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REGISTERED NUMBER: 05663953 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COUNTY TRACTOR SPARES LIMITED

COUNTY TRACTOR SPARES LIMITED (REGISTERED NUMBER: 05663953)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

COUNTY TRACTOR SPARES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: M Osborne





SECRETARY: M Osborne





REGISTERED OFFICE: 148 Commercial Road
Totton
Southampton
SO40 3AA





REGISTERED NUMBER: 05663953 (England and Wales)





ACCOUNTANTS: R A Vowles & Co
Chartered Accountants
148 Commercial Road
Totton
Southampton
Hampshire
S040 3AA

COUNTY TRACTOR SPARES LIMITED (REGISTERED NUMBER: 05663953)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 423 564
423 564

CURRENT ASSETS
Stocks 6 71,937 64,438
Debtors 7 53,774 65,255
Cash in hand - 3
125,711 129,696
CREDITORS
Amounts falling due within one year 8 65,858 66,000
NET CURRENT ASSETS 59,853 63,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,276

64,260

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 60,176 64,160
SHAREHOLDERS' FUNDS 60,276 64,260

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.

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 25 September 2024 and were signed by:




M Osborne - Director


COUNTY TRACTOR SPARES LIMITED (REGISTERED NUMBER: 05663953)

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

1. STATUTORY INFORMATION

County Tractor 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 represents net invoiced sales of goods, excluding value added tax. During the year the company exported goods to EEC Countries amounting to £115,000 (2022 - £13,641) and to non EEC countries £5,813 (2022 - £5,045).

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.

Patents and licences are being amortised evenly over their estimated useful life of four years.

Intangible assets
Trademark Patent - 25% cost.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 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.

3. EMPLOYEES AND DIRECTORS

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

COUNTY TRACTOR SPARES LIMITED (REGISTERED NUMBER: 05663953)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 7,324
AMORTISATION
At 1 January 2023
and 31 December 2023 7,324
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 4,601
DEPRECIATION
At 1 January 2023 4,037
Charge for year 141
At 31 December 2023 4,178
NET BOOK VALUE
At 31 December 2023 423
At 31 December 2022 564

6. STOCKS
2023 2022
£    £   
Stocks 71,937 64,438

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 41,326 49,385
Other debtors 1,250 -
Directors' loan accounts 10,832 15,832
Prepayments and accrued income 366 38
53,774 65,255

COUNTY TRACTOR SPARES LIMITED (REGISTERED NUMBER: 05663953)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 12,701 13,766
Trade creditors 18,229 29,232
Amounts owed to group undertakings 31,217 19,184
VAT 1,145 1,443
Other creditors 2,566 2,375
65,858 66,000

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 12,701 13,766

10. CALLED UP SHARE CAPITAL

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

11. RESERVES
Retained
earnings
£   

At 1 January 2023 64,160
Deficit for the year (3,984 )
At 31 December 2023 60,176

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
M Osborne
Balance outstanding at start of year 15,832 15,832
Amounts repaid (5,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,832 15,832

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
COUNTY TRACTOR SPARES LIMITED

The following reproduces the text of the report prepared for the director 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 Director 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 County Tractor Spares Limited for the year ended 31 December 2023 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of County Tractor Spares Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of County Tractor Spares Limited and state those matters that we have agreed to state to the director of County Tractor Spares Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than County Tractor Spares Limited and its director for our work or for this report.

It is your duty to ensure that County Tractor Spares 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 loss of County Tractor Spares Limited. You consider that County Tractor Spares 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 County Tractor Spares 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.

The evidence available to us was limited with regard to Stock as we were unable to verify all the amounts and items which comprised the stock figure.






R A Vowles & Co
Chartered Accountants
148 Commercial Road
Totton
Southampton
Hampshire
S040 3AA


25 September 2024