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Registration number: 10324006

Tenby Tyre Centre Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 August 2025

Tenby Tyre Centre Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Financial Statements | 4 to 10

Tenby Tyre Centre Limited

Company Information

Director | Mr G Hay

Registered office | Barclays Bank Chambers 18 High Street High Street Tenby Pembrokeshire SA70 7HD

Tenby Tyre Centre Limited

(Registration number: 10324006)
Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 6 | 13,577 | 11,801
Current assets |  |  |
Stocks | 7 | 25,000 | 25,000
Debtors | 8 | 5,149 | 4,135
Cash at bank and in hand |  | 3,339 | 2,309
|  | 33,488 | 31,444
Creditors: Amounts falling due within one year | 9 | (95,246) | (86,460)
Net current liabilities |  | (61,758) | (55,016)
Total assets less current liabilities |  | (48,181) | (43,215)
Creditors: Amounts falling due after more than one year | 9 | (20,688) | (26,378)
Provisions for liabilities |  | (2,242) | (2,242)
Net liabilities |  | (71,111) | (71,835)
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Profit and loss account |  | (71,113) | (71,837)
Total equity |  | (71,111) | (71,835)

For the financial 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.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Tenby Tyre Centre Limited

(Registration number: 10324006)
Balance Sheet as at 31 August 2025

Approved and authorised by the director on 6 May 2026

......................................... Mr G Hay Director |  |

Tenby Tyre Centre Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

These financial statements were authorised for issue by the director on 6 May 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tenby Tyre Centre Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and Machinery | 15% Reducing Balance
Motor Vehicles | 25% Reducing Balance
Office Equipment | 33% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Tenby Tyre Centre Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Tenby Tyre Centre Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 3).

4 | Profit/loss before tax

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 3,820 | 2,291

Tenby Tyre Centre Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

5 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 September 2024 | 30,000 | 30,000
At 31 August 2025 | 30,000 | 30,000
Amortisation
At 1 September 2024 | 30,000 | 30,000
At 31 August 2025 | 30,000 | 30,000
Carrying amount
At 31 August 2025 | - | -

Revalued assets for the year ended 31 August 2024

6 | Tangible assets

| Plant and machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 September 2024 | 19,754 | - | 11,000 | 30,754
Additions | 7,200 | 804 | - | 8,004
Disposals | - | - | (11,000) | (11,000)
At 31 August 2025 | 26,954 | 804 | - | 27,758
Depreciation
At 1 September 2024 | 10,882 | 13 | 8,863 | 19,758
Charge for the year | 1,350 | 261 | 2,209 | 3,820
Eliminated on disposal | - | - | (9,397) | (9,397)
At 31 August 2025 | 12,232 | 274 | 1,675 | 14,181
Carrying amount
At 31 August 2025 | 14,722 | 530 | (1,675) | 13,577
At 31 August 2024 | 8,873 | 791 | 2,137 | 11,801

7 | Stocks

| 2025 £ | 2024 £
Other inventories | 25,000 | 25,000

Tenby Tyre Centre Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

8 | Debtors

| 2025 £ | 2024 £
Trade debtors | 5,149 | 4,135
| 5,149 | 4,135

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Bank loans and overdrafts | 11 | 6,249 | 9,637
Trade creditors |  | 7,912 | 16,500
Taxation and social security |  | 11,730 | 10,080
Directors' loan accounts | 12 | 66,782 | 48,672
Other creditors |  | 2,573 | 1,571
|  | 95,246 | 86,460

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 11 | 20,688 | 26,378

Tenby Tyre Centre Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

10 | Share capital

Allotted, called up and not fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary Shares of £1 each | 2 | 2 | 2 | 2

11 | Loans and borrowings

| 2025 £ | 2024 £
Non-current loans and borrowings
Bank borrowings | 20,688 | 26,378

| 2025 £ | 2024 £
Current loans and borrowings
Bank borrowings | 5,500 | 5,500
Bank overdrafts | 749 | 4,137
| 6,249 | 9,637

12 | Related party transactions

At the reporting date, the company owed the director £66,782 (2024 : £48,674). This loan is interest free and repayable on demand.