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REGISTERED NUMBER: 01549773 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

A.H. SPARES LIMITED

A.H. SPARES LIMITED (REGISTERED NUMBER: 01549773)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.H. SPARES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mr J D Hill
Mrs R A Kemsley
Mrs C Hill
Mr J Lee





REGISTERED OFFICE: 3 & 4 Pegasus House, Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW





REGISTERED NUMBER: 01549773 (England and Wales)





ACCOUNTANTS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Registered Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

A.H. SPARES LIMITED (REGISTERED NUMBER: 01549773)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 355,961 367,970
Investments 6 82,809 -
438,771 367,971

CURRENT ASSETS
Stocks 7 2,020,776 2,173,170
Debtors 8 410,173 680,550
Cash at bank and in hand 680,537 791,892
3,111,486 3,645,612
CREDITORS
Amounts falling due within one year 9 452,730 572,915
NET CURRENT ASSETS 2,658,756 3,072,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,097,527

3,440,668

CREDITORS
Amounts falling due after more than one
year

10

-

(125,000

)

PROVISIONS FOR LIABILITIES (12,762 ) (14,216 )
NET ASSETS 3,084,765 3,301,452

CAPITAL AND RESERVES
Called up share capital 21,240 21,240
Capital redemption reserve 12,750 12,750
Retained earnings 3,050,775 3,267,462
SHAREHOLDERS' FUNDS 3,084,765 3,301,452

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

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

A.H. SPARES LIMITED (REGISTERED NUMBER: 01549773)

BALANCE SHEET - continued
31 March 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 24 October 2024 and were signed on its behalf by:




Mrs R A Kemsley - Director



Mr J D Hill - Director


A.H. SPARES LIMITED (REGISTERED NUMBER: 01549773)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

A.H. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets - goodwill
Acquired goodwill has been written off in equal annual instalments over its estimated useful economic life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Long leasehold - Over the term of the lease
Fixtures and fittings - 16.67% on cost
Motor vehicles - 25% on cost

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.

A.H. SPARES LIMITED (REGISTERED NUMBER: 01549773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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.

Investments
Investments in classic cars are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 17,000
AMORTISATION
At 1 April 2023
and 31 March 2024 16,999
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 336,987 197,619 406,313 48,417 989,336
Additions 15,400 - 27,993 - 43,393
At 31 March 2024 352,387 197,619 434,306 48,417 1,032,729
DEPRECIATION
At 1 April 2023 70,017 168,590 341,999 40,760 621,366
Charge for year 6,265 3,461 41,301 4,375 55,402
At 31 March 2024 76,282 172,051 383,300 45,135 676,768
NET BOOK VALUE
At 31 March 2024 276,105 25,568 51,006 3,282 355,961
At 31 March 2023 266,970 29,029 64,314 7,657 367,970

A.H. SPARES LIMITED (REGISTERED NUMBER: 01549773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Classic cars 82,809 -

7. STOCKS
2024 2023
£    £   
Stocks 2,020,776 2,173,170

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 218,231 200,019
Amounts owed by group undertakings 121,625 374,125
Other debtors 70,317 106,406
410,173 680,550

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 50,000
Payments on account 19,847 20,237
Trade creditors 332,922 415,990
Taxation and social security 91,820 77,886
Other creditors 8,141 8,802
452,730 572,915

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 125,000

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 50,000 50,000

12. ULTIMATE CONTROLLING PARTY

The parent company of A.H. Spares Limited is Harbury (Holdings) Limited and its company number 08452030.