Discount Wholesale Tyres (Hemel) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01509336 (England and Wales)

DISCOUNT WHOLESALE TYRES (HEMEL) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr F J Barnett

Mr C D Lilly

REGISTERED OFFICE:

7-8

Portmill Lane

Hitchin

Hertfordshire

SG5 1DJ

REGISTERED NUMBER:

01509336 (England and Wales)

ACCOUNTANTS:

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

7-8 Portmill Lane

Hitchin

Hertfordshire

SG5 1DJ

FIXED ASSETS

Tangible assets

4

99,627

99,163

CURRENT ASSETS

Stocks

94,383

95,907

Debtors

5

49,116

61,987

Cash at bank and in hand

68,000

51,876

211,499

209,770

CREDITORS

Amounts falling due within one year

6

200,175

183,472

NET CURRENT ASSETS

11,324

26,298

TOTAL ASSETS LESS CURRENT
LIABILITIES

110,951

125,461

PROVISIONS FOR LIABILITIES

16,167

18,841

NET ASSETS

94,784

106,620

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

8

94,684

106,520

SHAREHOLDERS' FUNDS

94,784

106,620

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2026 and were signed on its behalf by:

Mr F J Barnett - Director

1.	STATUTORY INFORMATION

Discount Wholesale Tyres (Hemel) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The director's have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover

Turnover is derived from the sale of tyres and associated services and is recognised when the customer has received the service. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

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 that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 17 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

COST

At 1 September 2024

25,601

254,447

74,571

135,490

490,109

Additions

-

450

27,025

27,475

Disposals

-

(12,995

)

(12,995

)

At 31 August 2025

25,601

254,447

75,021

149,520

504,589

DEPRECIATION

At 1 September 2024

25,600

225,894

68,648

70,804

390,946

Charge for year

-

4,397

1,320

21,221

26,938

Eliminated on disposal

-

(12,922

)

(12,922

)

At 31 August 2025

25,600

230,291

69,968

79,103

404,962

NET BOOK VALUE

At 31 August 2025

1

24,156

5,053

70,417

99,627

At 31 August 2024

1

28,553

5,923

64,686

99,163

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

26,359

29,460

Other debtors

22,757

32,527

49,116

61,987

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Hire purchase contracts

-

1,444

Trade creditors

70,336

78,885

Taxation and social security

63,615

47,535

Other creditors

66,224

55,608

200,175

183,472

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

8.

RESERVES

Retained

earnings

£

At 1 September 2024

106,520

Profit for the year

58,164

Dividends

(70,000

)

At 31 August 2025

94,684

9.	RELATED PARTY DISCLOSURES

At the balance sheet date, the directors were owed £17,085.

During the year dividends of £51,800 (2024 - £53,280) were paid to close family members.

Discount Tyres Limited

A company in which F J Barnett is a director and shareholder.

During the year the company entered into the following transactions with Discount Tyres Limited:

2025

2024

£

Sales

8,742

4,559

Purchases

0

2,300

Management charge

30,000

2025

2024

£

Amount due from/(to) related party

Nil