BrightAccountsProduction v1.0.0 v1.0.0 2023-06-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the business is importing and exporting components for industrial machinery and, consultancy on sales and supply chain management. 19 February 2025 2 2 NI624608 2024-05-31 NI624608 2023-05-31 NI624608 2022-05-31 NI624608 2023-06-01 2024-05-31 NI624608 2022-06-01 2023-05-31 NI624608 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI624608 uk-curr:PoundSterling 2023-06-01 2024-05-31 NI624608 uk-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI624608 uk-bus:FullAccounts 2023-06-01 2024-05-31 NI624608 uk-core:ShareCapital 2024-05-31 NI624608 uk-core:ShareCapital 2023-05-31 NI624608 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI624608 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI624608 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI624608 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 NI624608 uk-bus:FRS102 2023-06-01 2024-05-31 NI624608 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 NI624608 uk-core:CurrentFinancialInstruments 2024-05-31 NI624608 uk-core:CurrentFinancialInstruments 2023-05-31 NI624608 uk-core:WithinOneYear 2024-05-31 NI624608 uk-core:WithinOneYear 2023-05-31 NI624608 uk-core:AfterOneYear 2024-05-31 NI624608 uk-core:AfterOneYear 2023-05-31 NI624608 uk-core:OtherMiscellaneousReserve 2023-05-31 NI624608 uk-core:OtherMiscellaneousReserve 2023-06-01 2024-05-31 NI624608 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-05-31 NI624608 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-05-31 NI624608 uk-core:OtherDeferredTax 2024-05-31 NI624608 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-05-31 NI624608 uk-core:OtherMiscellaneousReserve 2024-05-31 NI624608 2023-06-01 2024-05-31 NI624608 uk-bus:Director2 2023-06-01 2024-05-31 NI624608 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI624608
 
 
C&S Parts Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 May 2024
C&S Parts Limited
Company Registration Number: NI624608
BALANCE SHEET
as at 31 May 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 1,186 743
───────── ─────────
 
Current Assets
Debtors 5 56,378 24,140
Cash and cash equivalents 22,356 22,688
───────── ─────────
78,734 46,828
───────── ─────────
Creditors: amounts falling due within one year 6 (50,342) (17,427)
───────── ─────────
Net Current Assets 28,392 29,401
───────── ─────────
Total Assets less Current Liabilities 29,578 30,144
 
Creditors:
amounts falling due after more than one year 7 - (29,665)
 
Provisions for liabilities 8 (297) (142)
───────── ─────────
Net Assets 29,281 337
═════════ ═════════
 
Capital and Reserves
Called up share capital 10 10
Retained earnings 29,271 327
───────── ─────────
Equity attributable to owners of the company 29,281 337
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 19 February 2025 and signed on its behalf by
           
           
________________________________          
Mr Ciaran Keyes          
Director          
           



C&S Parts Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. General Information
 
C&S Parts Limited is a company limited by shares incorporated in Northern Ireland. 7 Beltany Grove, Omagh, Co Tyrone, BT78 5QP, Northern Ireland is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 May 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Employee 2 2
  ═════════ ═════════
       
4. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 June 2023 1,953 1,953
Additions 739 739
  ───────── ─────────
At 31 May 2024 2,692 2,692
  ───────── ─────────
Depreciation
At 1 June 2023 1,210 1,210
Charge for the financial year 296 296
  ───────── ─────────
At 31 May 2024 1,506 1,506
  ───────── ─────────
Net book value
At 31 May 2024 1,186 1,186
  ═════════ ═════════
At 31 May 2023 743 743
  ═════════ ═════════
       
5. Debtors 2024 2023
  £ £
 
Trade debtors 37,535 24,140
Other debtors 2,238 -
Directors' current accounts (Note ) 15,690 -
Taxation 915 -
  ───────── ─────────
  56,378 24,140
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due within one year £ £
 
Payments received on account 20,945 -
Trade creditors 21,475 3,384
Taxation 6,722 12,843
Accruals 1,200 1,200
  ───────── ─────────
  50,342 17,427
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Directors' loan accounts - 29,665
  ═════════ ═════════
 
         
8. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 142 142 86
Charged to profit and loss 155 155 56
  ───────── ───────── ─────────
At financial year end 297 297 142
  ═════════ ═════════ ═════════
           
9. Related party transactions
 
At the start of the year £29,665 was owed to the director. During the year the company borrowed £26,827 and repaid £72,182. At the year end, the director owed the company £15,690. This is included in the debtors section of the balance sheet.