2023-08-012024-07-312024-07-31false08148272MOPAR 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MOPAR LTD

Registered Number
08148272
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

MOPAR LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

HAUKSSON, Hafthor
SVEINSSON, Haukur

Registered Address

1 Audley Court
Fareham
PO16 8GA

Place of Business

Unit 41

Gosport Business Centre

Aerodrome Road

Gosport

PO13 0FQ


Registered Number

08148272 (England and Wales)
MOPAR LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets350,66667,051
Investments4238,847-
289,51367,051
Current assets
Stocks41,000402,300
Debtors461,484179,122
Current asset investments35,00035,000
Cash at bank and on hand8,87088,235
546,354704,657
Creditors amounts falling due within one year5(134,799)(104,933)
Net current assets (liabilities)411,555599,724
Total assets less current liabilities701,068666,775
Creditors amounts falling due after one year(11,667)(21,667)
Provisions for liabilities(9,966)(12,740)
Net assets679,435632,368
Capital and reserves
Profit and loss account679,435632,368
Shareholders' funds679,435632,368
The financial statements were approved and authorised for issue by the Board of Directors on 22 April 2025, and are signed on its behalf by:
HAUKSSON, Hafthor
Director
SVEINSSON, Haukur
Director

Registered Company No. 08148272
MOPAR LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Vehicles25
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 23102,029
Additions23,047
Disposals(35,900)
At 31 July 2489,176
Depreciation and impairment
At 01 August 2334,979
Charge for year13,067
On disposals(9,536)
At 31 July 2438,510
Net book value
At 31 July 2450,666
At 31 July 2367,051
4.Fixed asset investments

Total

£
Cost or valuation
Additions238,847
At 31 July 24238,847
Net book value
At 31 July 24238,847
At 31 July 23-
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables45,86514,484
Bank borrowings and overdrafts10,00010,000
Amounts owed to related parties27,30827,308
Taxation and social security50,80152,315
Other creditors825826
Total134,799104,933
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.