South West Tyre Recycling Limited

Registered number

12679535

Filleted Accounts

31 May 2025

South West Tyre Recycling Limited
Registered number:		12679535
Balance Sheet
as at 31 May 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		8,000			12,000
Tangible assets	4		561,895			468,036
			569,895			480,036

Current assets
Stocks		5,170			23,880
Debtors	5	526,161			228,237
Cash at bank and in hand		302,934			192,578
		834,265			444,695

Creditors: amounts falling due within one year	6	(442,491)			(239,428)

Net current assets			391,774			205,267

Net assets			961,669			685,303

Capital and reserves
Called up share capital			1			1
Profit and loss account			961,668			685,302

Shareholder's funds			961,669			685,303

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.




Jonathon Palmer
Director
Approved by the board on 28 May 2026

South West Tyre Recycling Limited
Notes to the Accounts
for the year ended 31 May 2025


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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Motor vehicles			at 25% on reducing balance
	Plant and machinery			at 20% on reducing balance
	Fixtures, fittings, tools and equipment			at 20% on reducing balance

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					10		8


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 June 2024							20,000
	At 31 May 2025							20,000

	Amortisation
	At 1 June 2024							8,000
	Provided during the year							4,000
	At 31 May 2025							12,000

	Net book value
	At 31 May 2025							8,000
	At 31 May 2024							12,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 June 2024	9,559		332,615		398,852		741,026
	Additions	2,155		160,226		162,841		325,222
	Disposals	-		-		(84,863)		(84,863)
	At 31 May 2025	11,714		492,841		476,830		981,385

	Depreciation
	At 1 June 2024	3,155		117,603		152,232		272,990
	Charge for the year	2,824		77,148		85,213		165,185
	On disposals	-		-		(18,685)		(18,685)
	At 31 May 2025	5,979		194,751		218,760		419,490

	Net book value
	At 31 May 2025	5,735		298,090		258,070		561,895
	At 31 May 2024	6,404		215,012		246,620		468,036


5	Debtors					2025		2024
£							£

	Trade debtors					183,210		147,312
	Other debtors					342,951		80,925
						526,161		228,237


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					90,905		38,342
	Taxation and social security costs					253,845		159,810
	Other creditors					97,741		41,276
						442,491		239,428


7	Other information

	South West Tyre Recycling Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 1 Gwel Avon Business Park
	Gilston Road
	SALTASH
	Cornwall
	PL12 6TW