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REGISTERED NUMBER: 04523010 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EXPRESS MOTOR COMPONENTS LIMITED

EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance sheet 1

Notes to the financial statements 3


EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,326 25,946

CURRENT ASSETS
Stocks 11,125 11,250
Debtors 5 44,925 40,114
Cash at bank and in hand 127,063 133,192
183,113 184,556
CREDITORS
Amounts falling due within one year 6 (38,100 ) (66,762 )
NET CURRENT ASSETS 145,013 117,794
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,339

143,740

CREDITORS
Amounts falling due after more than one
year

7

-

(5,092

)
NET ASSETS 164,339 138,648

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 164,337 138,646
SHAREHOLDERS' FUNDS 164,339 138,648

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 director acknowledges his 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.

EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

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 director and authorised for issue on 12 September 2024 and were signed by:





G Harper - Director


EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Express Motor Components Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04523010

Registered office: 22 Ryeburn Drive
Bromley Cross
Bolton
Lancashire
BL2 3FP

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.
Fixtures and fittings - 15% 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.

Leased assets
Assets held under finance lease and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 7,444 33,750 41,194
DEPRECIATION
At 1 January 2023 6,283 8,965 15,248
Charge for year 174 6,446 6,620
At 31 December 2023 6,457 15,411 21,868
NET BOOK VALUE
At 31 December 2023 987 18,339 19,326
At 31 December 2022 1,161 24,785 25,946

The net book value of motor vehicles comprises assets held under finance leases. The amount of depreciation in respect of such assets amounted to £6,446 (2022 £8,262) for the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 44,925 40,114

All amounts show under debtors fall due for payment within one year.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,098 5,555
Trade creditors 7,769 9,181
Taxation and social security 19,910 11,808
Other creditors 5,323 40,218
38,100 66,762

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 5,092

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 5,098 10,647

EXPRESS MOTOR COMPONENTS LIMITED (REGISTERED NUMBER: 04523010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. RELATED PARTY DISCLOSURES

Controlling party
G Harper, together with members of his close family, controls the company by virtue of a controlling interest of 100% of the issued ordinary capital.