Company No: SC233638 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	351,369		346,900
		351,369		346,900
Current assets
Stocks	5	361,746		351,086
Debtors	6	324,278		330,968
Cash at bank and in hand	7	276,172		517,603
		962,196		1,199,657
Creditors: amounts falling due within one year	8	( 656,382)		( 821,706)
Net current assets		305,814		377,951
Total assets less current liabilities		657,183		724,851
Creditors: amounts falling due after more than one year	9	( 58,525)		( 79,303)
Provision for liabilities		( 31,498)		( 25,508)
Net assets		567,160		620,040
Capital and reserves
Called-up share capital	10	16,000		16,000
Profit and loss account		551,160		604,040
Total shareholders' funds		567,160		620,040

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Fairdeal Tyres Ltd. (registered number: SC233638) were approved and authorised for issue by the Board of Directors on 29 April 2026. They were signed on its behalf by:

Andrew Holmes Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fairdeal Tyres Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 6 Beancross Road, Grangemouth, FK3 8YL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	15 % reducing balance
Computer equipment	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	39		33

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 August 2024	32,000		32,000
At 31 July 2025	32,000		32,000
Accumulated amortisation
At 01 August 2024	32,000		32,000
At 31 July 2025	32,000		32,000
Net book value
At 31 July 2025	0		0
At 31 July 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 August 2024	207,701		94,169		112,580		47,740		12,101		474,291
Additions	0		15,170		18,000		21,750		850		55,770
Disposals	0		0		( 28,801)		0		0		( 28,801)
At 31 July 2025	207,701		109,339		101,779		69,490		12,951		501,260
Accumulated depreciation
At 01 August 2024	0		56,070		23,360		38,584		9,377		127,391
Charge for the financial year	0		7,289		22,509		3,308		409		33,515
Disposals	0		0		( 11,015)		0		0		( 11,015)
At 31 July 2025	0		63,359		34,854		41,892		9,786		149,891
Net book value
At 31 July 2025	207,701		45,980		66,925		27,598		3,165		351,369
At 31 July 2024	207,701		38,099		89,220		9,156		2,724		346,900

5. Stocks

	2025		2024
	£		£
Stocks	361,746		351,086

6. Debtors

	2025		2024
	£		£
Trade debtors	296,910		330,968
Corporation tax	23,905		0
Other debtors	3,463		0
	324,278		330,968

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	276,172		517,603

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	18,781		18,776
Trade creditors	451,497		558,857
Amounts owed to directors	6,505		1,833
Accruals	11,776		15,736
Corporation tax	51,576		113,489
Other taxation and social security	111,184		109,413
Other creditors	5,063		3,602
	656,382		821,706

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	58,525		79,303

The Bank of Scotland hold a floating charge over all of the assets of the company.

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
16,000 Ordinary shares of £ 1.00 each	16,000		16,000

11. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed to directors	6,505		1,833