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REGISTERED NUMBER: 08287824 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 June 2024

for

Exhaust Products Ltd

Exhaust Products Ltd (Registered number: 08287824)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Exhaust Products Ltd

Company Information
For The Year Ended 30 June 2024







DIRECTORS: Mr M L Funnell
Mr S Clay
Mr A Funnell





REGISTERED OFFICE: Unit 3B,
Bradley Park
High Holborn Road
Ripley
Derbyshire
DE5 3NW





REGISTERED NUMBER: 08287824 (England and Wales)





ACCOUNTANTS: Pedley & Co.
82 Nottingham Road
Somercotes
Alfreton
Derbyshire
DE55 4LY

Exhaust Products Ltd (Registered number: 08287824)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 331,987 301,164
331,987 301,164

CURRENT ASSETS
Stocks 8,500 8,500
Debtors 6 353,271 391,655
Cash at bank and in hand 107,227 61,818
468,998 461,973
CREDITORS
Amounts falling due within one year 7 441,700 401,330
NET CURRENT ASSETS 27,298 60,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,285

361,807

PROVISIONS FOR LIABILITIES 63,078 60,228
NET ASSETS 296,207 301,579

CAPITAL AND RESERVES
Called up share capital 45,007 45,007
Share premium (34,465 ) (34,465 )
Retained earnings 285,665 291,037
SHAREHOLDERS' FUNDS 296,207 301,579

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Exhaust Products Ltd (Registered number: 08287824)

Balance Sheet - continued
30 June 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 7 November 2024 and were signed on its behalf by:





Mr M L Funnell - Director


Exhaust Products Ltd (Registered number: 08287824)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Exhaust Products 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.

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

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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.

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.

Exhaust Products Ltd (Registered number: 08287824)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 18 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 500
AMORTISATION
At 1 July 2023
and 30 June 2024 500
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 20,952 484,106 29,567 90,278 624,903
Additions - 6,962 - 97,081 104,043
Disposals - - - (36,750 ) (36,750 )
At 30 June 2024 20,952 491,068 29,567 150,609 692,196
DEPRECIATION
At 1 July 2023 14,419 245,179 17,264 46,877 323,739
Charge for year 653 24,589 1,230 31,244 57,716
Eliminated on disposal - - - (21,246 ) (21,246 )
At 30 June 2024 15,072 269,768 18,494 56,875 360,209
NET BOOK VALUE
At 30 June 2024 5,880 221,300 11,073 93,734 331,987
At 30 June 2023 6,533 238,927 12,303 43,401 301,164

Exhaust Products Ltd (Registered number: 08287824)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 317,087 357,916
Other debtors 36,184 33,739
353,271 391,655

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 26,649 45,526
Hire purchase contracts 104,134 47,639
Trade creditors 226,979 274,040
Taxation and social security 81,363 26,968
Other creditors 2,575 7,157
441,700 401,330