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REGISTERED NUMBER: 09151472 (England and Wales)











Rheidol Motor Parts Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023






Rheidol Motor Parts Ltd (Registered number: 09151472)






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 7

Rheidol Motor Parts Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Fish
Mrs R A 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: 09151472 (England and Wales)





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

Rheidol Motor Parts Ltd (Registered number: 09151472)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 86,709 97,066
Tangible assets 5 44,639 25,126
131,348 122,192

CURRENT ASSETS
Stocks 348,657 339,241
Debtors 6 520,893 310,759
Cash at bank and in hand 138,545 193,111
1,008,095 843,111
CREDITORS
Amounts falling due within one year 7 513,181 522,684
NET CURRENT ASSETS 494,914 320,427
TOTAL ASSETS LESS CURRENT
LIABILITIES

626,262

442,619

PROVISIONS FOR LIABILITIES 11,160 6,281
NET ASSETS 615,102 436,338

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 615,002 436,238
SHAREHOLDERS' FUNDS 615,102 436,338

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.

Rheidol Motor Parts Ltd (Registered number: 09151472)

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 Mrs R A Fish - Director




R D Fish - Director Mrs E C Griffiths - Director


Rheidol Motor Parts Ltd (Registered number: 09151472)

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

1. STATUTORY INFORMATION

Rheidol 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 2022, is being amortised evenly over its estimated useful life of ten 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.
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.

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 16 (2022 - 14 ) .

Rheidol Motor Parts Ltd (Registered number: 09151472)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 103,563
AMORTISATION
At 1 January 2023 6,497
Charge for year 10,357
At 31 December 2023 16,854
NET BOOK VALUE
At 31 December 2023 86,709
At 31 December 2022 97,066

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 3,045 3,574 49,510 10,514 66,643
Additions - - 36,161 - 36,161
Disposals - - (27,444 ) - (27,444 )
At 31 December 2023 3,045 3,574 58,227 10,514 75,360
DEPRECIATION
At 1 January 2023 2,534 1,680 27,980 9,323 41,517
Charge for year 102 189 5,929 751 6,971
Eliminated on disposal - - (17,767 ) - (17,767 )
At 31 December 2023 2,636 1,869 16,142 10,074 30,721
NET BOOK VALUE
At 31 December 2023 409 1,705 42,085 440 44,639
At 31 December 2022 511 1,894 21,530 1,191 25,126

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 508,358 305,822
Other debtors 5,653 -
Prepayments 6,882 4,937
520,893 310,759

Rheidol Motor Parts Ltd (Registered number: 09151472)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 234,916 206,482
Tax 53,735 11,017
Social security and other taxes 9,259 7,646
VAT 12,636 10,764
Other creditors 197,716 281,856
Directors' current accounts 1,389 1,389
Accrued expenses 3,530 3,530
513,181 522,684

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No repayment terms have been set for the loan included within creditors and no interest has been charged by the directors.

9. RELATED PARTY DISCLOSURES

Rheidol Motor Parts Ltd has paid rent to the directors in the year of £24,000 (2022: £24,000)

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Rheidol 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 Rheidol 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 Rheidol 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 Rheidol Motor Parts Ltd and state those matters that we have agreed to state to the Board of Directors of Rheidol 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 Rheidol 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 Rheidol Motor Parts Ltd. You consider that Rheidol 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 Rheidol 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