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REGISTERED NUMBER: 07126744 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Secondhandracking.com Limited

Secondhandracking.com Limited (Registered number: 07126744)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Secondhandracking.com Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P Gobbi
Mrs M Gobbi
C Williams





REGISTERED OFFICE: West End Approach
Morley
Leeds
West Yorkshire
LS27 0NB





REGISTERED NUMBER: 07126744 (England and Wales)





ACCOUNTANTS: KJA Kilner Johnson Ltd
Network House
Stubs Beck Lane
Cleckheaton
BD19 4TT

Secondhandracking.com Limited (Registered number: 07126744)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,800 21,600
Tangible assets 5 101,773 15,139
121,573 36,739

CURRENT ASSETS
Stocks 209,468 108,835
Debtors 6 51,278 290,000
Cash at bank and in hand 449,040 336,522
709,786 735,357
CREDITORS
Amounts falling due within one year 7 252,503 320,098
NET CURRENT ASSETS 457,283 415,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

578,856

451,998

CREDITORS
Amounts falling due after more than one
year

8

(116,757

)

(114,145

)

PROVISIONS FOR LIABILITIES (25,443 ) (3,785 )
NET ASSETS 436,656 334,068

CAPITAL AND RESERVES
Called up share capital 2,938 2,938
Capital redemption reserve 129 129
Retained earnings 433,589 331,001
436,656 334,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Secondhandracking.com Limited (Registered number: 07126744)

Balance Sheet - continued
31 January 2024


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 13 June 2024 and were signed on its behalf by:





P Gobbi - Director


Secondhandracking.com Limited (Registered number: 07126744)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Secondhandracking.com 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.

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 twenty two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% 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.

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.

Secondhandracking.com Limited (Registered number: 07126744)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 February 2023
and 31 January 2024 39,600
AMORTISATION
At 1 February 2023 18,000
Amortisation for year 1,800
At 31 January 2024 19,800
NET BOOK VALUE
At 31 January 2024 19,800
At 31 January 2023 21,600

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 27,064 14,500 1,700 43,264
Additions - 106,324 - 106,324
At 31 January 2024 27,064 120,824 1,700 149,588
DEPRECIATION
At 1 February 2023 22,594 4,078 1,453 28,125
Charge for year 671 18,957 62 19,690
At 31 January 2024 23,265 23,035 1,515 47,815
NET BOOK VALUE
At 31 January 2024 3,799 97,789 185 101,773
At 31 January 2023 4,470 10,422 247 15,139

Secondhandracking.com Limited (Registered number: 07126744)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 35,140 106,237
Amounts owed by participating interests 15,358 183,763
Other debtors 780 -
51,278 290,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 51,812 46,854
Hire purchase contracts 15,188 -
Trade creditors 32,272 4,150
Amounts owed to participating interests 111,744 22,876
Taxation and social security 35,973 157,414
Other creditors 5,514 88,804
252,503 320,098

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 62,333 114,145
Hire purchase contracts 54,424 -
116,757 114,145