G T Tyres (Cumbria) Limited 30/11/2025 iXBRL

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.