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Registered number: 14108238









Green Parts Specialist Holdings Ltd









Annual report and financial statements

For the Year Ended 31 July 2024

 
Green Parts Specialist Holdings Ltd
 
 
Company Information


Directors
K Duty 
J Pocock 
L C Stearns 
H B Verhage (appointed 1 December 2024)




Registered number
14108238



Registered office
Acrey Fields Woburn Road
Wootton

Bedfordshire

MK43 9EJ




Independent auditors
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors

3 Stockport Exchange

Stockport

SK1 3GG





 
Green Parts Specialist Holdings Ltd
 

Contents



Page
Strategic report
1
Directors' report
2 - 3
Independent auditors' report
4 - 7
Statement of income and retained earnings
8
Balance sheet
9
Notes to the financial statements
10 - 13


 
Green Parts Specialist Holdings Ltd
 
 
Strategic Report
For the Year Ended 31 July 2024

Introduction
 
The Directors present the Strategic Report for the year ended 31 July 2024.

Business review
 
The company is a holding company and does not trade. The company's parent company is Copart UK Limited. The main trading subsidiaries of Green Parts Specialist Holdings Ltd are Green Parts Specialists (Ormskirk) Ltd and Green Parts Salvage & Recycling Ltd, of which the principal activity is the sale and recycling of motor vehicles and parts.. 
Principal risks and uncertainties
As it is an intermediate holding company, the principal risks to the company relate to the potential risks and uncertainties
identified by its main trading subsidiary undertaking, Green Parts Salvage & Recycling Ltd.

Financial key performance indicators

The Company is a holding company and does not trade and as such does not have any financial key performance
indicators.

Other key performance indicators

The Company is a holding company and does not trade and as such does not have any other key performance indicators.


This report was approved by the board and signed on its behalf.



L Stearns
Director

Date: 28 April 2025

Page 1

 
Green Parts Specialist Holdings Ltd
 
 
 
Directors' Report
For the Year Ended 31 July 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Directors

The directors who served during the year were:

K Duty 
I M Hill (resigned 1 December 2024)
P K Kirkpatrick (resigned 1 December 2024)
J Pocock 
S Powers (resigned 1 December 2024)
L C Stearns 

Results and dividends

The profit for the year, after taxation, amounted to £9,999,947 (2023 -£NIL).

Dividends of £10,000,000 (2023: £nil) were paid during the year. The directors do not recommend the payment of a final dividend.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Future developments

The directors anticipate that the business will continue as an intermediate holding company within the group.

Page 2

 
Green Parts Specialist Holdings Ltd
 
 
 
Directors' Report (continued)
For the Year Ended 31 July 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditors, Hurst Accountants Limited were appointed in the year, and will be proposed for reappointment in accordance
with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





L C Stearns
Director

Date: 28 April 2025

Page 3

 
Green Parts Specialist Holdings Ltd
 
 
 
Independent auditors' report to the members of Green Parts Specialist Holdings Ltd
 

Opinion


We have audited the financial statements of Green Parts Specialist Holdings Ltd (the 'Company') for the year ended 31 July 2024, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 July 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 4

 
Green Parts Specialist Holdings Ltd
 
 
 
Independent auditors' report to the members of Green Parts Specialist Holdings Ltd (continued)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
Green Parts Specialist Holdings Ltd
 
 
 
Independent auditors' report to the members of Green Parts Specialist Holdings Ltd (continued)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and
noncompliance with laws and regulations, we considered the following:

The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.
Supporting documentation relating to the Company's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulations
°Detecting and responding to the risks of fraud
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
The outcome of discussions amongst the engagement team regarding how and where fraud might occur in thefinancial statements and any potential indicators of fraud.
The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, and Antibribery and Corruption.

Audit response to risks identified

Our procedures to respond to the risks identified included the following:

Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities.
Enquiring of management about any actual and potential litigation and claims.
Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
Page 6

 
Green Parts Specialist Holdings Ltd
 
 
 
Independent auditors' report to the members of Green Parts Specialist Holdings Ltd (continued)


We have also considered the risk of fraud through management override of controls by:

Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error.
Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
Evaluating the rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members
and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws
and regulations are from the events and transactions reflected in the financial statements, the less likely we would become
aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting
one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional
misrepresentations, or through collusion.
 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





John Glover (Senior statutory auditor)
for and on behalf of
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Stockport
SK1 3GG

30 April 2025
Page 7

 
Green Parts Specialist Holdings Ltd
 
 
Statement of Income and Retained Earnings
For the Year Ended 31 July 2024

31 July
8 month period ended
31 July
2024
2023
Note
£
£

  

