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REGISTERED NUMBER: 00845508 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 April 2024

for

Parry's Motor Parts Limited

Parry's Motor Parts Limited (Registered number: 00845508)






Contents of the Financial Statements
for the Year Ended 29 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Parry's Motor Parts Limited

Company Information
for the Year Ended 29 April 2024







DIRECTOR: M Parry





REGISTERED OFFICE: 104 Frog Lane
Wigan
Lancashire
WN6 7DA





REGISTERED NUMBER: 00845508 (England and Wales)





ACCOUNTANTS: M J Miller & Co. Ltd
Chartered Certified Accountants
56 Gidlow Lane
Gidlow
Wigan
Lancashire
WN6 7DP

Parry's Motor Parts Limited (Registered number: 00845508)

Balance Sheet
29 April 2024

29.4.24 29.4.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 6,000 12,000
Tangible assets 5 709,858 721,317
715,858 733,317

CURRENT ASSETS
Stocks 911,356 971,202
Debtors: amounts falling due within
one year

6

2,450,736

450,905
Debtors: amounts falling due after
more than one year

6

490,316

490,316
Cash in hand 3,108,441 5,618,000
6,960,849 7,530,423
CREDITORS
Amounts falling due within one year 7 22,919 (309 )
NET CURRENT ASSETS 6,937,930 7,530,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,653,788

8,264,049

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 7,651,788 8,262,049
7,653,788 8,264,049

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Parry's Motor Parts Limited (Registered number: 00845508)

Balance Sheet - continued
29 April 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 director and authorised for issue on 10 January 2025 and were signed by:





M Parry - Director


Parry's Motor Parts Limited (Registered number: 00845508)

Notes to the Financial Statements
for the Year Ended 29 April 2024

1. STATUTORY INFORMATION

Parry's Motor Parts 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.

Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and at varying rates on cost

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


Parry's Motor Parts Limited (Registered number: 00845508)

Notes to the Financial Statements - continued
for the Year Ended 29 April 2024

2. ACCOUNTING POLICIES - continued
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.

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 27 (2023 - 25 ) .

Parry's Motor Parts Limited (Registered number: 00845508)

Notes to the Financial Statements - continued
for the Year Ended 29 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 30 April 2023
and 29 April 2024 297,000
AMORTISATION
At 30 April 2023 285,000
Charge for year 6,000
At 29 April 2024 291,000
NET BOOK VALUE
At 29 April 2024 6,000
At 29 April 2023 12,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 30 April 2023 834,956 757,177 1,592,133
Additions - 20,930 20,930
At 29 April 2024 834,956 778,107 1,613,063
DEPRECIATION
At 30 April 2023 158,247 712,569 870,816
Charge for year 16,699 15,690 32,389
At 29 April 2024 174,946 728,259 903,205
NET BOOK VALUE
At 29 April 2024 660,010 49,848 709,858
At 29 April 2023 676,709 44,608 721,317

6. DEBTORS
29.4.24 29.4.23
£ £
Amounts falling due within one year:
Trade debtors 244,498 406,455
Other debtors 2,206,238 44,450
2,450,736 450,905

Parry's Motor Parts Limited (Registered number: 00845508)

Notes to the Financial Statements - continued
for the Year Ended 29 April 2024

6. DEBTORS - continued
29.4.24 29.4.23
£ £
Amounts falling due after more than one year:
Other debtors 490,316 490,316

Aggregate amounts 2,941,052 941,221

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.4.24 29.4.23
£ £
Trade creditors (60,018 ) (113,646 )
Taxation and social security 47,861 78,261
Other creditors 35,076 35,076
22,919 (309 )

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 April 2024 and 29 April 2023:

29.4.24 29.4.23
£ £
M Parry
Balance outstanding at start of year - -
Amounts advanced 2,161,208 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,161,208 -

9. PARENT COMPANY

The director considers the ultimate parent company to be Parry's Holdings Limited, a company registered in England & Wales. Parry's Holdings Limited is exempt from the requirement to prepare group accounts.