Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

(Registration number: 03722878)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	675	1,483
Tangible assets	5	158,944	152,801
		159,619	154,284
Current assets
Stocks	6	636,436	602,990
Debtors	7	297,640	263,395
Cash at bank and in hand		289,069	277,167
		1,223,145	1,143,552
Creditors: Amounts falling due within one year	8	(698,678)	(703,655)
Net current assets		524,467	439,897
Total assets less current liabilities		684,086	594,181
Provisions for liabilities		(38,672)	(39,545)
Net assets		645,414	554,636
Capital and reserves
Called up share capital	9	6	6
Retained earnings		645,408	554,630
Shareholders' funds		645,414	554,636

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

(Registration number: 03722878)
Balance Sheet as at 31 December 2025
(continued)

•	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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 June 2026 and signed on its behalf by:
 

......................................... Mr Ian Arthur Jones Director

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

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

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA
England

The principal place of business is:
Unit 2
18 Headbrook
Kington
Herefordshire
HR5 3DZ
United Kingdom

These financial statements were authorised for issue by the Board on 18 June 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).

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
(continued)

2	Accounting policies (continued)

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.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tax

The tax expense for the period comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantially enacted by the end of the reporting period.

Tangible assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:

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	20% of cost per annum

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
(continued)

2	Accounting policies (continued)

Motor vehicles	20% of written down value per annum
Fixtures and fittings	20% of written down value per annum
Computer equipment	33% of cost per annum
Leasehold property improvements	10% of cost per annum

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% cost per annum
Software	33% of cost per annum

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
(continued)

2	Accounting policies (continued)

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2024 - 27).

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
(continued)

4	Intangible assets

	Goodwill  £	Software £	Total £
Cost or valuation
At 1 January 2025	-	6,952	6,952
Disposals	167,516	-	167,516
At 31 December 2025	167,516	6,952	174,468
Amortisation
At 1 January 2025	167,516	5,469	172,985
Amortisation charge	-	808	808
At 31 December 2025	167,516	6,277	173,793
Carrying amount
At 31 December 2025	-	675	675
At 31 December 2024	-	1,483	1,483

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
(continued)

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	338,635	88,884	427,519
Additions	36,086	27,350	63,436
Disposals	-	(26,300)	(26,300)
At 31 December 2025	374,721	89,934	464,655
Depreciation
At 1 January 2025	231,926	42,792	274,718
Charge for the year	34,047	6,716	40,763
Eliminated on disposal	-	(9,770)	(9,770)
At 31 December 2025	265,973	39,738	305,711
Carrying amount
At 31 December 2025	108,748	50,196	158,944
At 31 December 2024	106,709	46,092	152,801

6

Stocks

	2025 £	2024 £
Other inventories	636,436	602,990

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
(continued)

7

Debtors

Current	2025 £	2024 £
Trade debtors	274,734	242,004
Prepayments	22,906	21,391
	297,640	263,395

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
(continued)

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	430,802	542,205
Taxation and social security	149,591	98,150
Accruals and deferred income	23,140	18,942
Other creditors	95,145	44,358
	698,678	703,655

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £1 each	6	6	6	6

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £108,130 (2024 - £110,094).

Ian Jones Tyres Ltd.

trading as Ian Jones Tyres Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
(continued)

10	Financial commitments, guarantees and contingencies (continued)

The total amount of financial commitments not included in the balance sheet concerning pensions is £13,807 (2024 - £14,521).

11	Related party transactions

Mr I Jones and Mrs M Jones, directors and shareholders, charged the company rent of £72,000 (2024 £72,000) for use of the premises in Kington and Clyro for the year ended 31 December 2025.

The above transactions were in the normal course of business and were conducted on an at arms length basis