Administrative expenses
  
(53)
-

Operating (loss)/profit
  
(53)
-

Income from shares in group undertakings
 4 
10,000,000
-

Profit before tax
  
9,999,947
-

Tax on profit
  
-
-

Profit after tax
  
9,999,947
-

  

  

Retained earnings at the beginning of the year
  
5,855,342
5,855,342

  
5,855,342
5,855,342

Profit for the year
  
9,999,947
-

Dividends declared and paid
  
(10,000,000)
-

Retained earnings at the end of the year
  
5,855,289
5,855,342

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.

The notes on pages 10 to 13 form part of these financial statements.

Page 8

 
Green Parts Specialist Holdings Ltd
Registered number: 14108238

Balance Sheet
As at 31 July 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
20,000,000
20,000,000

  
20,000,000
20,000,000

Current assets
  

Cash at bank and in hand
 6 
15,289
18,941

  
15,289
18,941

Creditors: amounts falling due within one year
 7 
-
(3,599)

Net current assets
  
 
 
15,289
 
 
15,342

Total assets less current liabilities
  
20,015,289
20,015,342

  

Net assets
  
20,015,289
20,015,342


Capital and reserves
  

Called up share capital 
 8 
14,160,000
14,160,000

Profit and loss account
  
5,855,289
5,855,342

  
20,015,289
20,015,342


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 April 2025.




L C Stearns
Director

The notes on pages 10 to 13 form part of these financial statements.

Page 9

 
Green Parts Specialist Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 July 2024

1.


General information

Green Parts Specialist Holdings Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office and address can found on the Company Information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Copart Inc. as at 31 July 2024 and these financial statements may be obtained from Copart Inc., 14185 Dallas Parkway, Ste 300, Dallas, TX, 75254, USA.

 
2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 10

 
Green Parts Specialist Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 -£NIL).


4.


Dividends

2024
2023
£
£


Dividends on equity capital - £0.71 (2023: £nil) per ordinary share
10,000,000
-

Page 11

 
Green Parts Specialist Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 July 2024

5.


Fixed asset investments





Investment in subsidiaries

£



Cost


At 1 August 2023
20,000,000



At 31 July 2024
20,000,000




Subsidiary undertakings

The following were subsidiary undertakings of the Company:

Name   Registered office  Principle activity Class of shares Holding

Green Parts SpecialistAcrey Fields Woburn Intermediate  Ordinary  100%
(Ormskirk) Holdings Road, Wootton,  holding company
Ltd   Bedfordshire, England,
   MK43 9EJ

Green Parts SpecialistAcrey Fields Woburn Rental of  Ordinary  100%
(Ormskirk) Ltd Road, Wootton,  commercial
   Bedfordshire, England, properties
   MK43 9EJ

Green Parts Salvage Acrey Fields Woburn Sale and recycling Ordinary  100%
& Recycling Ltd Road, Wootton,  of motor vehicles
   Bedfordshire, England, and parts
   MK43 9EJ

Green Parts SpecialistsAcrey Fields Woburn Sale and recycling Ordinary  100%
(Dumfries) Ltd Road, Wootton,  of motor vehicles
   Bedfordshire, England, and parts
   MK43 9EJ

The Green Parts Acrey Fields Woburn Dormant company A Ordinary  100%
Specialists Limited Road, Wootton,     B Ordinary  100%
   Bedfordshire, England,
   MK43 9EJ


6.


Cash

2024
2023
£
£

Cash at bank and in hand
15,289
18,941


Page 12

 
Green Parts Specialist Holdings Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 31 July 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
3,599



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



14,160,000 (2023 -14,160,000) B Ordinary shares of £1.00 each
14,160,000
14,160,000



9.


Related party transactions

In preparing these financial statements, the directors have taken advantage of the exemptions available under  section 33 paragraph 1A of the Financial Reporting Standard 102, and have not disclosed transactions entered into between wholly owned group undertakings.


10.


Controlling party

The company's immediate parent undertaking is Copart UK Limited, registered in England and Wales. The ultimate parent undertaking and controlling party is Copart Inc, a NASDAQ listed corporation incorporated in Delaware, USA.
The parent undertaking of the smallest and largest group of undertakings of which the company is a member and for which financial statements are drawn up is Copart Inc. Copies of its financial statements are available from Copart Inc., 14185 Dallas Parkway, Ste 300, Dallas, TX, 75254, USA.

Page 13