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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED

EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED (REGISTERED NUMBER: 02560671)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: A G Docking
J F Docking





REGISTERED OFFICE: 70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN





REGISTERED NUMBER: 02560671 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED (REGISTERED NUMBER: 02560671)

BALANCE SHEET
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 98,737 123,199

CURRENT ASSETS
Stocks 307,151 410,886
Debtors 5 188,034 212,557
Cash at bank and in hand 19,695 38,399
514,880 661,842
CREDITORS
Amounts falling due within one year 6 259,532 330,440
NET CURRENT ASSETS 255,348 331,402
TOTAL ASSETS LESS CURRENT LIABILITIES 354,085 454,601

CREDITORS
Amounts falling due after more than one year 7 (18,025 ) (29,515 )

PROVISIONS FOR LIABILITIES 9 (6,535 ) (20,330 )
NET ASSETS 329,525 404,756

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 329,325 404,556
329,525 404,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED (REGISTERED NUMBER: 02560671)

BALANCE SHEET - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:





A G Docking - Director


EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED (REGISTERED NUMBER: 02560671)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024

1. STATUTORY INFORMATION

Earl's Performance Products (U.K.) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

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 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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED (REGISTERED NUMBER: 02560671)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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 year was 14 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 597,517 11,951 16,601 94,091 720,160
Additions 3,226 - - - 3,226
At 30 September 2024 600,743 11,951 16,601 94,091 723,386
DEPRECIATION
At 1 October 2023 477,298 10,629 15,476 93,558 596,961
Charge for year 26,668 198 375 447 27,688
At 30 September 2024 503,966 10,827 15,851 94,005 624,649
NET BOOK VALUE
At 30 September 2024 96,777 1,124 750 86 98,737
At 30 September 2023 120,219 1,322 1,125 533 123,199

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2023 130,983
Transfer to ownership (96,250 )
At 30 September 2024 34,733
DEPRECIATION
At 1 October 2023 50,259
Charge for year 3,474
Transfer to ownership (43,313 )
At 30 September 2024 10,420
NET BOOK VALUE
At 30 September 2024 24,313
At 30 September 2023 80,724

EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED (REGISTERED NUMBER: 02560671)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 102,363 147,613
Amounts owed by group undertakings - 23,803
Other debtors 30,996 86
VAT 39,610 -
Prepayments 15,065 41,055
188,034 212,557

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 9,569 9,393
Hire purchase contracts 1,920 21,792
Trade creditors 168,816 184,744
Tax - 537
Social security and other taxes 20,872 27,813
VAT - 33,801
Other creditors 14,005 24,689
Directors' current accounts 33,012 4,352
Accrued expenses 11,338 23,319
259,532 330,440

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans - 1-2 years 9,748 9,569
Bank loans - 2-5 years 8,277 18,026
Hire purchase contracts - 1,920
18,025 29,515

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Hire purchase contracts 1,920 23,712

9. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 6,535 20,330

Deferred
tax
£   
Balance at 1 October 2023 20,330
Credit to Statement of Income and Retained Earnings during year (13,795 )
Balance at 30 September 2024 6,535

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EARL'S PERFORMANCE PRODUCTS (U.K.)
LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Earl's Performance Products (U.K.) Limited for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Earl's Performance Products (U.K.) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Earl's Performance Products (U.K.) Limited and state those matters that we have agreed to state to the Board of Directors of Earl's Performance Products (U.K.) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Earl's Performance Products (U.K.) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Earl's Performance Products (U.K.) Limited. You consider that Earl's Performance Products (U.K.) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Earl's Performance Products (U.K.) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


Date: .............................................