IRIS Accounts Production v23.1.0.753 08287824 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure082878242022-06-30082878242023-06-30082878242022-07-012023-06-30082878242021-06-30082878242021-07-012022-06-30082878242022-06-3008287824ns16:EnglandWales2022-07-012023-06-3008287824ns15:PoundSterling2022-07-012023-06-3008287824ns11:Director12022-07-012023-06-3008287824ns11:PrivateLimitedCompanyLtd2022-07-012023-06-3008287824ns11:SmallEntities2022-07-012023-06-3008287824ns11:AuditExempt-NoAccountantsReport2022-07-012023-06-3008287824ns11:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3008287824ns11:SmallCompaniesRegimeForAccounts2022-07-012023-06-3008287824ns11:FullAccounts2022-07-012023-06-300828782412022-07-012023-06-3008287824ns11:Director22022-07-012023-06-3008287824ns11:Director32022-07-012023-06-3008287824ns11:RegisteredOffice2022-07-012023-06-3008287824ns6:CurrentFinancialInstruments2023-06-3008287824ns6:CurrentFinancialInstruments2022-06-3008287824ns6:ShareCapital2023-06-3008287824ns6:ShareCapital2022-06-3008287824ns6:SharePremium2023-06-3008287824ns6:SharePremium2022-06-3008287824ns6:RetainedEarningsAccumulatedLosses2023-06-3008287824ns6:RetainedEarningsAccumulatedLosses2022-06-3008287824ns6:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3008287824ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-07-012023-06-3008287824ns6:LeaseholdImprovements2022-07-012023-06-3008287824ns6:PlantMachinery2022-07-012023-06-3008287824ns6:FurnitureFittings2022-07-012023-06-3008287824ns6:MotorVehicles2022-07-012023-06-3008287824ns6:IntangibleAssetsOtherThanGoodwill2022-06-3008287824ns6:IntangibleAssetsOtherThanGoodwill2023-06-3008287824ns6:IntangibleAssetsOtherThanGoodwill2022-06-3008287824ns6:LeaseholdImprovements2022-06-3008287824ns6:PlantMachinery2022-06-3008287824ns6:FurnitureFittings2022-06-3008287824ns6:MotorVehicles2022-06-3008287824ns6:LeaseholdImprovements2023-06-3008287824ns6:PlantMachinery2023-06-3008287824ns6:FurnitureFittings2023-06-3008287824ns6:MotorVehicles2023-06-3008287824ns6:LeaseholdImprovements2022-06-3008287824ns6:PlantMachinery2022-06-3008287824ns6:FurnitureFittings2022-06-3008287824ns6:MotorVehicles2022-06-3008287824ns6:WithinOneYearns6:CurrentFinancialInstruments2023-06-3008287824ns6:WithinOneYearns6:CurrentFinancialInstruments2022-06-30
REGISTERED NUMBER: 08287824 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 June 2023

for

Exhaust Products Ltd

Exhaust Products Ltd (Registered number: 08287824)






Contents of the Financial Statements
For The Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Exhaust Products Ltd

Company Information
For The Year Ended 30 June 2023







DIRECTORS: Mr M L Funnell
Mr S Clay
Mr A Funnell





REGISTERED OFFICE: Unit 3B,
Bradley Park
High Holborn Road
Ripley
Derbyshire
DE5 3NW





REGISTERED NUMBER: 08287824 (England and Wales)





ACCOUNTANTS: Pedley & Co.
Chartered Certified Accountants
82 Nottingham Road
Somercotes
Alfreton
Derbyshire
DE55 4LY

Exhaust Products Ltd (Registered number: 08287824)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 301,164 344,907
301,164 344,907

CURRENT ASSETS
Stocks 8,500 8,500
Debtors 6 391,655 327,216
Cash at bank and in hand 61,818 55,412
461,973 391,128
CREDITORS
Amounts falling due within one year 7 401,330 370,574
NET CURRENT ASSETS 60,643 20,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

361,807

365,461

PROVISIONS FOR LIABILITIES 60,228 65,532
NET ASSETS 301,579 299,929

CAPITAL AND RESERVES
Called up share capital 45,007 45,007
Share premium (34,465 ) (34,465 )
Retained earnings 291,037 289,387
SHAREHOLDERS' FUNDS 301,579 299,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

Exhaust Products Ltd (Registered number: 08287824)

Balance Sheet - continued
30 June 2023


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 October 2023 and were signed on its behalf by:





Mr M L Funnell - Director


Exhaust Products Ltd (Registered number: 08287824)

Notes to the Financial Statements
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Exhaust Products Ltd (Registered number: 08287824)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 500
AMORTISATION
At 1 July 2022
and 30 June 2023 500
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 20,952 510,907 28,818 74,078 634,755
Additions - - 749 16,200 16,949
Disposals - (26,801 ) - - (26,801 )
At 30 June 2023 20,952 484,106 29,567 90,278 624,903
DEPRECIATION
At 1 July 2022 13,693 227,848 15,897 32,410 289,848
Charge for year 726 26,548 1,367 14,467 43,108
Eliminated on disposal - (9,217 ) - - (9,217 )
At 30 June 2023 14,419 245,179 17,264 46,877 323,739
NET BOOK VALUE
At 30 June 2023 6,533 238,927 12,303 43,401 301,164
At 30 June 2022 7,259 283,059 12,921 41,668 344,907

Exhaust Products Ltd (Registered number: 08287824)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 357,916 245,386
Other debtors 33,739 81,830
391,655 327,216

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 45,526 85,311
Hire purchase contracts 47,639 58,734
Trade creditors 274,040 149,949
Taxation and social security 26,968 74,280
Other creditors 7,157 2,300
401,330 370,574