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REGISTERED NUMBER: 07806713 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WORSBRO MOTOR SPARES LIMITED

WORSBRO MOTOR SPARES LIMITED (REGISTERED NUMBER: 07806713)






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


WORSBRO MOTOR SPARES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A Kershaw
J Kershaw





REGISTERED OFFICE: 470-472 Doncaster Road
Barnsley
South Yorkshire
S70 3PW





REGISTERED NUMBER: 07806713 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

WORSBRO MOTOR SPARES LIMITED (REGISTERED NUMBER: 07806713)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,550 5,100
Tangible assets 5 174,063 133,172
176,613 138,272

CURRENT ASSETS
Stocks 6 61,800 57,500
Debtors 7 53,676 55,356
Cash at bank and in hand 127,203 243,343
242,679 356,199
CREDITORS
Amounts falling due within one year 8 123,650 161,053
NET CURRENT ASSETS 119,029 195,146
TOTAL ASSETS LESS CURRENT
LIABILITIES

295,642

333,418

CREDITORS
Amounts falling due after more than one
year

9

(16,799

)

(73,778

)

PROVISIONS FOR LIABILITIES 12 (11,856 ) (4,409 )
NET ASSETS 266,987 255,231

CAPITAL AND RESERVES
Called up share capital 13 110 110
Retained earnings 266,877 255,121
SHAREHOLDERS' FUNDS 266,987 255,231

WORSBRO MOTOR SPARES LIMITED (REGISTERED NUMBER: 07806713)

BALANCE SHEET - continued
31 DECEMBER 2023


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.

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 Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:




A Kershaw - Director



J Kershaw - Director


WORSBRO MOTOR SPARES LIMITED (REGISTERED NUMBER: 07806713)

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

1. STATUTORY INFORMATION

Worsbro Motor Spares 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, 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.
Short leasehold - 2% on cost
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 Profit & Loss Account and Retained Earnings, 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.

WORSBRO MOTOR SPARES LIMITED (REGISTERED NUMBER: 07806713)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023 24,900
Amortisation for year 2,550
At 31 December 2023 27,450
NET BOOK VALUE
At 31 December 2023 2,550
At 31 December 2022 5,100

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
COST
At 1 January 2023 106,146 9,000 8,363
Additions - - -
At 31 December 2023 106,146 9,000 8,363
DEPRECIATION
At 1 January 2023 - 3,037 5,182
Charge for year - 450 319
At 31 December 2023 - 3,487 5,501
NET BOOK VALUE
At 31 December 2023 106,146 5,513 2,862
At 31 December 2022 106,146 5,963 3,181

WORSBRO MOTOR SPARES LIMITED (REGISTERED NUMBER: 07806713)

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 34,680 4,003 162,192
Additions 50,000 358 50,358
At 31 December 2023 84,680 4,361 212,550
DEPRECIATION
At 1 January 2023 17,510 3,291 29,020
Charge for year 8,434 264 9,467
At 31 December 2023 25,944 3,555 38,487
NET BOOK VALUE
At 31 December 2023 58,736 806 174,063
At 31 December 2022 17,170 712 133,172

6. STOCKS
2023 2022
£    £   
Stocks 61,800 57,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,718 39,093
Prepayments 17,958 16,263
53,676 55,356

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 8,994 12,851
Trade creditors 18,285 20,525
Tax 7,474 30,981
Social security and other taxes 4,089 4,127
VAT 14,805 16,423
Other creditors 11 4
Directors' current accounts 62,902 69,622
Accrued expenses 7,090 6,520
123,650 161,053

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 16,799 73,778

WORSBRO MOTOR SPARES LIMITED (REGISTERED NUMBER: 07806713)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 30,461

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 8,994 12,851

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,994 12,851

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,805 30,466

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 30,461

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan - 50,955

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 11,856 4,409

Deferred
tax
£   
Balance at 1 January 2023 4,409
Provided during year 7,447
Balance at 31 December 2023 11,856

WORSBRO MOTOR SPARES LIMITED (REGISTERED NUMBER: 07806713)

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

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 ORDINARY A 1 100 100
10 ORDINARY B 1 10 10
110 110