Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3179982023-01-01falsethe trading of recycled autoparts1112truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01001587 2023-01-01 2023-12-31 01001587 2022-01-01 2022-12-31 01001587 2023-12-31 01001587 2022-12-31 01001587 c:Director1 2023-01-01 2023-12-31 01001587 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 01001587 d:Buildings d:LongLeaseholdAssets 2023-12-31 01001587 d:Buildings d:LongLeaseholdAssets 2022-12-31 01001587 d:PlantMachinery 2023-01-01 2023-12-31 01001587 d:PlantMachinery 2023-12-31 01001587 d:PlantMachinery 2022-12-31 01001587 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01001587 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01001587 d:MotorVehicles 2023-01-01 2023-12-31 01001587 d:MotorVehicles 2023-12-31 01001587 d:MotorVehicles 2022-12-31 01001587 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01001587 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01001587 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01001587 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01001587 d:CurrentFinancialInstruments 2023-12-31 01001587 d:CurrentFinancialInstruments 2022-12-31 01001587 d:Non-currentFinancialInstruments 2023-12-31 01001587 d:Non-currentFinancialInstruments 2022-12-31 01001587 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01001587 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01001587 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01001587 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 01001587 d:ShareCapital 2023-12-31 01001587 d:ShareCapital 2022-12-31 01001587 d:RetainedEarningsAccumulatedLosses 2023-12-31 01001587 d:RetainedEarningsAccumulatedLosses 2022-12-31 01001587 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01001587 c:OrdinaryShareClass1 2023-12-31 01001587 c:OrdinaryShareClass1 2022-12-31 01001587 c:FRS102 2023-01-01 2023-12-31 01001587 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01001587 c:FullAccounts 2023-01-01 2023-12-31 01001587 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01001587 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01001587









CHARLTON RECYCLED AUTOPARTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CHARLTON RECYCLED AUTOPARTS LIMITED
REGISTERED NUMBER: 01001587

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
94,369
123,013

CURRENT ASSETS
  

Stocks
  
345,213
336,413

Debtors: amounts falling due within one year
 5 
2,130
5,756

Cash at bank and in hand
  
91
3,253

  
347,434
345,422

Creditors: amounts falling due within one year
 6 
(672,788)
(614,240)

NET CURRENT LIABILITIES
  
 
 
(325,354)
 
 
(268,818)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(230,985)
(145,805)

Creditors: amounts falling due after more than one year
 7 
(83,603)
(107,852)

  

NET LIABILITIES
  
(314,588)
(253,657)


CAPITAL AND RESERVES
  

Called up share capital 
 8 
8,000
8,000

Profit and loss account
  
(322,588)
(261,657)

  
(314,588)
(253,657)



The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
CHARLTON RECYCLED AUTOPARTS LIMITED
REGISTERED NUMBER: 01001587
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr T G Charlton
Director

Date: 11 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CHARLTON RECYCLED AUTOPARTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Charlton Recycled Autoparts Limited is a private company limited by shares and incorporated in England and Wales. Its registered office address is Gravel Pit Hill, Thriplow, Duxford, SG8 7HZ.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Company incurred a loss for the financial period and had net liabilities of £314,588 as at 31 December 2023 (2022 - £253,657). The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from its shareholders and lenders to provide sufficient funds to enable it to meet its liabilities as they fall due.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of vehicle, scrap and parts sales during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised as the fair value of the consideration received or receivable.
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- The Company has transferred the significant risks and rewards of ownership to the buyer;
- The Company retains neither continuing managerial involvement to the degree usually associated    with ownership nor effective control over the goods sold;
- The amount of turnover can be measured reliably;
- It is probable that the Company will receive the consideration due under the transaction; and
- The costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
CHARLTON RECYCLED AUTOPARTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences.  Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
CHARLTON RECYCLED AUTOPARTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.7
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Straight line over estimated life (7 years)
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 11 (2022 - 12).

Page 5

 
CHARLTON RECYCLED AUTOPARTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


TANGIBLE FIXED ASSETS





Long-term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



COST OR VALUATION


At 1 January 2023
59,005
322,752
137,097
518,854



At 31 December 2023

59,005
322,752
137,097
518,854



DEPRECIATION


At 1 January 2023
30,588
292,411
72,842
395,841


Charge for the year on owned assets
7,998
4,537
(3,759)
8,776


Charge for the year on financed assets
-
3,049
16,819
19,868



At 31 December 2023

38,586
299,997
85,902
424,485



NET BOOK VALUE



At 31 December 2023
20,419
22,755
51,195
94,369



At 31 December 2022
28,417
30,341
64,255
123,013


5.


DEBTORS

2023
2022
£
£


Trade debtors
1,467
4,973

Other debtors
-
111

Prepayments and accrued income
663
672

2,130
5,756


Page 6

 
CHARLTON RECYCLED AUTOPARTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
13
13

Bank loans
46,248
29,573

Other loans
31,878
21,490

Trade creditors
66,847
55,863

Other taxation and social security
197,317
189,739

Obligations under finance lease and hire purchase contracts
25,714
27,719

Other creditors
275,464
260,815

Accruals and deferred income
29,307
29,028

672,788
614,240


Other creditors includes contributions of £1,055 (2022 - £1,242) payable to the Company's defined contribution pension scheme at the balance sheet date.
 
Obligations under finance leases and hire purchase contracts are secured on the assets concerned.
Included in bank loans are Government backed 'bounce back' loans £15,555 (2022: £15,555). These loans are 100% guaranteed by the Government and there will be no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest will be charged at 2.5% per annum.
Included in bank loans is a busines cash advanced agreement £27,450 (2022: £10,775), the repayment terms are 18% of sales made using the lenders product.
Included in bank loans is an fixed sum business loan £3,243 (2022: £3,243), interest is being charged at 13.1% per annum, the loan repayment terms are 37 months. 


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
45,620
64,416

Net obligations under finance leases and hire purchase contracts
37,983
43,436

83,603
107,852


Obligations under finance leases and hire purchase contracts are secured on the assets concerned.
Bank loans represent Government backed 'bounce back' loans £43,997 (2022: £59,551). These loans are 100% guaranteed by the Government and there will be no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest will be charged at 2.5% per annum.
Included in bank loans is an fixed sum business loan £1,623 (2022: £4,865), interest is being charged at 13.1% per annum, the loan repayment terms are 37 months. 

Page 7

 
CHARLTON RECYCLED AUTOPARTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



8,000 (2022 - 8,000) Ordinary shares of £1 each
8,000
8,000


 
Page 8