2023-01-192024-01-312024-01-31false14605381DISCOVERY 2 PARTS LTD2024-10-17iso4217:GBPxbrli:pure146053812023-01-19146053812024-01-31146053812023-01-192024-01-31146053812023-01-18146053812023-01-18146053812023-01-182023-01-1814605381bus:SmallEntities2023-01-192024-01-3114605381bus:AuditExempt-NoAccountantsReport2023-01-192024-01-3114605381bus:AbridgedAccounts2023-01-192024-01-3114605381bus:PrivateLimitedCompanyLtd2023-01-192024-01-3114605381core:WithinOneYear2024-01-3114605381core:AfterOneYear2024-01-3114605381core:WithinOneYear2023-01-1814605381core:AfterOneYear2023-01-1814605381core:ShareCapital2024-01-3114605381core:SharePremium2024-01-3114605381core:RevaluationReserve2024-01-3114605381core:OtherReservesSubtotal2024-01-3114605381core:RetainedEarningsAccumulatedLosses2024-01-3114605381core:ShareCapital2023-01-1814605381core:SharePremium2023-01-1814605381core:RevaluationReserve2023-01-1814605381core:OtherReservesSubtotal2023-01-1814605381core:RetainedEarningsAccumulatedLosses2023-01-1814605381core:LandBuildings2024-01-3114605381core:PlantMachinery2024-01-3114605381core:Vehicles2024-01-3114605381core:FurnitureFittings2024-01-3114605381core:OfficeEquipment2024-01-3114605381core:NetGoodwill2024-01-3114605381core:IntangibleAssetsOtherThanGoodwill2024-01-3114605381core:ListedExchangeTraded2024-01-3114605381core:UnlistedNon-exchangeTraded2024-01-3114605381core:LandBuildings2023-01-1814605381core:PlantMachinery2023-01-1814605381core:Vehicles2023-01-1814605381core:FurnitureFittings2023-01-1814605381core:OfficeEquipment2023-01-1814605381core:NetGoodwill2023-01-1814605381core:IntangibleAssetsOtherThanGoodwill2023-01-1814605381core:ListedExchangeTraded2023-01-1814605381core:UnlistedNon-exchangeTraded2023-01-1814605381core:LandBuildings2023-01-192024-01-3114605381core:PlantMachinery2023-01-192024-01-3114605381core:Vehicles2023-01-192024-01-3114605381core:FurnitureFittings2023-01-192024-01-3114605381core:OfficeEquipment2023-01-192024-01-3114605381core:NetGoodwill2023-01-192024-01-3114605381core:IntangibleAssetsOtherThanGoodwill2023-01-192024-01-3114605381core:ListedExchangeTraded2023-01-192024-01-3114605381core:UnlistedNon-exchangeTraded2023-01-192024-01-3114605381core:MoreThanFiveYears2023-01-192024-01-3114605381core:Non-currentFinancialInstruments2024-01-3114605381core:Non-currentFinancialInstruments2023-01-1814605381dpl:CostSales2023-01-192024-01-3114605381dpl:DistributionCosts2023-01-192024-01-3114605381core:LandBuildings2023-01-192024-01-3114605381core:PlantMachinery2023-01-192024-01-3114605381core:Vehicles2023-01-192024-01-3114605381core:FurnitureFittings2023-01-192024-01-3114605381core:OfficeEquipment2023-01-192024-01-3114605381dpl:AdministrativeExpenses2023-01-192024-01-3114605381core:NetGoodwill2023-01-192024-01-3114605381core:IntangibleAssetsOtherThanGoodwill2023-01-192024-01-3114605381dpl:GroupUndertakings2023-01-192024-01-3114605381dpl:ParticipatingInterests2023-01-192024-01-3114605381dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-192024-01-3114605381core:ListedExchangeTraded2023-01-192024-01-3114605381dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-192024-01-3114605381core:UnlistedNon-exchangeTraded2023-01-192024-01-3114605381dpl:CostSales2023-01-182023-01-1814605381dpl:DistributionCosts2023-01-182023-01-1814605381core:LandBuildings2023-01-182023-01-1814605381core:PlantMachinery2023-01-182023-01-1814605381core:Vehicles2023-01-182023-01-1814605381core:FurnitureFittings2023-01-182023-01-1814605381core:OfficeEquipment2023-01-182023-01-1814605381dpl:AdministrativeExpenses2023-01-182023-01-1814605381core:NetGoodwill2023-01-182023-01-1814605381core:IntangibleAssetsOtherThanGoodwill2023-01-182023-01-1814605381dpl:GroupUndertakings2023-01-182023-01-1814605381dpl:ParticipatingInterests2023-01-182023-01-1814605381dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-182023-01-1814605381core:ListedExchangeTraded2023-01-182023-01-1814605381dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-182023-01-1814605381core:UnlistedNon-exchangeTraded2023-01-182023-01-1814605381core:NetGoodwill2024-01-3114605381core:IntangibleAssetsOtherThanGoodwill2024-01-3114605381core:LandBuildings2024-01-3114605381core:PlantMachinery2024-01-3114605381core:Vehicles2024-01-3114605381core:FurnitureFittings2024-01-3114605381core:OfficeEquipment2024-01-3114605381core:AfterOneYear2024-01-3114605381core:WithinOneYear2024-01-3114605381core:ListedExchangeTraded2024-01-3114605381core:UnlistedNon-exchangeTraded2024-01-3114605381core:ShareCapital2024-01-3114605381core:SharePremium2024-01-3114605381core:RevaluationReserve2024-01-3114605381core:OtherReservesSubtotal2024-01-3114605381core:RetainedEarningsAccumulatedLosses2024-01-3114605381core:NetGoodwill2023-01-1814605381core:IntangibleAssetsOtherThanGoodwill2023-01-1814605381core:LandBuildings2023-01-1814605381core:PlantMachinery2023-01-1814605381core:Vehicles2023-01-1814605381core:FurnitureFittings2023-01-1814605381core:OfficeEquipment2023-01-1814605381core:AfterOneYear2023-01-1814605381core:WithinOneYear2023-01-1814605381core:ListedExchangeTraded2023-01-1814605381core:UnlistedNon-exchangeTraded2023-01-1814605381core:ShareCapital2023-01-1814605381core:SharePremium2023-01-1814605381core:RevaluationReserve2023-01-1814605381core:OtherReservesSubtotal2023-01-1814605381core:RetainedEarningsAccumulatedLosses2023-01-1814605381core:NetGoodwill2023-01-1814605381core:IntangibleAssetsOtherThanGoodwill2023-01-1814605381core:LandBuildings2023-01-1814605381core:PlantMachinery2023-01-1814605381core:Vehicles2023-01-1814605381core:FurnitureFittings2023-01-1814605381core:OfficeEquipment2023-01-1814605381core:AfterOneYear2023-01-1814605381core:WithinOneYear2023-01-1814605381core:ListedExchangeTraded2023-01-1814605381core:UnlistedNon-exchangeTraded2023-01-1814605381core:ShareCapital2023-01-1814605381core:SharePremium2023-01-1814605381core:RevaluationReserve2023-01-1814605381core:OtherReservesSubtotal2023-01-1814605381core:RetainedEarningsAccumulatedLosses2023-01-1814605381core:AfterOneYear2023-01-192024-01-3114605381core:WithinOneYear2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:CostValuation2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-01-192024-01-3114605381core:Non-currentFinancialInstrumentscore:CostValuation2024-01-3114605381core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-01-3114605381core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-01-3114605381core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-01-3114605381core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-01-3114605381core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-01-3114605381core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-01-3114605381core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-01-3114605381core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-01-3114605381core:Non-currentFinancialInstrumentscore:CostValuation2023-01-1814605381core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-01-1814605381core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-01-1814605381core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-01-1814605381core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-01-1814605381core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-01-1814605381core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-01-1814605381core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-01-1814605381core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-01-1814605381bus:Director12023-01-192024-01-31

