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REGISTERED NUMBER: 05893425 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Cambridge Motorsport Parts Limited

Cambridge Motorsport Parts Limited (Registered number: 05893425)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cambridge Motorsport Parts Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: J G Savage





SECRETARY: Ms R Wilkins





REGISTERED OFFICE: Unit 5, Lacre Way
Letchworth Garden City
Hertfordshire
SG6 1NR





REGISTERED NUMBER: 05893425 (England and Wales)





ACCOUNTANTS: D and E Accountancy Ltd
Tax Advisors and Accountants
2nd Floor, 2 Walsworth Road
Hitchin
Hertfordshire
SG4 9SP

Cambridge Motorsport Parts Limited (Registered number: 05893425)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 13,775 17,218

CURRENT ASSETS
Stocks 93,476 88,000
Debtors 5 14,080 47,810
Cash at bank 9,758 36,567
117,314 172,377
CREDITORS
Amounts falling due within one year 6 50,236 62,542
NET CURRENT ASSETS 67,078 109,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,853

127,053

CREDITORS
Amounts falling due after more than
one year

7

(23,880

)

(27,561

)

PROVISIONS FOR LIABILITIES 8 (2,617 ) (3,271 )
NET ASSETS 54,356 96,221

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 54,256 96,121
SHAREHOLDERS' FUNDS 54,356 96,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Cambridge Motorsport Parts Limited (Registered number: 05893425)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 May 2025 and were signed by:





J G Savage - Director


Cambridge Motorsport Parts Limited (Registered number: 05893425)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Cambridge Motorsport Parts 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.

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.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

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 Income Statement, 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.

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.

Cambridge Motorsport Parts Limited (Registered number: 05893425)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023
and 31 August 2024 1,231 14,377 77,369 92,977
DEPRECIATION
At 1 September 2023 871 13,086 61,802 75,759
Charge for year 72 258 3,113 3,443
At 31 August 2024 943 13,344 64,915 79,202
NET BOOK VALUE
At 31 August 2024 288 1,033 12,454 13,775
At 31 August 2023 360 1,291 15,567 17,218

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 8,879 33,391
Other debtors 5,201 14,419
14,080 47,810

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 37,859 38,048
Taxation and social security 1,783 13,681
Other creditors 10,594 10,813
50,236 62,542

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 23,880 27,561

Cambridge Motorsport Parts Limited (Registered number: 05893425)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 2,617 3,271

Deferred
tax
£   
Balance at 1 September 2023 3,271
Accelerated Capital Allowances (654 )
Balance at 31 August 2024 2,617

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 September 2023 96,121
Profit for the year 4,135
Dividends (46,000 )
At 31 August 2024 54,256

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
J G Savage
Balance outstanding at start of year 10,081 20,250
Amounts repaid (10,081 ) (10,169 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,081

12. ULTIMATE CONTROLLING PARTY

The Company is controlled by the director and sole shareholder.