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REGISTERED NUMBER: 11348681 (England and Wales)


















PARTMART AUTOMOTIVE RECYCLING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






PARTMART AUTOMOTIVE RECYCLING LTD (REGISTERED NUMBER: 11348681)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PARTMART AUTOMOTIVE RECYCLING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: I C Jenkins
C Jenkins





REGISTERED OFFICE: New Road
Tir-Y-Berth
Hengoed
United Kingdom
CF82 8AU





REGISTERED NUMBER: 11348681 (England and Wales)





ACCOUNTANTS: MHA (trading name of MHA Advisory Limited)
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

PARTMART AUTOMOTIVE RECYCLING LTD (REGISTERED NUMBER: 11348681)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 3 - 4,400
Tangible assets 4 334,159 349,923
334,159 354,323

CURRENT ASSETS
Stocks 149,498 134,498
Debtors 5 110,306 116,649
Cash at bank and in hand 192,098 358,467
451,902 609,614
CREDITORS
Amounts falling due within one year 6 (285,463 ) (466,907 )
NET CURRENT ASSETS 166,439 142,707
TOTAL ASSETS LESS CURRENT
LIABILITIES

500,598

497,030

PROVISIONS FOR LIABILITIES (80,473 ) (82,389 )
NET ASSETS 420,125 414,641

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 420,123 414,639
420,125 414,641

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 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2025 and were signed on its behalf by:




I C Jenkins - Director


PARTMART AUTOMOTIVE RECYCLING LTD (REGISTERED NUMBER: 11348681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of sixteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and Buildings 25% on reducing balance
Plant and Machinery 25% on reducing balance
Fixtures and Fittings 25% on reducing balance
Motor Vehicles 25% 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 Profit and loss account, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

PARTMART AUTOMOTIVE RECYCLING LTD (REGISTERED NUMBER: 11348681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 22,000 13,063 35,063
AMORTISATION
At 1 September 2023 17,600 13,063 30,663
Charge for year 4,400 - 4,400
At 31 August 2024 22,000 13,063 35,063
NET BOOK VALUE
At 31 August 2024 - - -
At 31 August 2023 4,400 - 4,400

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery Fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 6,658 559,260 23,204 201,531 790,653
Additions - - 8,236 67,766 76,002
Disposals - (194 ) - - (194 )
At 31 August 2024 6,658 559,066 31,440 269,297 866,461
DEPRECIATION
At 1 September 2023 5,077 324,893 8,148 102,612 440,730
Charge for year 394 58,594 5,190 27,554 91,732
Eliminated on disposal - (160 ) - - (160 )
At 31 August 2024 5,471 383,327 13,338 130,166 532,302
NET BOOK VALUE
At 31 August 2024 1,187 175,739 18,102 139,131 334,159
At 31 August 2023 1,581 234,367 15,056 98,919 349,923

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 101,923 111,305
Other debtors 5,184 -
Corporation tax - 3,839
Prepayments and accrued income 3,199 1,505
110,306 116,649

PARTMART AUTOMOTIVE RECYCLING LTD (REGISTERED NUMBER: 11348681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,914 21,476
Corporation tax 4,228 -
Social security and other taxes 2 (1,101 )
VAT 10,867 37,159
Other creditors 2,384 907
Directors' current accounts 224,068 383,465
Accruals and deferred income 24,000 25,001
285,463 466,907