DISCOVERY 2 PARTS LTD

Registered Number
14605381
(England and Wales)

Unaudited Financial Statements for the Period ended
31 January 2024

DISCOVERY 2 PARTS LTD
Company Information
for the period from 19 January 2023 to 31 January 2024

Director

Paul McGill

Registered Address

Unit 3, Uphall Farm Salmons Lane
Coggeshall
Colchester
CO6 1RY

Registered Number

14605381 (England and Wales)
DISCOVERY 2 PARTS LTD
Balance Sheet as at
31 January 2024

Notes

2024

£

£

Fixed assets
Tangible assets31,880
1,880
Current assets
Stocks22,379
Cash at bank and on hand481
22,860
Creditors amounts falling due within one year4(29,340)
Net current assets (liabilities)(6,480)
Total assets less current liabilities(4,600)
Net assets(4,600)
Capital and reserves
Called up share capital1
Profit and loss account(4,601)
Shareholders' funds(4,600)
The financial statements were approved and authorised for issue by the Director on 17 October 2024, and are signed on its behalf by:
Paul McGill
Director
Registered Company No. 14605381
DISCOVERY 2 PARTS LTD
Notes to the Financial Statements
for the period ended 31 January 2024

1.Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tangible fixed assets and depreciation
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment3
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognized immediately in profit or loss
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

2024
Average number of employees during the year1
3.Tangible fixed assets

Total

£
Cost or valuation
Additions2,450
At 31 January 242,450
Depreciation and impairment
Charge for year570
At 31 January 24570
Net book value
At 31 January 241,880
At 18 January 23-
4.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables1,277
Other creditors27,063
Accrued liabilities and deferred income1,000
Total29,340
5.Share capital
The company has issued share capital of 1 ordinary share of £1. The share was issued on formation of the company.