Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01false64truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09405226 2023-03-01 2024-02-29 09405226 2022-03-01 2023-02-28 09405226 2024-02-29 09405226 2023-02-28 09405226 c:Director1 2023-03-01 2024-02-29 09405226 d:PlantMachinery 2023-03-01 2024-02-29 09405226 d:PlantMachinery 2024-02-29 09405226 d:PlantMachinery 2023-02-28 09405226 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09405226 d:MotorVehicles 2023-03-01 2024-02-29 09405226 d:MotorVehicles 2024-02-29 09405226 d:MotorVehicles 2023-02-28 09405226 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09405226 d:OfficeEquipment 2023-03-01 2024-02-29 09405226 d:OfficeEquipment 2024-02-29 09405226 d:OfficeEquipment 2023-02-28 09405226 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09405226 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09405226 d:CurrentFinancialInstruments 2024-02-29 09405226 d:CurrentFinancialInstruments 2023-02-28 09405226 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 09405226 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09405226 d:ShareCapital 2024-02-29 09405226 d:ShareCapital 2023-02-28 09405226 d:RetainedEarningsAccumulatedLosses 2024-02-29 09405226 d:RetainedEarningsAccumulatedLosses 2023-02-28 09405226 c:FRS102 2023-03-01 2024-02-29 09405226 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09405226 c:FullAccounts 2023-03-01 2024-02-29 09405226 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 09405226










JLR PARTS (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
JLR PARTS (UK) LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7

 
JLR PARTS (UK) LIMITED
REGISTERED NUMBER: 09405226

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,940
16,669

Current assets
  

Stocks
  
1,828,957
1,789,944

Debtors: amounts falling due within one year
 5 
3,074
4,472

Cash at bank and in hand
  
23,123
82,436

  
1,855,154
1,876,852

Creditors: amounts falling due within one year
 6 
(1,518,802)
(1,580,609)

Net current assets
  
 
 
336,352
 
 
296,243

Total assets less current liabilities
  
349,292
312,912

Provisions for liabilities
  

Deferred tax
  
(4,022)
(4,168)

Net assets
  
345,270
308,744


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
345,268
308,742

  
345,270
308,744

Page 1

 
JLR PARTS (UK) LIMITED
REGISTERED NUMBER: 09405226
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 October 2024.




P.G. Farmiloe
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
JLR PARTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

JLR Parts (UK) Limited is a private company limited by shares, incorporated and domiciled in England.  The address of the registered office is Unit 5 Saxon Business Park, Hanbury Road, Stoke Prior, Bromsgrove, Worcestershire, England, B60 4AD, which is also the address of the principal place of business. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
JLR PARTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line or reducing balance method..

Depreciation is provided on the following basis:

Plant and machinery
-
15% on a reducing balance basis
Motor vehicles
-
25% on a reducing balance basis
Office equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
JLR PARTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 4).

Page 5

 
JLR PARTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost


At 1 March 2023
32,273
12,550
1,178
46,001


Additions
850
-
1,957
2,807


Disposals
-
(12,550)
-
(12,550)



At 29 February 2024

33,123
-
3,135
36,258



Depreciation


At 1 March 2023
20,129
8,358
845
29,332


Charge for the year on owned assets
1,906
1,048
438
3,392


Disposals
-
(9,406)
-
(9,406)



At 29 February 2024

22,035
-
1,283
23,318



Net book value



At 29 February 2024
11,088
-
1,852
12,940



At 28 February 2023
12,144
4,192
333
16,669

Page 6

 
JLR PARTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
3,074
4,472



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
5,627
7,026

Corporation tax
9,408
17,855

Other taxation and social security
5,028
10,381

Other creditors - secured on the assets of the company
1,274,587
1,312,587

Accruals and deferred income
224,152
232,760

1,518,802
1,580,609


Included in other creditors are loans from a director's family of £1,274,587 (2023: £1,312,587) which are interest-free and repayable on demand.

 
Page 7