REGISTERED NUMBER: 04272905 (England and Wales)

FAREHAM TYRES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J J Mitchell

Mrs H C Mitchell

P J Mitchell

Mrs N Mitchell

REGISTERED OFFICE:

160 Fareham Road

Gosport

PO13 0FN

REGISTERED NUMBER:

04272905 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Lake House

2 Port Way

Port Solent

Portsmouth

Hampshire

PO6 4TY

FIXED ASSETS

Tangible assets

4

51,712

67,491

CURRENT ASSETS

Stocks

131,736

143,596

Debtors

5

52,485

49,513

Cash at bank

432,152

404,601

616,373

597,710

CREDITORS

Amounts falling due within one year

6

136,974

149,704

NET CURRENT ASSETS

479,399

448,006

TOTAL ASSETS LESS CURRENT LIABILITIES

531,111

515,497

PROVISIONS FOR LIABILITIES

-

177

NET ASSETS

531,111

515,320

CAPITAL AND RESERVES

Called up share capital

244,018

244,018

Retained earnings

287,093

271,302

SHAREHOLDERS' FUNDS

531,111

515,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2026 and were signed on its behalf by:

J J Mitchell - Director

1.	STATUTORY INFORMATION

Fareham Tyres Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

straight line over 6 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2025

8,958

43,591

5,087

Additions

-

1,479

-

Disposals

-

-

-

At 31 December 2025

8,958

45,070

5,087

DEPRECIATION

At 1 January 2025

8,958

27,802

3,269

Charge for year

-

4,317

454

Eliminated on disposal

-

-

-

At 31 December 2025

8,958

32,119

3,723

NET BOOK VALUE

At 31 December 2025

-

12,951

1,364

At 31 December 2024

-

15,789

1,818

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

97,476

1,415

156,527

Additions

7,925

550

9,954

Disposals

(34,600

)

-

(34,600

)

At 31 December 2025

70,801

1,965

131,881

DEPRECIATION

At 1 January 2025

48,241

766

89,036

Charge for year

12,166

300

17,237

Eliminated on disposal

(26,104

)

-

(26,104

)

At 31 December 2025

34,303

1,066

80,169

NET BOOK VALUE

At 31 December 2025

36,498

899

51,712

At 31 December 2024

49,235

649

67,491

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

21,401

23,977

Other debtors

31,084

25,536

52,485

49,513

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

62,697

76,034

Taxation and social security

69,025

69,084

Other creditors

5,252

4,586

136,974

149,704