Morgans Tyres Limited 31/08/2025 iXBRL

Company registration number: 01319726

Morgans Tyres Limited

Unaudited filleted financial statements

31 August 2025

Morgans Tyres Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Morgans Tyres Limited

Directors and other information


	Directors	Mr A M Morgan
		Mr D W Morgan


	Company number	01319726


	Registered office	Oxford Road
		Hartlepool
		TS25 5RU


	Business address	Oxford Road
		Hartlepool
		TS25 5RU


	Accountants	Censis
		Exchange Building
		66 Church Street
		Hartlepool
		TS24 7DN

Morgans Tyres Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Morgans Tyres Limited

Year ended 31 August 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morgans Tyres Limited for the year ended 31 August 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Morgans Tyres Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Morgans Tyres Limited and state those matters that we have agreed to state to the board of directors of Morgans Tyres Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morgans Tyres Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Morgans Tyres Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Morgans Tyres Limited. You consider that Morgans Tyres Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morgans Tyres Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Censis

Chartered Accountants

Exchange Building

66 Church Street

Hartlepool

TS24 7DN

5 May 2026

Morgans Tyres Limited

Statement of financial position

31 August 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	37,771		32,555
		_______		_______
			37,771		32,555

Current assets
Stocks		73,961		71,055
Debtors	6	46,767		41,091
Cash at bank and in hand		15,364		90
		_______		_______
		136,092		112,236
Creditors: amounts falling due
within one year	7	( 296,451)		( 204,652)
		_______		_______
Net current liabilities			( 160,359)		( 92,416)
			_______		_______
Total assets less current liabilities			( 122,588)		( 59,861)

Creditors: amounts falling due
after more than one year	8		-		( 8,333)
			_______		_______
Net liabilities			( 122,588)		( 68,194)
			_______		_______

Capital and reserves
Called up share capital			10,000		10,000
Profit and loss account			( 132,588)		( 78,194)
			_______		_______
Shareholders deficit			( 122,588)		( 68,194)
			_______		_______

For the year ending 31 August 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 year in question in accordance with section 476;

- The directors acknowledge 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 05 May 2026 , and are signed on behalf of the board by:

Mr A M Morgan

Director

Company registration number: 01319726

Morgans Tyres Limited

Notes to the financial statements

Year ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Morgans Tyres Limited, Oxford Road, Hartlepool, TS25 5RU.

2. Statement of compliance

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'.

3. Accounting policies

Basis of preparation

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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Freehold property	-	Straight line over 50 years
Plant and machinery	-	Straight line over 10 years
Fittings fixtures and equipment	-	Straight line over 5 - 10 years
Motor vehicles	-	Straight line over 4 years

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2024: 15 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 September 2024	33,740	203,552	79,830	46,167	363,289
Additions	-	13,495	-	1,000	14,495
Disposals	-	-	-	( 4,495)	( 4,495)
	_______	_______	_______	_______	_______
At 31 August 2025	33,740	217,047	79,830	42,672	373,289
	_______	_______	_______	_______	_______
Depreciation
At 1 September 2024	21,060	196,039	79,829	33,806	330,734
Charge for the year	600	2,537	-	6,142	9,279
Disposals	-	-	-	( 4,495)	( 4,495)
	_______	_______	_______	_______	_______
At 31 August 2025	21,660	198,576	79,829	35,453	335,518
	_______	_______	_______	_______	_______
Carrying amount
At 31 August 2025	12,080	18,471	1	7,219	37,771
	_______	_______	_______	_______	_______
At 31 August 2024	12,680	7,513	1	12,361	32,555
	_______	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	38,143	32,891
Other debtors	8,624	8,200
	_______	_______
	46,767	41,091
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	67,348	19,657
Trade creditors	71,783	75,404
Social security and other taxes	32,983	28,430
Other creditors	124,337	81,161
	_______	_______
	296,451	204,652
	_______	_______

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

	2025	2024
	£	£
Bank loans and overdrafts	-	8,333
	_______	_______

9. Controlling party

For the whole year the company was under the control of the directors.