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REGISTERED NUMBER: 08489917 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

South West Truck and Trailer Parts
Limited

South West Truck and Trailer Parts
Limited (Registered number: 08489917)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

South West Truck and Trailer Parts
Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N T Ching
D Sandercock





REGISTERED OFFICE: Unit 3 Platts Yard
Quarry Crescent
Pennygillam Industrial Estate
Launceston
Cornwall
PL15 7PF





REGISTERED NUMBER: 08489917 (England and Wales)





ACCOUNTANTS: Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR

South West Truck and Trailer Parts
Limited (Registered number: 08489917)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,622 44,619

CURRENT ASSETS
Stocks 232,849 175,000
Debtors 5 96,838 150,801
Cash at bank and in hand 48,900 30,758
378,587 356,559
CREDITORS
Amounts falling due within one year 6 370,485 346,756
NET CURRENT ASSETS 8,102 9,803
TOTAL ASSETS LESS CURRENT LIABILITIES 48,724 54,422

CREDITORS
Amounts falling due after more than one
year

7

(40,396

)

(47,885

)

PROVISIONS FOR LIABILITIES (4,985 ) (5,482 )
NET ASSETS 3,343 1,055

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 3,341 1,053
SHAREHOLDERS' FUNDS 3,343 1,055

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

South West Truck and Trailer Parts
Limited (Registered number: 08489917)

Balance Sheet - continued
31 March 2024


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 11 September 2024 and were signed on its behalf by:




D Sandercock - Director



N T Ching - Director


South West Truck and Trailer Parts
Limited (Registered number: 08489917)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

South West Truck and Trailer Parts 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 etc - 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 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.

South West Truck and Trailer Parts
Limited (Registered number: 08489917)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 90,789
Additions 11,750
Disposals (6,950 )
At 31 March 2024 95,589
DEPRECIATION
At 1 April 2023 46,170
Charge for year 13,548
Eliminated on disposal (4,751 )
At 31 March 2024 54,967
NET BOOK VALUE
At 31 March 2024 40,622
At 31 March 2023 44,619

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 93,378 149,691
Other debtors 3,460 1,110
96,838 150,801

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 5,000 5,000
Hire purchase contracts (see note 8) 11,650 13,100
Trade creditors 187,489 149,557
Taxation and social security 16,129 10,898
Other creditors 150,217 168,201
370,485 346,756

South West Truck and Trailer Parts
Limited (Registered number: 08489917)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 29,259 34,815
Hire purchase contracts (see note 8) 11,137 13,070
40,396 47,885

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,259 14,815

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 11,650 13,100
Between one and five years 11,137 13,070
22,787 26,170

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 8,187 -
Between one and five years 32,750 -
In more than five years 9,552 -
50,489 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary 1 2 2

South West Truck and Trailer Parts
Limited (Registered number: 08489917)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. RELATED PARTY DISCLOSURES

During the year no dividends (2023 - £0) were paid to D Sandercock the director.

During the year, the company entered into the following transactions with related parties:


Transaction
Value
Transaction
Value
Balance owed
by/(owed to

)
Balance owed
by/(owed to

)

Year end
31/03/2024
Period end
31/03/2023
Year end
31/03/2024
Period
end31/03/2023
Launceston Truck Service Ltd £(105,539 ) £(65,359 ) £(116,210 ) £(144,081 )


As at 31 March the company owed the shareholder and director, D Sandercock, an amount of £33,498 (31 March 2023 £23,498). This loan is provided to the company at an interest rate of nil, and is repayable on demand.

11. ULTIMATE CONTROLLING PARTY

D Sandercock and N Ching by virtue of their shareholding and directorship, control the company.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
South West Truck and Trailer Parts
Limited

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 South West Truck and Trailer Parts Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet 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 South West Truck and Trailer Parts Limited, 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 South West Truck and Trailer Parts Limited and state those matters that we have agreed to state to the Board of Directors of South West Truck and Trailer Parts Limited, 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 South West Truck and Trailer Parts Limited 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 South West Truck and Trailer Parts Limited. You consider that South West Truck and Trailer Parts Limited 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 South West Truck and Trailer Parts Limited. 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.






Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR


16 September 2024