Goodtread Tyre Company (Evanton) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC061135 (Scotland)

Goodtread Tyre Company (Evanton) Limited

Financial Statements For The Year Ended 29 August 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A D J Mackenzie

SECRETARY:

A D J Mackenzie

REGISTERED OFFICE:

38/40 High Street

Alness

Ross-Shire

IV17 0PS

REGISTERED NUMBER:

SC061135 (Scotland)

ACCOUNTANTS:

The Long Partnership

1st Floor

Robertson House

Shore Street

Inverness

Highland

IV1 1NF

BANKERS:

The Royal Bank Of Scotland plc

Alness Branch

53 High Street

Alness

Ross-Shire

IV17 0SH

FIXED ASSETS

Tangible assets

4

623,667

655,012

Investments

5

1,000

624,667

656,012

CURRENT ASSETS

Stocks

1,578,615

1,366,189

Debtors

6

431,288

583,958

Cash at bank and in hand

99,202

138,586

2,109,105

2,088,733

CREDITORS

Amounts falling due within one year

7

861,225

817,794

NET CURRENT ASSETS

1,247,880

1,270,939

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,872,547

1,926,951

CREDITORS

Amounts falling due after more than one
year

8

(16,346

)

(62,733

)

PROVISIONS FOR LIABILITIES

9

(83,650

)

(94,692

)

NET ASSETS

1,772,551

1,769,526

CAPITAL AND RESERVES

Called up share capital

10

24,000

Revaluation reserve

11

323,146

Retained earnings

11

1,425,405

1,422,380

SHAREHOLDERS' FUNDS

1,772,551

1,769,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2026 and were signed by:

A D J Mackenzie - Director

1.	STATUTORY INFORMATION

Goodtread Tyre Company (Evanton) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Equipment

-

15% on cost

Fixtures and fittings

-

20% on cost and 10% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

property

Equipment

£

COST OR VALUATION

At 30 August 2024

590,000

7,177

173,636

Additions

-

1,995

Disposals

-

At 29 August 2025

590,000

7,177

175,631

DEPRECIATION

At 30 August 2024

-

7,177

165,545

Charge for year

-

5,101

Eliminated on disposal

-

At 29 August 2025

-

7,177

170,646

NET BOOK VALUE

At 29 August 2025

590,000

-

4,985

At 29 August 2024

590,000

-

8,091

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST OR VALUATION

At 30 August 2024

123,690

334,563

1,229,066

Additions

-

1,995

Disposals

-

(31,432

)

(31,432

)

At 29 August 2025

123,690

303,131

1,199,629

DEPRECIATION

At 30 August 2024

123,249

278,083

574,054

Charge for year

295

27,944

33,340

Eliminated on disposal

-

(31,432

)

(31,432

)

At 29 August 2025

123,544

274,595

575,962

NET BOOK VALUE

At 29 August 2025

146

28,536

623,667

At 29 August 2024

441

56,480

655,012

Cost or valuation at 29 August 2025 is represented by:

Improvements

Freehold

to

property

Equipment

£

Valuation in 2012

272,877

-

Valuation in 2016

125,000

-

Valuation in 2017

25,000

-

Cost

167,123

7,177

175,631

590,000

7,177

175,631

Fixtures

and

Motor

fittings

vehicles

Totals

£

Valuation in 2012

-

272,877

Valuation in 2016

-

125,000

Valuation in 2017

-

25,000

Cost

123,690

303,131

776,752

123,690

303,131

1,199,629

If freehold property had not been revalued they would have been included at the following historical cost:

29.8.25

29.8.24

£

Cost

167,123

Freehold land and buildings were valued on an open market basis on 19 May 2017 by Allied Scotland, Chartered Surveyors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

Equipment

vehicles

Totals

£

COST OR VALUATION

At 30 August 2024

and 29 August 2025

29,216

145,202

174,418

DEPRECIATION

At 30 August 2024

18,321

131,356

149,677

Charge for year

650

7,533

8,183

At 29 August 2025

18,971

138,889

157,860

NET BOOK VALUE

At 29 August 2025

10,245

6,313

16,558

At 29 August 2024

10,895

13,846

24,741

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 30 August 2024

and 29 August 2025

1,000

NET BOOK VALUE

At 29 August 2025

1,000

At 29 August 2024

1,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.8.25

29.8.24

£

Trade debtors

425,327

539,834

Other debtors

5,961

Prepayments

-

38,163

431,288

583,958

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.8.25

29.8.24

£

Other loans

8,119

9,768

Hire purchase contracts

17,387

17,487

Trade creditors

550,080

581,880

Tax

5,870

7,394

Social security and other taxes

226,451

170,139

VAT

6,404

17,552

Sundry creditors

33,204

10,365

Accrued expenses

13,710

3,209

861,225

817,794

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

29.8.25

29.8.24

£

Other loans - 1-2 years

-

8,456

Hire purchase contracts

16,346

54,277

16,346

62,733

9.	PROVISIONS FOR LIABILITIES

29.8.25

29.8.24

£

Deferred tax

83,650

94,692

Deferred

tax

£

Balance at 30 August 2024

94,692

Utilised during year

(11,042

)

Balance at 29 August 2025

83,650

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.8.25

29.8.24

value:

£

24,000

Ordinary

£1

24,000

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 30 August 2024

1,422,380

323,146

1,745,526

Profit for the year

3,025

At 29 August 2025

1,425,405

323,146

1,748,551

12.	ULTIMATE CONTROLLING PARTY

The controlling party is A D J Mackenzie.