IRIS Accounts Production v24.1.9.2 06249413 Board of Directors Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh062494132022-12-31062494132023-12-31062494132023-01-012023-12-31062494132021-12-31062494132022-01-012022-12-31062494132022-12-3106249413ns15:EnglandWales2023-01-012023-12-3106249413ns14:PoundSterling2023-01-012023-12-3106249413ns10:Director12023-01-012023-12-3106249413ns10:Director22023-01-012023-12-3106249413ns10:Director32023-01-012023-12-3106249413ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106249413ns10:SmallEntities2023-01-012023-12-3106249413ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3106249413ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106249413ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106249413ns10:FullAccounts2023-01-012023-12-310624941312023-01-012023-12-3106249413ns10:CompanySecretary12023-01-012023-12-3106249413ns10:RegisteredOffice2023-01-012023-12-3106249413ns5:CurrentFinancialInstruments2023-12-3106249413ns5:CurrentFinancialInstruments2022-12-3106249413ns5:ShareCapital2023-12-3106249413ns5:ShareCapital2022-12-3106249413ns5:RetainedEarningsAccumulatedLosses2023-12-3106249413ns5:RetainedEarningsAccumulatedLosses2022-12-3106249413ns5:NetGoodwill2023-01-012023-12-3106249413ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106249413ns5:LeaseholdImprovements2023-01-012023-12-3106249413ns5:PlantMachinery2023-01-012023-12-3106249413ns5:FurnitureFittings2023-01-012023-12-3106249413ns5:MotorVehicles2023-01-012023-12-3106249413ns5:ComputerEquipment2023-01-012023-12-3106249413ns5:NetGoodwill2022-12-3106249413ns5:NetGoodwill2023-12-3106249413ns5:NetGoodwill2022-12-3106249413ns5:LeaseholdImprovements2022-12-3106249413ns5:PlantMachinery2022-12-3106249413ns5:FurnitureFittings2022-12-3106249413ns5:LeaseholdImprovements2023-12-3106249413ns5:PlantMachinery2023-12-3106249413ns5:FurnitureFittings2023-12-3106249413ns5:LeaseholdImprovements2022-12-3106249413ns5:PlantMachinery2022-12-3106249413ns5:FurnitureFittings2022-12-3106249413ns5:MotorVehicles2022-12-3106249413ns5:ComputerEquipment2022-12-3106249413ns5:MotorVehicles2023-12-3106249413ns5:ComputerEquipment2023-12-3106249413ns5:MotorVehicles2022-12-3106249413ns5:ComputerEquipment2022-12-3106249413ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106249413ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 06249413 (England and Wales)











Newtown Motor Parts Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023






Newtown Motor Parts Ltd (Registered number: 06249413)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

Newtown Motor Parts Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Fish
R D Fish
Mrs E C Griffiths





SECRETARY: Mrs E C Griffiths





REGISTERED OFFICE: 47 Weeping Cross Lane
Ludlow
SHROPSHIRE
SY8 1JH





REGISTERED NUMBER: 06249413 (England and Wales)





ACCOUNTANTS: Dyke Ruscoe & Hayes Ltd
Chartered Certified Accountants
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ

Newtown Motor Parts Ltd (Registered number: 06249413)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,500 27,000
Tangible assets 5 161,986 98,034
184,486 125,034

CURRENT ASSETS
Stocks 329,000 511,255
Debtors 6 691,924 524,391
Cash at bank and in hand 959,443 755,691
1,980,367 1,791,337
CREDITORS
Amounts falling due within one year 7 563,890 585,153
NET CURRENT ASSETS 1,416,477 1,206,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,600,963

1,331,218

PROVISIONS FOR LIABILITIES 39,644 23,637
NET ASSETS 1,561,319 1,307,581

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,561,219 1,307,481
SHAREHOLDERS' FUNDS 1,561,319 1,307,581

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

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

Newtown Motor Parts Ltd (Registered number: 06249413)

Balance Sheet - continued
31 December 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 31 July 2024 and were signed on its behalf by:




R Fish - Director R D Fish - Director




Mrs E C Griffiths - Director


Newtown Motor Parts Ltd (Registered number: 06249413)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Newtown Motor Parts 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

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.

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 - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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.

Newtown Motor Parts Ltd (Registered number: 06249413)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 20 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 90,000
AMORTISATION
At 1 January 2023 63,000
Amortisation for year 4,500
At 31 December 2023 67,500
NET BOOK VALUE
At 31 December 2023 22,500
At 31 December 2022 27,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 3,629 9,337 67,650
Additions - - -
Disposals - - -
At 31 December 2023 3,629 9,337 67,650
DEPRECIATION
At 1 January 2023 145 4,971 25,773
Charge for year 73 873 4,188
Eliminated on disposal - - -
At 31 December 2023 218 5,844 29,961
NET BOOK VALUE
At 31 December 2023 3,411 3,493 37,689
At 31 December 2022 3,484 4,366 41,877

Newtown Motor Parts Ltd (Registered number: 06249413)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 99,183 24,639 204,438
Additions 101,410 - 101,410
Disposals (53,022 ) - (53,022 )
At 31 December 2023 147,571 24,639 252,826
DEPRECIATION
At 1 January 2023 52,680 22,835 106,404
Charge for year 11,581 1,025 17,740
Eliminated on disposal (33,304 ) - (33,304 )
At 31 December 2023 30,957 23,860 90,840
NET BOOK VALUE
At 31 December 2023 116,614 779 161,986
At 31 December 2022 46,503 1,804 98,034

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 666,165 507,817
Other debtors 12,859 6,721
Prepayments 12,900 9,853
691,924 524,391

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 275,721 332,546
Tax 73,826 61,968
Social security and other taxes 11,011 7,265
VAT 26,011 25,064
Other creditors 44,842 55,191
Directors' current accounts 104,621 96,295
Accrued expenses 27,858 6,824
563,890 585,153

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Interest has been charged to the company by the directors on the loans included within creditors. The interest has been charged at a market rate of 12%.

Newtown Motor Parts Ltd (Registered number: 06249413)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RELATED PARTY DISCLOSURES

Newtown Motor Parts Ltd pays rent to entities in which the directors have an interest of £16,117.00 (2022: £15,177.00)

Newtown Motor Parts Ltd has paid rent to the directors in the year of £19,883.00 (2022: £18,882.50)

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Newtown Motor Parts Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newtown Motor Parts Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Newtown Motor Parts Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newtown Motor Parts Ltd and state those matters that we have agreed to state to the Board of Directors of Newtown Motor Parts Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Newtown Motor Parts Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Newtown Motor Parts Ltd. You consider that Newtown Motor Parts Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Newtown Motor Parts Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Dyke Ruscoe & Hayes Ltd
Chartered Certified Accountants
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ


31 July 2024