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Company Registration No. 10054200 (England and Wales)
Reckless Auto Parts Limited Unaudited accounts for the year ended 31 March 2023
Reckless Auto Parts Limited Unaudited accounts Contents
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Reckless Auto Parts Limited Company Information for the year ended 31 March 2023
Director
Mr C Reckless
Company Number
10054200 (England and Wales)
Registered Office
17 Broomfield Rise Nuneaton Warwickshire CV10 7DU England
Accountants
JS Accountancy Services Measham Business Centre 56 High Street/Queens Street Measham Derbyshire DE12 7HZ
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Reckless Auto Parts Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
1,013 
6,508 
Debtors
5,987 
1,552 
Cash at bank and in hand
5,989 
7,976 
12,989 
16,036 
Creditors: amounts falling due within one year
(16,242)
(13,308)
Net current (liabilities)/assets
(3,253)
2,728 
Net (liabilities)/assets
(3,253)
2,728 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(3,254)
2,727 
Shareholders' funds
(3,253)
2,728 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 December 2023 and were signed on its behalf by
Mr C Reckless Director Company Registration No. 10054200
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Reckless Auto Parts Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Reckless Auto Parts Limited is a private company, limited by shares, registered in England and Wales, registration number 10054200. The registered office is 17 Broomfield Rise, Nuneaton, Warwickshire, CV10 7DU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
740 
898 
Trade debtors
5,242 
654 
Other debtors
5 
- 
5,987 
1,552 
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Reckless Auto Parts Limited Notes to the Accounts for the year ended 31 March 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
144 
4,658 
Loans from directors
15,769 
8,321 
Accruals
329 
329 
16,242 
13,308 
6
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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