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REGISTERED NUMBER: SC285268 (Scotland)
















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Cunningham Truck Parts Limited

Cunningham Truck Parts Limited (Registered number: SC285268)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cunningham Truck Parts Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: I Cunningham





REGISTERED OFFICE: Unit 5
Western Industrial Estate
Crathie Road
Kilmarnock
Ayrshire
KA3 1LU





REGISTERED NUMBER: SC285268 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Cunningham Truck Parts Limited (Registered number: SC285268)

Balance Sheet
30 September 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 339,877 315,610

CURRENT ASSETS
Stocks 1,003,503 892,003
Debtors 6 647,965 567,549
Cash at bank 249,712 235,542
1,901,180 1,695,094
CREDITORS
Amounts falling due within one year 7 1,129,634 1,129,271
NET CURRENT ASSETS 771,546 565,823
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,111,423

881,433

CREDITORS
Amounts falling due after more than one
year

8

(18,969

)

(32,667

)

PROVISIONS FOR LIABILITIES (84,969 ) (78,903 )
NET ASSETS 1,007,485 769,863

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 1,007,384 769,762
SHAREHOLDERS' FUNDS 1,007,485 769,863

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

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

Cunningham Truck Parts Limited (Registered number: SC285268)

Balance Sheet - continued
30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 March 2025 and were signed by:





I Cunningham - Director


Cunningham Truck Parts Limited (Registered number: SC285268)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Cunningham Truck Parts Limited is a private company, limited by shares , registered in Scotland. 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 director reviews the trading results of the business on a regular basis to ensure that sufficient resources are available to meet commitments as they fall due. The financial statements have been prepared on a going concern basis.

Turnover
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue and related cost can be reliably measured, it cis probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amount of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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


Cunningham Truck Parts Limited (Registered number: SC285268)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 10 ) .

Cunningham Truck Parts Limited (Registered number: SC285268)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 6,199 372,352 208,275 49,770 636,596
Additions - 38,771 39,850 1,796 80,417
At 30 September 2024 6,199 411,123 248,125 51,566 717,013
DEPRECIATION
At 1 October 2023 - 227,883 61,656 31,447 320,986
Charge for year - 23,310 30,017 2,823 56,150
At 30 September 2024 - 251,193 91,673 34,270 377,136
NET BOOK VALUE
At 30 September 2024 6,199 159,930 156,452 17,296 339,877
At 30 September 2023 6,199 144,469 146,619 18,323 315,610

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2023 18,300 128,791 147,091
Additions - 28,900 28,900
Transfer to ownership - (38,250 ) (38,250 )
At 30 September 2024 18,300 119,441 137,741
DEPRECIATION
At 1 October 2023 5,078 37,788 42,866
Charge for year 1,983 10,026 12,009
Transfer to ownership - (22,114 ) (22,114 )
At 30 September 2024 7,061 25,700 32,761
NET BOOK VALUE
At 30 September 2024 11,239 93,741 104,980
At 30 September 2023 13,222 91,003 104,225

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 642,448 567,549
Other debtors 5,517 -
647,965 567,549

Cunningham Truck Parts Limited (Registered number: SC285268)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 9,953 9,705
Hire purchase contracts 23,497 25,893
Trade creditors 670,198 627,839
Taxation and social security 138,044 98,589
Other creditors 287,942 367,245
1,129,634 1,129,271

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans 6,966 17,167
Hire purchase contracts 12,003 15,500
18,969 32,667

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 16,919 26,872
Hire purchase contracts 35,500 41,393
RBS invoice finance 228,536 357,505
280,955 425,770

Hire purchase creditors are secured over the assets being financed.

The bank loan is supported by a 100% guarantee from the UK Government. Interest is charged at a commercial rate of interest.

The invoice finance is secured by a floating charge over all property and assets of the company.