IRIS Accounts Production v24.2.0.383 08822875 director 1.1.23 31.12.23 31.12.23 5/8/2024 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088228752022-12-31088228752023-12-31088228752023-01-012023-12-31088228752021-12-31088228752022-01-012022-12-31088228752022-12-3108822875ns15:EnglandWales2023-01-012023-12-3108822875ns14:PoundSterling2023-01-012023-12-3108822875ns10:Director12023-01-012023-12-3108822875ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3108822875ns10:SmallEntities2023-01-012023-12-3108822875ns10:Audited2023-01-012023-12-3108822875ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3108822875ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108822875ns10:FullAccounts2023-01-012023-12-3108822875ns10:OrdinaryShareClass12023-01-012023-12-3108822875ns10:RegisteredOffice2023-01-012023-12-3108822875ns5:CurrentFinancialInstruments2023-12-3108822875ns5:CurrentFinancialInstruments2022-12-3108822875ns5:Non-currentFinancialInstruments2023-12-3108822875ns5:Non-currentFinancialInstruments2022-12-3108822875ns5:ShareCapital2023-12-3108822875ns5:ShareCapital2022-12-3108822875ns5:RetainedEarningsAccumulatedLosses2023-12-3108822875ns5:RetainedEarningsAccumulatedLosses2022-12-3108822875ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3108822875ns5:PlantMachinery2023-01-012023-12-3108822875ns5:FurnitureFittings2023-01-012023-12-3108822875ns5:MotorVehicles2023-01-012023-12-3108822875ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3108822875ns5:PlantMachinery2022-12-3108822875ns5:FurnitureFittings2022-12-3108822875ns5:MotorVehicles2022-12-3108822875ns5:ShortLeaseholdAssetsns5:LandBuildings2023-12-3108822875ns5:PlantMachinery2023-12-3108822875ns5:FurnitureFittings2023-12-3108822875ns5:MotorVehicles2023-12-3108822875ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3108822875ns5:PlantMachinery2022-12-3108822875ns5:FurnitureFittings2022-12-3108822875ns5:MotorVehicles2022-12-3108822875ns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3108822875ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3108822875ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3108822875ns5:Secured2023-12-3108822875ns5:Secured2022-12-3108822875ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 08822875 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

UK Truckparts Limited

UK Truckparts Limited (Registered number: 08822875)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


UK Truckparts Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr G Culora





REGISTERED OFFICE: 147a High Street
Waltham Cross
Hertfordshire
EN8 7AP





REGISTERED NUMBER: 08822875 (England and Wales)





AUDITORS: Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

UK Truckparts Limited (Registered number: 08822875)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 244,826 99,275

CURRENT ASSETS
Stocks 798,312 680,610
Debtors 5 2,727,145 2,446,406
Cash at bank 177,700 75,078
3,703,157 3,202,094
CREDITORS
Amounts falling due within one year 6 1,648,696 1,306,027
NET CURRENT ASSETS 2,054,461 1,896,067
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,299,287

1,995,342

CREDITORS
Amounts falling due after more than
one year

7

(614,693

)

(685,882

)

PROVISIONS FOR LIABILITIES (60,426 ) (18,231 )
NET ASSETS 1,624,168 1,291,229

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,624,068 1,291,129
SHAREHOLDERS' FUNDS 1,624,168 1,291,229

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:





Mr G Culora - Director


UK Truckparts Limited (Registered number: 08822875)

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

1. STATUTORY INFORMATION

UK Truckparts 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Short leasehold - over lease term
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income 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 statement of financial position date.


UK Truckparts Limited (Registered number: 08822875)

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

2. ACCOUNTING POLICIES - continued
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 yearyear end and that are expected to apply to the reversal of the timing difference.

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 27 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 10,245 9,799 6,690 237,142 263,876
Additions - - - 180,365 180,365
Disposals - - - (13,850 ) (13,850 )
At 31 December 2023 10,245 9,799 6,690 403,657 430,391
DEPRECIATION
At 1 January 2023 10,245 7,683 6,133 140,540 164,601
Charge for year - 530 139 33,378 34,047
Eliminated on disposal - - - (13,083 ) (13,083 )
At 31 December 2023 10,245 8,213 6,272 160,835 185,565
NET BOOK VALUE
At 31 December 2023 - 1,586 418 242,822 244,826
At 31 December 2022 - 2,116 557 96,602 99,275

Included within the carrying value of tangible fixed assets are assets held under finance leases or hire purchase agreements amounting to £217,016 (2022: £59,528)

UK Truckparts Limited (Registered number: 08822875)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 621,939 566,475
Amounts owed by group undertakings 2,050,296 1,851,177
Other debtors 54,910 28,754
2,727,145 2,446,406

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 90,909 90,909
Hire purchase contracts 39,906 13,030
Trade creditors 968,746 814,149
Taxation and social security 170,253 119,099
Other creditors 378,882 268,840
1,648,696 1,306,027

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 219,697 310,606
Hire purchase contracts 170,185 57,483
Other creditors 224,811 317,793
614,693 685,882

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 310,606 401,515
Invoice discounting 231,190 121,316
541,796 522,831

There is a fixed and floating charge over the assets held by Santander UK PLC dated 16 June 2021 in respect of the invoice discounting finance. Charge code 0882 2875 0004.

In addition, the company has granted a debenture in favour of Santander UK PLC dated 28 May 2021, with a fixed and floating charge over the assets not already covered by the invoice discounting finance granted above. Charge code 0882 2875 0003

UK Truckparts Limited (Registered number: 08822875)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Iain McMurray ACA (Senior Statutory Auditor)
for and on behalf of Thickbroom Coventry

11. ULTIMATE CONTROLLING PARTY

The controlling party is UK Truckcentre Limited, company number 12152853.

Group accounts can be obtained by request at the registered office:
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP