Setco Solid Tire Ltd. 09766074 false 2025-01-01 2025-12-31 2025-12-31 The principal activity of the company is the distribution of SETCO tire and rubber products. Digita Accounts Production Advanced 6.30.9574.0 true true 09766074 2025-01-01 2025-12-31 09766074 2025-12-31 09766074 core:CurrentFinancialInstruments 2025-12-31 09766074 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 09766074 core:PlantMachinery 2025-12-31 09766074 bus:SmallEntities 2025-01-01 2025-12-31 09766074 bus:Audited 2025-01-01 2025-12-31 09766074 bus:FilletedAccounts 2025-01-01 2025-12-31 09766074 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 09766074 bus:RegisteredOffice 2025-01-01 2025-12-31 09766074 bus:Director1 2025-01-01 2025-12-31 09766074 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 09766074 core:PlantMachinery 2025-01-01 2025-12-31 09766074 core:ParentEntities 2025-01-01 2025-12-31 09766074 1 2025-01-01 2025-12-31 09766074 countries:EnglandWales 2025-01-01 2025-12-31 09766074 2024-12-31 09766074 core:PlantMachinery 2024-12-31 09766074 2024-01-01 2024-12-31 09766074 2024-12-31 09766074 core:CurrentFinancialInstruments 2024-12-31 09766074 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 09766074 core:PlantMachinery 2024-12-31 iso4217:GBP xbrli:pure

Registration number: 09766074

Setco Solid Tire Ltd.
Filleted Financial Statements
for the Year Ended 31 December 2025

Setco Solid Tire Ltd.

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 6

Setco Solid Tire Ltd.

(Registration number: 09766074)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 10,663 | 14,217
Current assets |  |  |
Stocks | 5 | 164,100 | 131,880
Debtors | 6 | 104,115 | 248,142
Cash at bank and in hand |  | 313,978 | 233,007
|  | 582,193 | 613,029
Creditors: Amounts falling due within one year | 7 | (348,972) | (452,225)
Net current assets |  | 233,221 | 160,804
Total assets less current liabilities |  | 243,884 | 175,021
Provisions for liabilities |  | (3,601) | (3,601)
Net assets |  | 240,283 | 171,420
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Retained earnings |  | 240,282 | 171,419
Shareholders' funds |  | 240,283 | 171,420

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 April 2026 and signed on its behalf by:

......................................... B J H Bauermeister Director

Setco Solid Tire Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 13, Duddeston Mill Trading Estate
Duddeston Mill Road
Saltley
Birmingham
B8 1AP

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) which is the functional currency of the company.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 10 April 2026 was Caroline Webster FCA, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Turnover is recognised on despatch of goods and on rendering of services.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Setco Solid Tire Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant & machinery | 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

Setco Solid Tire Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2025

4 | Tangible assets

| Plant and machinery £ | Total £
Cost or valuation
At 1 January 2025 | 111,294 | 111,294
At 31 December 2025 | 111,294 | 111,294
Depreciation
At 1 January 2025 | 97,077 | 97,077
Charge for the year | 3,554 | 3,554
At 31 December 2025 | 100,631 | 100,631
Carrying amount
At 31 December 2025 | 10,663 | 10,663
At 31 December 2024 | 14,217 | 14,217

Setco Solid Tire Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2025

5 | Stocks

| 2025 £ | 2024 £
Stock | 164,100 | 131,880

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 88,606 | 232,633
Prepayments | 7,964 | 7,964
Other debtors | 7,545 | 7,545
| 104,115 | 248,142

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 896 | 19
Amounts owed to related parties | 9 | 300,022 | 403,138
Taxation and social security |  | 37,627 | 41,818
Other creditors |  | 10,427 | 7,250
|  | 348,972 | 452,225

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £18,958 (2024 - £41,708). Financial commitment relates to non-cancellable operating lease commitment of property.

9 | Related party transactions

Summary of transactions with parent

During the year the company made purchases from SETCO Inc (parent) amounting to £572,876 (2024: £426,768). At the balance sheet date the amount due to SETCO Inc was £300,022 (2024: £403,138).

Setco Solid Tire Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2025

10 | Parent and ultimate parent undertaking

The company's immediate parent is SETCO Inc, incorporated in the United States of America.