REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
24 January 2024 to 31 December 2024 |
for |
Motaparts Xpress (Worcester) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
24 January 2024 to 31 December 2024 |
for |
Motaparts Xpress (Worcester) Limited |
Motaparts Xpress (Worcester) Limited (Registered number: 15440820) |
Contents of the Financial Statements |
for the Period 24 January 2024 to 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Motaparts Xpress (Worcester) Limited |
Company Information |
for the Period 24 January 2024 to 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Leofric House |
Binley Road |
Coventry |
CV3 1JN |
Motaparts Xpress (Worcester) Limited (Registered number: 15440820) |
Balance Sheet |
31 December 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
PROVISIONS FOR LIABILITIES |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) |
( |
) |
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. |
Motaparts Xpress (Worcester) Limited (Registered number: 15440820) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Motaparts Xpress (Worcester) Limited (Registered number: 15440820) |
Notes to the Financial Statements |
for the Period 24 January 2024 to 31 December 2024 |
1. | STATUTORY INFORMATION |
Motaparts Xpress (Worcester) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents sales to external customers at invoiced amounts less value added tax and agreed rebates and is recognised on delivery of the goods. |
Sales of goods - Branch customers on account: |
The company sells a range of products for customers on account through its branch network . Sales of goods are recognised on delivery to the customer, when there is no unfulfilled obligation that could affect the customer's acceptance of the product. Delivery occurs when the goods have been shipped to the location specified by the customer, or picked up by the customer in the branch, the risks of obsolescence or loss have been transferred to the customer, the customer has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed or the company has objective evidence that all criteria for acceptance have been satisfied. |
Sales of goods - Branch retail customers: |
The company makes retail sales through its branch network . Sales of goods are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card. |
Sales are made to retail customers with a right to return within 28 days, subject to certain conditions regarding usage of the goods. |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Motaparts Xpress (Worcester) Limited (Registered number: 15440820) |
Notes to the Financial Statements - continued |
for the Period 24 January 2024 to 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
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 period was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
Additions |
At 31 December 2024 |
DEPRECIATION |
Charge for period |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
Motaparts Xpress (Worcester) Limited (Registered number: 15440820) |
Notes to the Financial Statements - continued |
for the Period 24 January 2024 to 31 December 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Pension Creditor | 489 |
Accrued expenses |
7. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is A P Rollings by virtue of his majority shareholding in the parent company. |