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Company No: 08787587 (England and Wales)

EURO PARTS DEALER LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

EURO PARTS DEALER LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

EURO PARTS DEALER LIMITED

BALANCE SHEET

As at 30 November 2023
EURO PARTS DEALER LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,263 2,264
2,263 2,264
Current assets
Debtors 4 78,334 102,357
Cash at bank and in hand 35,203 7,065
113,537 109,422
Creditors: amounts falling due within one year 5 ( 41,386) ( 45,638)
Net current assets 72,151 63,784
Total assets less current liabilities 74,414 66,048
Provision for liabilities ( 565) ( 565)
Net assets 73,849 65,483
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 73,848 65,482
Total shareholder's funds 73,849 65,483

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Euro Parts Dealer Limited (registered number: 08787587) were approved and authorised for issue by the Director on 10 April 2024. They were signed on its behalf by:

Mr Damian Waniczek
Director
EURO PARTS DEALER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
EURO PARTS DEALER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Euro Parts Dealer Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 16 Fordh An Bal, Pool, Camborne, TR15 3SX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 10 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 December 2022 4,600 2,361 6,961
Additions 280 0 280
At 30 November 2023 4,880 2,361 7,241
Accumulated depreciation
At 01 December 2022 2,620 2,077 4,697
Charge for the financial year 210 71 281
At 30 November 2023 2,830 2,148 4,978
Net book value
At 30 November 2023 2,050 213 2,263
At 30 November 2022 1,980 284 2,264

4. Debtors

2023 2022
£ £
Trade debtors 9,640 6,526
Other debtors 68,694 95,831
78,334 102,357

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 16,063 2,432
Trade creditors 14,450 255
Taxation and social security 8,701 40,917
Other creditors 2,172 2,034
41,386 45,638

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Director's Loan Accounts 39,349 69,361

During the year, advances were made to the director of £17,523 and repayments were received from the director of £47,535. Interest is being charged on the loan at 2.5%