IRIS Accounts Production v24.3.0.553 07135327 Board of Directors 1.2.23 31.1.24 31.1.24 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071353272023-01-31071353272024-01-31071353272023-02-012024-01-31071353272022-01-31071353272022-02-012023-01-31071353272023-01-3107135327ns15:EnglandWales2023-02-012024-01-3107135327ns14:PoundSterling2023-02-012024-01-3107135327ns10:Director12023-02-012024-01-3107135327ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3107135327ns10:SmallEntities2023-02-012024-01-3107135327ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3107135327ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3107135327ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3107135327ns10:FullAccounts2023-02-012024-01-310713532712023-02-012024-01-3107135327ns10:Director22023-02-012024-01-3107135327ns10:Director32023-02-012024-01-3107135327ns10:Director42023-02-012024-01-3107135327ns10:RegisteredOffice2023-02-012024-01-3107135327ns5:CurrentFinancialInstruments2024-01-3107135327ns5:CurrentFinancialInstruments2023-01-3107135327ns5:ShareCapital2024-01-3107135327ns5:ShareCapital2023-01-3107135327ns5:RetainedEarningsAccumulatedLosses2024-01-3107135327ns5:RetainedEarningsAccumulatedLosses2023-01-3107135327ns5:NetGoodwill2023-02-012024-01-3107135327ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3107135327ns5:PlantMachinery2023-02-012024-01-3107135327ns5:FurnitureFittings2023-02-012024-01-3107135327ns5:NetGoodwill2023-01-3107135327ns5:NetGoodwill2024-01-3107135327ns5:NetGoodwill2023-01-3107135327ns5:PlantMachinery2023-01-3107135327ns5:FurnitureFittings2023-01-3107135327ns5:PlantMachinery2024-01-3107135327ns5:FurnitureFittings2024-01-3107135327ns5:PlantMachinery2023-01-3107135327ns5:FurnitureFittings2023-01-3107135327ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3107135327ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31
REGISTERED NUMBER: 07135327 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Direct Parts Supply Limited

Direct Parts Supply Limited (Registered number: 07135327)






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


Direct Parts Supply Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Rhys Davies
Susan Davies
Mr Dylan Jake Cotton
Mr Jacob Andrew Davies





REGISTERED OFFICE: 339 Chorley New Road
Horwich
Bolton
Lancashire
BL6 5PP





REGISTERED NUMBER: 07135327 (England and Wales)





ACCOUNTANTS: Mike Egan & Co Limited
Chartered Accountants
168 Lee Lane
Horwich
Bolton
Lancashire
BL6 7AF

Direct Parts Supply Limited (Registered number: 07135327)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,668 2,224
1,668 2,224

CURRENT ASSETS
Stocks 6 15,960 15,000
Debtors 7 14,328 22,488
Cash at bank and in hand 213,135 251,322
243,423 288,810
CREDITORS
Amounts falling due within one year 8 (149,444 ) (145,245 )
NET CURRENT ASSETS 93,979 143,565
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,647

145,789

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 95,643 145,785
SHAREHOLDERS' FUNDS 95,647 145,789

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.

Direct Parts Supply Limited (Registered number: 07135327)

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 16 October 2024 and were signed on its behalf by:





Rhys Davies - Director


Direct Parts Supply Limited (Registered number: 07135327)

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

1. STATUTORY INFORMATION

Direct Parts Supply 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of four years.

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.

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 - 25% on reducing balance
Fixtures and fittings - 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 4 ).

Direct Parts Supply Limited (Registered number: 07135327)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 20,000
AMORTISATION
At 1 February 2023
and 31 January 2024 20,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 23,692 7,445 31,137
DEPRECIATION
At 1 February 2023 22,357 6,556 28,913
Charge for year 334 222 556
At 31 January 2024 22,691 6,778 29,469
NET BOOK VALUE
At 31 January 2024 1,001 667 1,668
At 31 January 2023 1,335 889 2,224

6. STOCKS
2024 2023
£    £   
Stocks 15,960 15,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,795 22,488
Prepayments 1,533 -
14,328 22,488

Direct Parts Supply Limited (Registered number: 07135327)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 22,746 52,038
Tax 26,824 32,435
VAT 18,989 19,696
Directors' loan accounts 78,885 39,076
Accrued expenses 2,000 2,000
149,444 145,245

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £141,000 (2023 - £150,000) were paid to the directors .

Included in creditors is ana mount of £78,885 owed to the directors.