 10
UNITED KINGDOM TYRE EXPORTERS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 May 2023
5,000
-
0
5,230,704
5,235,704
Year ended 30 April 2024:
Loss and total comprehensive income
-
-
(92,226)
(92,226)
Balance at 30 April 2024
5,000
-
0
5,138,478
5,143,478
Year ended 30 April 2025:
Profit and total comprehensive income
-
-
24,174
24,174
Own shares acquired
-
-
(1,000,000)
(1,000,000)
Redemption of shares
(1,666)
1,666
-
0
-
0
Balance at 30 April 2025
3,334
1,666
4,162,652
4,167,652
UNITED KINGDOM TYRE EXPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
Company information

United Kingdom Tyre Exporters Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Lake End Court, Taplow Road, Taplow, Maidenhead, Berkshire, SL6 0JQ. The principal place of business is 131 Scrubs Lane, Willesden, London, NW10 6QU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue from the following major sources:

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buye r.

Revenue from the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of three years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

UNITED KINGDOM TYRE EXPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over 10 years
Plant and equipment
10% straight line
Fixtures and fittings
10% straight line
Computers
25% straight line
Motor vehicles
20% straight line, with a 5% residual value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

UNITED KINGDOM TYRE EXPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

UNITED KINGDOM TYRE EXPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

UNITED KINGDOM TYRE EXPORTERS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 6 -
2024
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
279,992
247,634
Current assets
Stocks
338,777
264,260
Debtors
6
565,783
4,937,767
Cash at bank and in hand
3,555,881
834,523
4,460,441
6,036,550
Creditors: amounts falling due within one year
7
(505,938)
(1,087,055)
Net current assets
3,954,503
4,949,495
Total assets less current liabilities
4,234,495
5,197,129
Creditors: amounts falling due after more than one year
8
(66,843)
(53,651)
Net assets
4,167,652
5,143,478
Capital and reserves
Called up share capital
3,334
5,000
Capital redemption reserve
1,666
-
0
Profit and loss reserves
4,162,652
5,138,478
Total equity
4,167,652
5,143,478

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

UNITED KINGDOM TYRE EXPORTERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 7 -
The financial statements were approved by the board of directors and authorised for issue on
6 January 2026
06 January 2026
06 January 2026
and are signed on its behalf by:
Mr D J Hannington
Mr R Hannington
Director
Director
Company Registration No. 00977770
UNITED KINGDOM TYRE EXPORTERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2025
30 April 2025
- 8 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2024
Number
Number
Total
23
24
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
20,000
Amortisation and impairment
At 1 May 2024 and 30 April 2025
20,000
Carrying amount
At 30 April 2025
-
0
At 30 April 2024
-
0
UNITED KINGDOM TYRE EXPORTERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2025
30 April 2025
- 9 -
5
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 May 2024
32,738
157,612
104,212
7,178
377,902
679,642
Additions
-
0
-
0
-
0
-
0
124,950
124,950
Disposals
-
0
-
0
-
0
-
0
(28,470)
(28,470)
At 30 April 2025
32,738
157,612
104,212
7,178
474,382
776,122
Depreciation and impairment
At 1 May 2024
14,344
111,995
77,828
4,454
223,387
432,008
Depreciation charged in the year
3,274
9,249
8,890
764
67,236
89,413
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(25,291)
(25,291)
At 30 April 2025
17,618
121,244
86,718
5,218
265,332
496,130
Carrying amount
At 30 April 2025
15,120
36,368
17,494
1,960
209,050
279,992
At 30 April 2024
18,394
45,617
26,384
2,724
154,515
247,634
6
Debtors
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
545,106
640,504
Other debtors
20,677
4,297,263
565,783
4,937,767
7
Creditors: amounts falling due within one year
2024
2024
£
£
Bank loans
10,000
10,000
Trade creditors
364,635
444,977
Taxation and social security
58,673
43,796
Other creditors
72,630
588,282
505,938
1,087,055
UNITED KINGDOM TYRE EXPORTERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2025
30 April 2025
- 10 -
8
Creditors: amounts falling due after more than one year
2024
2024
£
£
Bank loans and overdrafts
2,182
11,997
Other creditors
64,661
41,654
66,843
53,651

Included within credits within and over 1 year are hire purchase liabilities totalling £97,077. These liabilities are secured on the assets in relation to there purchase, which are reflected within tangible fixed assets.

9
Related party transactions

At the end of this year the company owed £nil (2024 - £540,231) to a company related to the shareholders.

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