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REGISTERED NUMBER: 02009629 (England and Wales)










FINANCIAL STATEMENTS

FOR THE PERIOD

1 AUGUST 2023 TO 31 JANUARY 2024

FOR

EASTERN AUTO SPARES(IPSWICH HOLDINGS)LTD

EASTERN AUTO SPARES(IPSWICH HOLDINGS)LTD (REGISTERED NUMBER: 02009629)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 August 2023 to 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EASTERN AUTO SPARES(IPSWICH HOLDINGS)LTD

COMPANY INFORMATION
for the period 1 August 2023 to 31 January 2024







DIRECTOR: R J Shortis



REGISTERED OFFICE: 186-200 Salhouse Road
Norwich
Norfolk
NR7 9AH



REGISTERED NUMBER: 02009629 (England and Wales)



AUDITORS: Sexty & Co
Chartered Certified Accountants
& Statutory Auditor
124 Thorpe Road
Norwich
Norfolk
NR1 1RS



SOLICITORS: Howes Percival
Flint Buildings
1 Bedding Lane
Norwich
Norfolk
NR3 1RG

EASTERN AUTO SPARES(IPSWICH HOLDINGS)LTD (REGISTERED NUMBER: 02009629)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,341 63,433
Investments 5 13,333 13,333
76,674 76,766

CURRENT ASSETS
Debtors 6 4,021 -
Cash at bank 148,688 143,984
152,709 143,984
CREDITORS
Amounts falling due within one year 7 92,619 92,232
NET CURRENT ASSETS 60,090 51,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,764

128,518

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,233 1,233
Retained earnings 135,431 127,185
136,764 128,518

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 October 2024 and were signed by:





R J Shortis - Director


EASTERN AUTO SPARES(IPSWICH HOLDINGS)LTD (REGISTERED NUMBER: 02009629)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 August 2023 to 31 January 2024

1. STATUTORY INFORMATION

Eastern Auto Spares(Ipswich Holdings)Ltd 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.

The financial statements are presented in pounds sterling and are rounded to the nearest pound.

Preparation of consolidated financial statements
The financial statements contain information about Eastern Auto Spares(Ipswich Holdings)Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, K J Shortis Limited, Salhouse Road, Norwich, Norfolk, NR7 9AH.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Plant and machinery etc - 15% on reducing balance

EASTERN AUTO SPARES(IPSWICH HOLDINGS)LTD (REGISTERED NUMBER: 02009629)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 August 2023 to 31 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the period 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.


EASTERN AUTO SPARES(IPSWICH HOLDINGS)LTD (REGISTERED NUMBER: 02009629)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 August 2023 to 31 January 2024

2. ACCOUNTING POLICIES - continued
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 period 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 period was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023
and 31 January 2024 62,212 4,889 67,101
DEPRECIATION
At 1 August 2023 - 3,668 3,668
Charge for period - 92 92
At 31 January 2024 - 3,760 3,760
NET BOOK VALUE
At 31 January 2024 62,212 1,129 63,341
At 31 July 2023 62,212 1,221 63,433

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 January 2024 13,333
NET BOOK VALUE
At 31 January 2024 13,333
At 31 July 2023 13,333

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 3,673 -
Other debtors 348 -
4,021 -

EASTERN AUTO SPARES(IPSWICH HOLDINGS)LTD (REGISTERED NUMBER: 02009629)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 August 2023 to 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 88,404 88,404
Taxation and social security 2,700 990
Other creditors 1,515 2,838
92,619 92,232

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

I A Barlow (Senior Statutory Auditor)
for and on behalf of Sexty & Co

9. ULTIMATE CONTROLLING PARTY

The ultimate parent company is K J Shortis Limited. The direct parent company is Wilco Motor Spares Ltd, a wholly owned subsidiary of K J Shortis Limited. Both K J Shortis Limited and Wilco Motor Spares Ltd have the same registered office address of 186 Salhouse Road, Norwich, NR7 9AH.