2023-03-01 08470954 2024-02-29 08470954 2023-03-01 2024-02-29 08470954 2023-02-28 08470954 2022-03-01 2023-02-28 08470954 uk-core:WithinOneYear 2023-02-28 08470954 uk-core:WithinOneYear 2024-02-29 08470954 uk-core:AfterOneYear 2023-02-28 08470954 uk-core:AfterOneYear 2024-02-29 08470954 uk-core:ShareCapital 2024-02-29 08470954 uk-core:ShareCapital 2023-02-28 08470954 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 08470954 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 08470954 uk-bus:Director1 2023-03-01 2024-02-29 08470954 uk-core:PlantMachinery 2023-03-01 2024-02-29 08470954 uk-core:ComputerEquipment 2023-03-01 2024-02-29 08470954 uk-core:FurnitureFittings 2023-03-01 2024-02-29 08470954 uk-core:ComputerEquipment 2023-02-28 08470954 uk-core:FurnitureFittings 2023-02-28 08470954 uk-core:PlantMachinery 2023-02-28 08470954 uk-core:PlantMachinery 2024-02-29 08470954 uk-core:FurnitureFittings 2024-02-29 08470954 uk-core:ComputerEquipment 2024-02-29 iso4217:GBP xbrli:pure 08470954 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08470954 uk-bus:FRS102 2023-03-01 2024-02-29 08470954 uk-bus:FilletedAccounts 2023-03-01 2024-02-29 08470954 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29
Leicester Motor Spares Limited
Registered Number:08470954
For the year ended 29 February 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 29 February 2024
Leicester Motor Spares Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
08470954
As at 29 February 2024
Leicester Motor Spares Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
9,742
10,438
2
9,742
10,438
Current assets
Inventories
85,922
115,117
3
Trade and other receivables
7,445
2,561
4
20,860
Cash and cash equivalents
22,507
140,185
114,227
Trade and other payables: amounts falling due within one
year
(65,561)
(109,913)
5
48,666
30,272
Net current assets
Total assets less current liabilities
40,014
59,104
Trade and other payables: amounts falling due after more
than one year
(18,664)
(20,616)
6
(1,851)
(1,983)
Provisions for liabilities
17,547
Net assets
38,457
Capital and reserves
Called up share capital
100
100
Retained earnings
17,447
38,357
17,547
38,457
Shareholders' funds
For the year ended 29 February 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
08470954
For the year ended 29 February 2024
Leicester Motor Spares Limited
Statement of Financial Position Continued
Suhail Umar Director
These financial statements were approved and authorised for issue by the Board on 25 November 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 29 February 2024
Leicester Motor Spares Limited
Notes to the Financial Statements
Statutory Information
Leicester Motor Spares Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 08470954.
Registered address:
248 Humberstone Road
Leicester
LE5 0EG
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
10 Straight line
20 Straight line
Computer equipment
10 Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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6
For the year ended 29 February 2024
Leicester Motor Spares Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 March 2023
29,921
1,973
25,035
2,913
1,734
150
-
1,584
Additions
At 29 February 2024
4,497
25,035
2,123
31,655
Provision for depreciation and impairment
At 01 March 2023
19,483
1,164
15,785
2,534
Charge for year
2,430
404
1,680
346
At 29 February 2024
21,913
1,568
17,465
2,880
At 29 February 2024
Net book value
1,617
7,570
555
9,742
At 28 February 2023
379
9,250
809
10,438
3. Inventories
2023
2024
£
£
Stocks
115,117
85,922
4. Trade and other receivables
2023
2024
£
£
Trade debtors
2,561
4,445
Other debtors
-
3,000
7,445
2,561
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
53,485
23,829
Taxation and social security
21,477
7,762
Other creditors
34,951
33,970
109,913
65,561
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7
For the year ended 29 February 2024
Leicester Motor Spares Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Other creditors
20,616
18,664
7. Average number of persons employed
During the year the average number of employees was 2 (2023 : 2)
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