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Company registration number: 11054518
G T Tyres (Cumbria) Limited
Unaudited filleted financial statements
For the year ended
30 November 2025
G T Tyres (Cumbria) Limited
Contents
Statement of financial position
Notes to the financial statements
G T Tyres (Cumbria) Limited
Statement of financial position
30 November 2025

|  |  | 2025 |  |  |  | 2024 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Tangible assets |  | 3 | 531,202 |  |  |  | 567,006 |  |
|  |  | ________ |  |  |  | ________ |  |
|  |  |  |  | 531,202 |  |  |  | 567,006
Current assets |  |  |  |  |  |  |  |  |
Stocks |  |  | 773,300 |  |  |  | 743,842 |  |
Debtors |  | 4 | 1,202,129 |  |  |  | 644,380 |  |
Investments |  | 5 | 5,000 |  |  |  | 5,000 |  |
Cash at bank and in hand |  |  | 386,152 |  |  |  | 302,112 |  |
|  |  | ________ |  |  |  | ________ |  |
|  |  | 2,366,581 |  |  |  | 1,695,334 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 6 | ( 2,124,306) |  |  |  | ( 1,581,666) |  |
|  |  | ________ |  |  |  | ________ |  |
Net current assets |  |  |  |  | 242,275 |  |  |  | 113,668
|  |  |  |  | ________ |  |  |  | ________
Total assets less current liabilities |  |  |  |  | 773,477 |  |  |  | 680,674
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
after more than one year |  | 7 |  |  | ( 387,546) |  |  |  | ( 384,818)
Provisions for liabilities |  |  |  |  | ( 99,458) |  |  |  | ( 98,023)
|  |  |  |  | ________ |  |  |  | ________
Net assets |  |  |  |  | 286,473 |  |  |  | 197,833
|  |  |  |  | ________ |  |  |  | ________
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 106 |  |  |  | 106
Profit and loss account |  |  |  |  | 286,367 |  |  |  | 197,727
|  |  |  |  | ________ |  |  |  | ________
Shareholders funds |  |  |  |  | 286,473 |  |  |  | 197,833
|  |  |  |  | ________ |  |  |  | ________

For the year ending 30 November 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 April 2026 , and are signed on behalf of the board by:
Mr G Thompson
Director
Company registration number: 11054518
G T Tyres (Cumbria) Limited
Notes to the financial statements
Year ended 30 November 2025
1. Accounting policies
General information
The company is a private company limited by shares, registered in England and Wales, registration number 11054518 . The address of the registered office is 3 Solway Trading Estate, Solway Trading Estate, Maryport, CA15 8NF.
Basis of preparation
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied with the same financial statements.
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.
Turnover
Turnover represents the total invoice value, excluding value added tax, of all work done in the period under contracts to supply goods and services to third parties. It includes the relevant proportion of contract values where work is partially performed in the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible fixed assets are included at cost less depreciation.
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:

| Short leasehold property | - | Straight line over the term of the lease |
| Plant and machinery | - | 20 % | straight line
| Fittings fixtures and equipment | - | 20-25 % | straight line
| Motor vehicles | - | 15-25 % | straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
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 stocks to their present location and condition.
Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 53 (2024: 45 ).
3. Tangible assets

|  | Short leasehold property | Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Total |  |
|  | £ | £ | £ | £ | £ |  |
| Cost |  |  |  |  |  |  |
| At 1 December 2024 | 240,000 | 227,655 | 77,534 | 592,689 | 1,137,878 |  |
| Additions | 9,806 | 60,933 | 2,593 | 150,791 | 224,123 |  |
| Disposals | - | - | - | ( 17,330) | ( 17,330) |  |
|  | ________ | ________ | ________ | ________ | ________ |  |
| At 30 November 2025 | 249,806 | 288,588 | 80,127 | 726,150 | 1,344,671 |  |
|  | ________ | ________ | ________ | ________ | ________ |  |
| Depreciation |  |  |  |  |  |  |
| At 1 December 2024 | 120,908 | 140,549 | 56,875 | 252,540 | 570,872 |  |
| Charge for the year | 42,883 | 46,577 | 7,982 | 162,485 | 259,927 |  |
| Disposals | - | - | - | ( 17,330) | ( 17,330) |  |
|  | ________ | ________ | ________ | ________ | ________ |  |
| At 30 November 2025 | 163,791 | 187,126 | 64,857 | 397,695 | 813,469 |  |
|  | ________ | ________ | ________ | ________ | ________ |  |
| Carrying amount |  |  |  |  |  |  |
| At 30 November 2025 | 86,015 | 101,462 | 15,270 | 328,455 | 531,202 |  |
|  | ________ | ________ | ________ | ________ | ________ |  |
| At 30 November 2024 | 119,092 | 87,106 | 20,659 | 340,149 | 567,006 |  |
|  | ________ | ________ | ________ | ________ | ________ |  |

4. Debtors

|  |  | 2025 | 2024
|  |  | £ | £
| Trade debtors |  | 701,538 | 548,439
| Other debtors |  | 500,591 | 95,941
|  |  | ________ | ________
|  |  | 1,202,129 | 644,380
|  |  | ________ | ________

5. Investments

|  |  | 2025 | 2024
|  |  | £ | £
| Other investments |  | 5,000 | 5,000
|  |  | ________ | ________

6. Creditors: amounts falling due within one year

|  |  | 2025 | 2024
|  |  | £ | £
| Bank loans and overdrafts |  | 19,483 | 28,306
| Trade creditors |  | 1,645,892 | 1,252,061
| Taxation and social security |  | 345,542 | 225,706
| Obligations under finance leases (secured) |  | 87,575 | 55,353
| Other creditors |  | 25,814 | 20,240
|  |  | ________ | ________
|  |  | 2,124,306 | 1,581,666
|  |  | ________ | ________

Mr G Thompson , the director, is the guarantor of a bank loan. At 30 November 2025, a loan balance of £9,483 (2024 - £8,306).
7. Creditors: amounts falling due after more than one year

|  |  | 2025 | 2024
|  |  | £ | £
| Bank loans and overdrafts |  | 24,879 | 44,991
| Obligations under finance leases (secured) |  | 362,667 | 339,827
|  |  | ________ | ________
|  |  | 387,546 | 384,818
|  |  | ________ | ________

Mr G Thompson, the director, is the guarantor of a bank loan. At 30 November 2025, a loan balance of £24, 879 (2024 - £34,991).
8. Operating leases
At 30 November 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £145,750 (2024 - £627,106).
9. Pension commitments
The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £14,291 (2024 - £12,823) were due to the fund. They are included in other creditors.
10. Directors advances, credits and guarantees
During the year the company made advances to Mr G Thompson , the director, totalling £202,015 (2024 - £53,543). Repayments of £53,543 were made by 30 November 2025 and so the balance outstanding at the year end, 30 November 2025, was £202,015 (2024 - £53,543). Where applicable, interest is charged on overdrawn loan accounts at the rate of 2.25% per annum for the period to 5 April 2025 and 3.75% thereafter. Loans are repayable on demand.