Harry Park Tyres Limited - Filleted accounts

Registered number

08131208

Harry Park Tyres Limited

Unaudited Filleted Accounts

For the Year Ended

31 July 2025

Harry Park Tyres Limited
Registered number:		08131208
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		51,894			59,877

Current assets
Stocks		39,844			35,191
Debtors	4	75,327			63,617
Cash at bank and in hand		83,602			65,509
		198,773			164,317

Creditors: amounts falling due within one year	5	(162,997)			(146,541)

Net current assets			35,776			17,776

Total assets less current liabilities			87,670			77,653


Provisions for liabilities			(10,275)			(12,700)


Net assets			77,395			64,953

Capital and reserves
Called up share capital			2			2
Profit and loss account			77,393			64,951

Shareholders' funds			77,395			64,953

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.




I Park
Director
Approved by the board on 16 April 2026

Harry Park Tyres Limited
Notes to the Accounts
for the year ended 31 July 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.

	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:

	Motor vehicles	25% reducing balance
	Plant and machinery	10% reducing balance
	Computer equipment	over 3 years

	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		5


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 August 2024	71,553		46,850		118,403
	Additions	2,154		-		2,154
	At 31 July 2025	73,707		46,850		120,557

	Depreciation
	At 1 August 2024	35,148		23,378		58,526
	Charge for the year	4,268		5,869		10,137
	At 31 July 2025	39,416		29,247		68,663

	Net book value
	At 31 July 2025	34,291		17,603		51,894
	At 31 July 2024	36,405		23,472		59,877


4	Debtors			2025		2024
£					£

	Trade debtors			68,597		56,180
	Other debtors			6,730		7,437
				75,327		63,617


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

	Bank loans and overdrafts			5,648		10,354
	Trade creditors			133,234		105,372
	Taxation and social security costs			21,723		28,482
	Other creditors			2,392		2,333
				162,997		146,541


6	Other information

	Harry Park Tyres Limited is a private company limited by shares and incorporated in England. Its registered office is:
	75 Appleby Road
	Kendal
	Cumbria
	LA9 6HE