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REGISTERED NUMBER: 03503430 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

CLASSIC COMPONENTS UK LIMITED

CLASSIC COMPONENTS UK LIMITED (REGISTERED NUMBER: 03503430)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLASSIC COMPONENTS UK LIMITED

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTORS: J Klein
K Klein





SECRETARY: E Klein





REGISTERED OFFICE: One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB





REGISTERED NUMBER: 03503430 (England and Wales)





AUDITORS: Dafferns LLP
Chartered Accountants
Statutory Auditor
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

CLASSIC COMPONENTS UK LIMITED (REGISTERED NUMBER: 03503430)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 48 46
Cash at bank 36,529 29,345
36,577 29,391
CREDITORS
Amounts falling due within one year 6 1,308,491 1,243,294
NET CURRENT LIABILITIES (1,271,914 ) (1,213,903 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,271,914

)

(1,213,903

)

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (1,272,914 ) (1,214,903 )
SHAREHOLDERS' FUNDS (1,271,914 ) (1,213,903 )

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





J Klein - Director


CLASSIC COMPONENTS UK LIMITED (REGISTERED NUMBER: 03503430)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Classic Components UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going Concern
The financial statements have been prepared on the going concern basis on the grounds that the continued financial commitment and support of the parent company has been confirmed.

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

Revenue reflects recharges of operational costs under an arrangement with the parent company.

Financial instruments
Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, 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.

CLASSIC COMPONENTS UK LIMITED (REGISTERED NUMBER: 03503430)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the statement of comprehensive income in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 48 46

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 628 575
Social security and other taxes 55 3,101
Amounts due to group companies 1,303,358 1,235,368
Accrued expenses 4,450 4,250
1,308,491 1,243,294

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

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

The Report of the Auditors was unqualified.

Lucy Hatton FCCA (Senior Statutory Auditor)
for and on behalf of Dafferns LLP

9. RELATED PARTY DISCLOSURES

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.

CLASSIC COMPONENTS UK LIMITED (REGISTERED NUMBER: 03503430)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

10. ULTIMATE PARENT COMPANY

The immediate parent and ultimate holding company is Classic Components Corporation, a company incorporated in the United States of America.

Copies of the group accounts can be requested from Classic Components Corporation, 23605 Telo Ave, Torrance, CA90505, United States of America.