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REGISTERED NUMBER: 01702365 (England and Wales)


















THE PARTS CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






THE PARTS CENTRE LIMITED (REGISTERED NUMBER: 01702365)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE PARTS CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: M F Dyer
J H Dyer





SECRETARY: J H Dyer





REGISTERED OFFICE: Chwe Dair Gwaith
Warren Road
Brean
Somerset
TA8 2RP





REGISTERED NUMBER: 01702365 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

THE PARTS CENTRE LIMITED (REGISTERED NUMBER: 01702365)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,932 4,494

CURRENT ASSETS
Stocks - 1,000
Debtors 5 17,245 20,120
Cash at bank and in hand 25,629 30,749
42,874 51,869
CREDITORS
Amounts falling due within one year 6 (25,117 ) (30,171 )
NET CURRENT ASSETS 17,757 21,698
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,689

26,192

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 21,687 26,190
SHAREHOLDERS' FUNDS 21,689 26,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Profit and loss account has not been delivered.

The financial statements were approved for issue by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





M F Dyer - Director


THE PARTS CENTRE LIMITED (REGISTERED NUMBER: 01702365)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

The Parts Centre 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 Section 1A.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced in respect of the sale and hire of mechanical handling equipment and repair work undertaken during the year, exclusive of Value Added Tax.

Fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 10% on cost
Office equipment - 33% on cost

All fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments
Basic financial instruments are recognised at amortised cost.

THE PARTS CENTRE LIMITED (REGISTERED NUMBER: 01702365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant & Office
machinery equipment Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 5,617 65,363 70,980
DEPRECIATION
At 1 March 2022 1,123 65,363 66,486
Charge for year 562 - 562
At 28 February 2023 1,685 65,363 67,048
NET BOOK VALUE
At 28 February 2023 3,932 - 3,932
At 28 February 2022 4,494 - 4,494

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,995 14,623
Directors' current accounts - 5,247
Prepayments and accrued income 250 250
17,245 20,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,566 15,526
Corporation tax 6,246 7,603
VAT 2,404 3,232
Directors' current accounts 56 -
Accruals and deferred income 3,845 3,810
25,117 30,171

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 28 February 2022 J H Dyer and M F Dyer owed the company £5,247. The loan was repaid in the year ended 28 February 2023. The loan is interest free.