REGISTERED NUMBER: 09390796 (England and Wales)

Tyre and Wheel Services Limited

Unaudited Financial Statements

for the Year Ended 28 February 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

L D Adams

Mrs Y G Adams

REGISTERED OFFICE:

Unit 2 Dunheved Court

Pennygillam Way

Pennygillam Industrial Estate

Launceston

Cornwall

PL15 7ED

REGISTERED NUMBER:

09390796 (England and Wales)

ACCOUNTANTS:

ATC Advisors

Chartered Accountants

Unit 2 Dunheved Court

Pennygillam Way

LAUNCESTON

Cornwall

PL15 7ED

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

246,689

258,154

246,689

258,154

CURRENT ASSETS

Stocks

105,589

114,057

Debtors

6

235,545

196,321

Cash at bank

77,289

54,471

418,423

364,849

CREDITORS

Amounts falling due within one year

7

218,957

199,288

NET CURRENT ASSETS

199,466

165,561

TOTAL ASSETS LESS CURRENT LIABILITIES

446,155

423,715

CREDITORS

Amounts falling due after more than one year

8

(76,087

)

(97,001

)

PROVISIONS FOR LIABILITIES

(35,663

)

(38,529

)

NET ASSETS

334,405

288,185

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

334,305

288,085

SHAREHOLDERS' FUNDS

334,405

288,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2026 and were signed on its behalf by:

L Adams - Director

1.	STATUTORY INFORMATION

Tyre and Wheel Services 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.

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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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.

Short leasehold

-

10% on cost and not provided for on Land

Plant and machinery

-

33% on cost and 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Holiday pay accrual

During the transition year and the current year the amount of the unpaid holiday pay has not been provided for. This is a departure from the normal accounting policy as it is deemed immaterial to the understanding of the accounts and the cost of obtaining the information outweighs any benefits obtained.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2025 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2025

and 28 February 2026

85,000

AMORTISATION

At 1 March 2025

and 28 February 2026

85,000

NET BOOK VALUE

At 28 February 2026

-

At 28 February 2025

-

5.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

Motor

property

leasehold

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1 March 2025

103,844

14,133

171,896

83,400

373,273

Additions

-

-

27,165

-

27,165

At 28 February 2026

103,844

14,133

199,061

83,400

400,438

DEPRECIATION

At 1 March 2025

-

556

86,188

28,375

115,119

Charge for year

-

75

24,799

13,756

38,630

At 28 February 2026

-

631

110,987

42,131

153,749

NET BOOK VALUE

At 28 February 2026

103,844

13,502

88,074

41,269

246,689

At 28 February 2025

103,844

13,577

85,708

55,025

258,154

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

Motor

vehicles

£

COST

At 1 March 2025

and 28 February 2026

53,500

DEPRECIATION

At 1 March 2025

7,768

Charge for year

11,433

At 28 February 2026

19,201

NET BOOK VALUE

At 28 February 2026

34,299

At 28 February 2025

45,732

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

122,259

125,941

Other debtors

113,286

70,380

235,545

196,321

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

12,269

18,608

Hire purchase contracts

8,095

8,944

Trade creditors

110,379

109,171

Taxation and social security

84,673

60,115

Other creditors

3,541

2,450

218,957

199,288

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

51,183

64,001

Hire purchase contracts

24,904

33,000

76,087

97,001

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2026 and 28 February 2025:

2026

2025

£

£

L D Adams and Mrs Y G Adams

Balance outstanding at start of year

70,379

48,738

Amounts advanced

110,886

70,379

Amounts repaid

(75,200

)

(48,738

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

106,065

70,379

Interest has been charged on the overdrawn directors loan account balance at the HMRC approved rate.This balance has been repaid in full within 9 months of the year end by the declaration of a dividend.