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REGISTERED NUMBER: 07797365 (England and Wales)















Financial Statements for the Year Ended 31st October 2023

for

Pro Parts (Kent) Limited

Pro Parts (Kent) Limited (Registered number: 07797365)

Contents of the Financial Statements
for the year ended 31st October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pro Parts (Kent) Limited

Company Information
for the year ended 31st October 2023







DIRECTORS: P Burton
M Burton





REGISTERED OFFICE: 1-3 Manor Road
Chatham
Kent
ME4 6AE





REGISTERED NUMBER: 07797365 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

Pro Parts (Kent) Limited (Registered number: 07797365)

Balance Sheet
31st October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,638 39,469

CURRENT ASSETS
Stocks 335,790 396,993
Debtors 5 509,411 535,800
Cash at bank 168,568 165,307
1,013,769 1,098,100
CREDITORS
Amounts falling due within one year 6 772,469 758,769
NET CURRENT ASSETS 241,300 339,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

280,938

378,800

CREDITORS
Amounts falling due after more than one
year

7

(138,849

)

(200,863

)

PROVISIONS FOR LIABILITIES 9 (1,780 ) (1,780 )
NET ASSETS 140,309 176,157

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 140,209 176,057
SHAREHOLDERS' FUNDS 140,309 176,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

Pro Parts (Kent) Limited (Registered number: 07797365)

Balance Sheet - continued
31st October 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 12th July 2024 and were signed on its behalf by:




P Burton - Director



M Burton - Director


Pro Parts (Kent) Limited (Registered number: 07797365)

Notes to the Financial Statements
for the year ended 31st October 2023


1. STATUTORY INFORMATION

Pro Parts (Kent) 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.

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.

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

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

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.

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 makes payments into a defined pension scheme and they are written off to the profit and loss account in the year to which they relate.

Pro Parts (Kent) Limited (Registered number: 07797365)

Notes to the Financial Statements - continued
for the year ended 31st October 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st November 2022 166,321 94,570 260,891
Disposals - (17,278 ) (17,278 )
At 31st October 2023 166,321 77,292 243,613
DEPRECIATION
At 1st November 2022 150,371 71,051 221,422
Charge for year 3,987 9,223 13,210
Eliminated on disposal - (30,657 ) (30,657 )
At 31st October 2023 154,358 49,617 203,975
NET BOOK VALUE
At 31st October 2023 11,963 27,675 39,638
At 31st October 2022 15,950 23,519 39,469

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 509,411 535,800

Trade debtors in the sum of £509,411 (2022: £535,800) were subject to a factoring agreement.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 629,160 613,961
Trade creditors 11,093 43,257
Taxation and social security 95,015 97,838
Other creditors 37,201 3,713
772,469 758,769

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 138,849 200,863

Pro Parts (Kent) Limited (Registered number: 07797365)

Notes to the Financial Statements - continued
for the year ended 31st October 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 497,969 482,570
Bank loans 270,040 332,254
768,009 814,824

The overdrafts consist of a factoring agreement with a fixed charge over book debts and a floating charge over all other assets.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,780 1,780

Deferred
tax
£   
Balance at 1st November 2022 1,780
Balance at 31st October 2023 1,780