IRIS Accounts Production v24.2.0.383 01313241 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013132412022-12-31013132412023-12-31013132412023-01-012023-12-31013132412021-12-31013132412022-01-012022-12-31013132412022-12-3101313241ns15:EnglandWales2023-01-012023-12-3101313241ns14:PoundSterling2023-01-012023-12-3101313241ns10:Director12023-01-012023-12-3101313241ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101313241ns10:SmallEntities2023-01-012023-12-3101313241ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3101313241ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3101313241ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101313241ns10:FullAccounts2023-01-012023-12-3101313241ns10:Director22023-01-012023-12-3101313241ns10:RegisteredOffice2023-01-012023-12-3101313241ns5:CurrentFinancialInstruments2023-12-3101313241ns5:CurrentFinancialInstruments2022-12-3101313241ns5:Non-currentFinancialInstruments2023-12-3101313241ns5:Non-currentFinancialInstruments2022-12-3101313241ns5:ShareCapital2023-12-3101313241ns5:ShareCapital2022-12-3101313241ns5:RetainedEarningsAccumulatedLosses2023-12-3101313241ns5:RetainedEarningsAccumulatedLosses2022-12-3101313241ns5:PlantMachinery2023-01-012023-12-3101313241ns5:MotorVehicles2023-01-012023-12-3101313241ns5:PlantMachinery2022-12-3101313241ns5:MotorVehicles2022-12-3101313241ns5:PlantMachinery2023-12-3101313241ns5:MotorVehicles2023-12-3101313241ns5:PlantMachinery2022-12-3101313241ns5:MotorVehicles2022-12-3101313241ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3101313241ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3101313241ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3101313241ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3101313241ns5:CostValuation2022-12-3101313241ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3101313241ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-31
REGISTERED NUMBER: 01313241 (England and Wales)















P.A. THORPE (VEHICLE COMPONENTS) LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2023






P.A. THORPE (VEHICLE COMPONENTS) LIMITED (Registered number: 01313241)






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


P.A. THORPE (VEHICLE COMPONENTS) LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs M F Thorpe
J M Bradley





REGISTERED OFFICE: Engine Shed Lane
Skipton
North Yorkshire
BD23 1UP





REGISTERED NUMBER: 01313241 (England and Wales)





ACCOUNTANTS: Maclean & Company
1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ

P.A. THORPE (VEHICLE COMPONENTS) LIMITED (Registered number: 01313241)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 383,302 404,147
Investments 5 3,846 3,846
387,148 407,993

CURRENT ASSETS
Stocks 915,237 854,376
Debtors 6 1,020,615 1,012,201
Cash at bank and in hand 3,964,891 3,750,731
5,900,743 5,617,308
CREDITORS
Amounts falling due within one year 7 644,450 801,676
NET CURRENT ASSETS 5,256,293 4,815,632
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,643,441

5,223,625

CREDITORS
Amounts falling due after more than one
year

8

15,474

26,882
NET ASSETS 5,627,967 5,196,743

CAPITAL AND RESERVES
Called up share capital 200,175 200,175
Retained earnings 5,427,792 4,996,568
SHAREHOLDERS' FUNDS 5,627,967 5,196,743

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.

P.A. THORPE (VEHICLE COMPONENTS) LIMITED (Registered number: 01313241)

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 Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mrs M F Thorpe - Director


P.A. THORPE (VEHICLE COMPONENTS) LIMITED (Registered number: 01313241)

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

1. STATUTORY INFORMATION

P.A. THORPE (VEHICLE COMPONENTS) 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & equipment - 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

P.A. THORPE (VEHICLE COMPONENTS) LIMITED (Registered number: 01313241)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates various defined contribution pension schemes, the assets of which are held separately from those of the company in independently administered funds. Contributions paid during the year are charged to the Profit and loss account in the year of payment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Plant & Motor
equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 597,185 160,467 757,652
Additions 47,159 - 47,159
At 31 December 2023 644,344 160,467 804,811
DEPRECIATION
At 1 January 2023 261,114 92,391 353,505
Charge for year 50,964 17,040 68,004
At 31 December 2023 312,078 109,431 421,509
NET BOOK VALUE
At 31 December 2023 332,266 51,036 383,302
At 31 December 2022 336,071 68,076 404,147

P.A. THORPE (VEHICLE COMPONENTS) LIMITED (Registered number: 01313241)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 124,772
Transfer to ownership (55,815 )
At 31 December 2023 68,957
DEPRECIATION
At 1 January 2023 59,387
Charge for year 11,355
Transfer to ownership (35,763 )
At 31 December 2023 34,979
NET BOOK VALUE
At 31 December 2023 33,978
At 31 December 2022 65,385

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 3,846
NET BOOK VALUE
At 31 December 2023 3,846
At 31 December 2022 3,846

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 987,164 984,309
Other debtors 33,451 27,892
1,020,615 1,012,201

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 11,408 42,019
Trade creditors 298,596 396,125
Taxation 334,446 363,532
644,450 801,676

P.A. THORPE (VEHICLE COMPONENTS) LIMITED (Registered number: 01313241)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 15,474 26,882

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 26,882 68,901

The hire purchase creditors are secured against the assets to which they relate.