Advance Tyre Specialists Limited

Registered number

07635581

Filleted Accounts

31 May 2025

Advance Tyre Specialists Limited
Registered number:		07635581
Balance Sheet
as at 31 May 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		86,732			103,097

Current assets
Stocks		90,833			85,164
Debtors	5	69,946			91,240
Cash at bank and in hand		213,925			175,388
		374,704			351,792

Creditors: amounts falling due within one year	6	(212,507)			(216,165)

Net current assets			162,197			135,627

Total assets less current liabilities			248,929			238,724

Creditors: amounts falling due after more than one year	7		-			(36,779)

Provisions for liabilities			(16,479)			(19,588)


Net assets			232,450			182,357

Capital and reserves
Called up share capital			100			100
Profit and loss account			232,350			182,257

Shareholder's funds			232,450			182,357

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.




D. Edgcombe
Director
Approved by the board on 14 January 2026

Advance Tyre Specialists Limited
Notes to the Accounts
for the year ended 31 May 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			20% reducing balance
	Motor vehicles			25% reducing balance

	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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 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.

	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					5		6


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 June 2024							57,500
	At 31 May 2025							57,500

	Amortisation
	At 1 June 2024							57,500
	At 31 May 2025							57,500

	Net book value
	At 31 May 2025							-


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 June 2024	3,885		160,077		121,940		285,902
	Additions	-		-		8,500		8,500
	At 31 May 2025	3,885		160,077		130,440		294,402

	Depreciation
	At 1 June 2024	3,885		99,384		79,536		182,805
	Charge for the year	-		12,139		12,726		24,865
	At 31 May 2025	3,885		111,523		92,262		207,670

	Net book value
	At 31 May 2025	-		48,554		38,178		86,732
	At 31 May 2024	-		60,693		42,404		103,097


5	Debtors					2025		2024
£							£

	Trade debtors					60,883		82,226
	Prepayments and accrued income					-		7,664
	Other debtors					9,063		1,350
						69,946		91,240


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

	Bank loans and overdrafts					663		513
	Trade creditors					110,902		140,345
	Loans from directors					62,893		50,072
	Taxation and social security costs					34,731		23,183
	Accruals and deferred income					3,318		2,052
						212,507		216,165


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

	Bank loans					-		36,779


8	Other information

	Advance Tyre Specialists Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Moonrakers
	Treskinnick Cross
	Poundstock
	Bude
	EX23 0DT