Dust Spares Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 04117763

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		118,611		83,340
Tangible Assets	5		4,743		5,247

			123,354		88,587
CURRENT ASSETS
Stocks	6	151,203		156,605
Debtors	7	56,515		47,789
Cash at bank and in hand		96,038		80,387

		303,756		284,781
Creditors: Amounts Falling Due Within One Year	8	(269,936 )		(238,756 )

NET CURRENT ASSETS (LIABILITIES)			33,820		46,025

TOTAL ASSETS LESS CURRENT LIABILITIES			157,174		134,612

NET ASSETS			157,174		134,612

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			157,074		134,512

SHAREHOLDERS' FUNDS			157,174		134,612

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Dust Spares Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Peter Bentley

Director

02/04/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Dust Spares Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04117763 . The registered office is Unit 11 Priory Business Park, Wistow Road, Kibworth, Leicester, Leicestershire, LE8 0RX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been

amortised evenly over its estimated useful life of ten years. It is now held at nil value.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing balance
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	25% Reducing balance
Computer Equipment	33% Straight line

2.6. Stocks and Work in Progress

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.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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Dust Spares Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2023: 9)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 January 2024	8,000	116,013	124,013
Additions	-	48,795	48,795

As at 31 December 2024	8,000	164,808	172,808

Amortisation
As at 1 January 2024	8,000	32,673	40,673
Provided during the period	-	13,524	13,524

As at 31 December 2024	8,000	46,197	54,197

Net Book Value
As at 31 December 2024	-	118,611	118,611

As at 1 January 2024	-	83,340	83,340

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	11,222	6,740	15,124	33,086
Additions	-	-	1,427	1,427

As at 31 December 2024	11,222	6,740	16,551	34,513

Depreciation
As at 1 January 2024	10,249	3,727	13,863	27,839
Provided during the period	243	755	933	1,931

As at 31 December 2024	10,492	4,482	14,796	29,770

Net Book Value
As at 31 December 2024	730	2,258	1,755	4,743

As at 1 January 2024	973	3,013	1,261	5,247

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Dust Spares Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Stocks

	2024	2023
	£	£
Stock	135,426	126,293
Work in progress	15,777	30,312

	151,203	156,605

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	54,915	40,683
Other debtors	1,600	7,106

	56,515	47,789

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	189,869	141,695
Bank loans and overdrafts	14,643	24,951
Corporation tax	36,239	45,234
Other taxes and social security	3,338	3,693
VAT	21,627	19,299
Pension (Current liabilities - creditors < 1 year)	881	665
Other creditors (1)	1,947	1,992
Accruals and deferred income	1,392	1,227

	269,936	238,756

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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