Minimax Tyres Limited 31/03/2025 iXBRL

Company registration number: 05398675

Minimax Tyres Limited

Unaudited filleted financial statements

31 March 2025

Minimax Tyres Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Minimax Tyres Limited

Directors and other information


	Directors	Mr Linton Harrison
		Mr Jason Harrison
		Mrs Zoe Jones


	Secretary	Zoe Jones


	Company number	05398675


	Registered office	Crossens Way Business Park
		Crossens Way
		Southport
		United Kingdom
		PR9 9LY


	Business address	3 School Lane
		Heaton Chapel
		Stockport
		Cheshire
		SK4 5HE


	Accountants	Forshaws Accountants Limited
		Crossens Way Business Park
		Crossens Way
		Southport
		Merseyside
		PR9 9LY

Minimax Tyres Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Minimax Tyres Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Minimax Tyres Limited for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Minimax Tyres Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Minimax Tyres Limited and state those matters that we have agreed to state to the board of directors of Minimax Tyres Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Minimax Tyres Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Minimax Tyres Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Minimax Tyres Limited. You consider that Minimax Tyres Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Minimax Tyres Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Forshaws Accountants Limited

Chartered Accountants

Crossens Way Business Park

Crossens Way

Southport

Merseyside

PR9 9LY

30 September 2025

Minimax Tyres Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	7	-		-
Tangible assets	8	17,535		16,887
		_______		_______
			17,535		16,887

Current assets
Stocks		27,700		26,500
Debtors	9	5,585		15,274
Cash at bank and in hand		119,971		183,475
		_______		_______
		153,256		225,249
Creditors: amounts falling due
within one year	10	( 101,917)		( 133,078)
		_______		_______
Net current assets			51,339		92,171
			_______		_______
Total assets less current liabilities			68,874		109,058


Provisions for liabilities	11		( 4,384)		( 4,222)

			_______		_______
Net assets			64,490		104,836
			_______		_______

Capital and reserves
Called up share capital	13		300		300
Profit and loss account			64,190		104,536
			_______		_______
Shareholders funds			64,490		104,836
			_______		_______

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

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mrs Zoe Jones

Director

Company registration number: 05398675

Minimax Tyres Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, incorporated in England. The address of the registered office is Crossens Way Business Park, Crossens Way, Southport, United Kingdom, PR9 9LY.The principal activity of the company is that of motor vehicle repairs and maintenance.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in pound sterling, which is the functional currency of the entity.

Going concern

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the provision of services is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	3.00% Straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25.00% Reducing balance
Fittings fixtures and equipment	-	25.00% Reducing balance
Computer equipment	-	33.33% Straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Staff costs

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	298,944	295,844
Social security costs	21,143	20,872
Other pension costs	50,000	-
	_______	_______
	370,087	316,716
	_______	_______

5. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2024: 12 ).

6. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	21,284	21,693
Company contributions to pension schemes in respect of qualifying services	50,000	-
	_______	_______
	71,284	21,693
	_______	_______

7. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	331,697	331,697
	_______	_______
Amortisation
At 1 April 2024 and 31 March 2025	331,697	331,697
	_______	_______
Carrying amount
At 31 March 2025	-	-
	_______	_______
At 31 March 2024	-	-
	_______	_______

8. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	23,700	41,859	6,950	11,818	84,327
Additions	-	4,607	-	1,315	5,922
	_______	_______	_______	_______	_______
At 31 March 2025	23,700	46,466	6,950	13,133	90,249
	_______	_______	_______	_______	_______
Depreciation
At 1 April 2024	18,985	29,855	6,950	11,069	66,859
Charge for the year	1,179	4,191	-	485	5,855
	_______	_______	_______	_______	_______
At 31 March 2025	20,164	34,046	6,950	11,554	72,714
	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2025	3,536	12,420	-	1,579	17,535
	_______	_______	_______	_______	_______
At 31 March 2024	4,715	12,004	-	749	17,468
	_______	_______	_______	_______	_______

9. Debtors

	2025	2024
	£	£
Trade debtors	1,077	11,419
Other debtors	4,508	3,855
	_______	_______
	5,585	15,274
	_______	_______

10. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	45,755	65,849
Corporation tax	25,507	31,309
Social security and other taxes	27,706	26,751
Other creditors	2,949	9,169
	_______	_______
	101,917	133,078
	_______	_______

11. Provisions

	Deferred tax (note 12)	Total
	£	£
At 1 April 2024	4,222	4,222
Additions	162	162
	_______	_______
At 31 March 2025	4,384	4,384
	_______	_______

12. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 11)	4,384	4,222
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	4,384	4,143
	_______	_______

13. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary 'A' shares of £ 1.00 each	100	100	100	100
Ordinary 'B' shares of £ 1.00 each	100	100	100	100
Ordinary 'C' shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______
	300	300	300	300
	_______	_______	_______	_______

14. Directors advances, credits and guarantees

At 31st March 2025, £774 was owed to a director by the company. This amount is unsecured and interest free.

15. Controlling party

The Company is not under the control of any single party.