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REGISTERED NUMBER: 07797365 (England and Wales)















Financial Statements for the Year Ended 31st October 2024

for

Pro Parts (Kent) Limited

Pro Parts (Kent) Limited (Registered number: 07797365)

Contents of the Financial Statements
for the year ended 31st October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pro Parts (Kent) Limited

Company Information
for the year ended 31st October 2024







DIRECTORS: P Burton
M Burton





REGISTERED OFFICE: 1-3 Manor Road
Chatham
Kent
ME4 6AE





REGISTERED NUMBER: 07797365 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

Pro Parts (Kent) Limited (Registered number: 07797365)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,635 39,638

CURRENT ASSETS
Stocks 521,877 335,790
Debtors 5 761,534 509,411
Cash at bank 69,511 168,568
1,352,922 1,013,769
CREDITORS
Amounts falling due within one year 6 1,036,300 772,469
NET CURRENT ASSETS 316,622 241,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

333,257

280,938

CREDITORS
Amounts falling due after more than one
year

7

(16,262

)

(138,849

)

PROVISIONS FOR LIABILITIES 9 (1,780 ) (1,780 )
NET ASSETS 315,215 140,309

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 315,115 140,209
SHAREHOLDERS' FUNDS 315,215 140,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

Pro Parts (Kent) Limited (Registered number: 07797365)

Balance Sheet - continued
31st October 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 18th March 2025 and were signed on its behalf by:




P Burton - Director



M Burton - Director


Pro Parts (Kent) Limited (Registered number: 07797365)

Notes to the Financial Statements
for the year ended 31st October 2024


1. STATUTORY INFORMATION

Pro Parts (Kent) 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.

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

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

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 makes payments into a defined pension scheme and they are written off to the profit and loss account in the year to which they relate.

Pro Parts (Kent) Limited (Registered number: 07797365)

Notes to the Financial Statements - continued
for the year ended 31st October 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st November 2023 166,321 77,292 243,613
Disposals - (38,042 ) (38,042 )
At 31st October 2024 166,321 39,250 205,571
DEPRECIATION
At 1st November 2023 154,358 49,617 203,975
Charge for year 2,990 2,553 5,543
Eliminated on disposal - (20,582 ) (20,582 )
At 31st October 2024 157,348 31,588 188,936
NET BOOK VALUE
At 31st October 2024 8,973 7,662 16,635
At 31st October 2023 11,963 27,675 39,638

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 761,534 509,411

Trade debtors in the sum of £761,534 (202: £509,411) were subject to a factoring agreement.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 711,322 629,160
Trade creditors 9,892 11,093
Taxation and social security 157,458 95,015
Other creditors 157,628 37,201
1,036,300 772,469

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,262 138,849

Pro Parts (Kent) Limited (Registered number: 07797365)

Notes to the Financial Statements - continued
for the year ended 31st October 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 580,131 497,969
Bank loans 147,453 270,040
727,584 768,009

The overdrafts consist of a factoring agreement with a fixed charge over book debts and a floating charge over all other assets.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,780 1,780

Deferred
tax
£   
Balance at 1st November 2023 1,780
Balance at 31st October 2024 1,780