Speedline Tyres Limited - Filleted accounts

Registered number

04702242

Speedline Tyres Limited

Filleted Accounts

31 March 2026

Speedline Tyres Limited
Registered number:		04702242
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		121,069			139,919

Current assets
Stocks		91,595			117,884
Work in progress		627			5,831
Debtors	4	231,855			204,825
Cash at bank and in hand		141,889			135,857
		465,966			464,397

Creditors: amounts falling due within one year	5	(171,943)			(166,877)

Net current assets			294,023			297,520

Total assets less current liabilities			415,092			437,439

Creditors: amounts falling due after more than one year	6		-			(6,196)

Provisions for liabilities			(22,533)			(25,842)


Net assets			392,559			405,401

Capital and reserves
Called up share capital			100			100
Profit and loss account			392,459			405,301

Shareholders' funds			392,559			405,401

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.




JG Irving
Director
Approved by the board on 20 May 2026

Speedline Tyres Limited
Notes to the Accounts
for the year ended 31 March 2026


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:

	Plant and machinery etc	25% reducing value
	Motor vehicles	25% reducing value

	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			2026		2025
Number					Number

	Average number of persons employed by the company			9		10


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2025	156,425		237,833		394,258
	Additions	15,693		14,000		29,693
	Disposals	(5,138)		(68,808)		(73,946)
	At 31 March 2026	166,980		183,025		350,005

	Depreciation
	At 1 April 2025	121,223		133,116		254,339
	Charge for the year	9,790		26,903		36,693
	On disposals	(4,823)		(57,273)		(62,096)
	At 31 March 2026	126,190		102,746		228,936

	Net book value
	At 31 March 2026	40,790		80,279		121,069
	At 31 March 2025	35,202		104,717		139,919


4	Debtors			2026		2025
£					£

	Trade debtors			212,107		186,860
	Other debtors			19,748		17,965
				231,855		204,825


5	Creditors: amounts falling due within one year			2026		2025
£					£

	Obligations under finance lease and hire purchase contracts			6,196		6,196
	Trade creditors			110,608		110,241
	Taxation and social security costs			43,073		39,449
	Other creditors			12,066		10,991
				171,943		166,877


6	Creditors: amounts falling due after one year			2026		2025
£					£

	Obligations under finance lease and hire purchase contracts			-		6,196


7	Other information

	Speedline Tyres Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Goose Green Cottage
	Whittonstall
	Consett
	County Durham
	DH8 9JT