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Registration number: 04691357

The Starter Motor & Alternator Co Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

The Starter Motor & Alternator Co Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

The Starter Motor & Alternator Co Ltd

(Registration number: 04691357)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

6,186

7,643

 

6,187

7,644

Current assets

 

Stocks

410,000

402,445

Debtors

6

2,768

2,818

Cash at bank and in hand

 

88,917

47,762

 

501,685

453,025

Creditors: Amounts falling due within one year

7

(187,300)

(149,925)

Net current assets

 

314,385

303,100

Total assets less current liabilities

 

320,572

310,744

Creditors: Amounts falling due after more than one year

7

(4,281)

(8,628)

Provisions for liabilities

(1,865)

(2,025)

Net assets

 

314,426

300,091

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

313,426

299,091

Shareholders' funds

 

314,426

300,091

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 3 June 2025
 

 

The Starter Motor & Alternator Co Ltd

(Registration number: 04691357)
Statement of Financial Position as at 31 March 2025 (continued)


Mr J T Warne
Director

 

The Starter Motor & Alternator Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
40 Valley Road
Plymouth
Devon
PL7 1RF

Principal activity

The principal activity of the company is the sale of motor spares.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

 

The Starter Motor & Alternator Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures, fittings and equipment

25% straight line

Motor vehicles

25% reducing balance

 

The Starter Motor & Alternator Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

The Starter Motor & Alternator Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 5).

 

The Starter Motor & Alternator Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

60,000

60,000

At 31 March 2025

60,000

60,000

Amortisation

At 1 April 2024

59,999

59,999

At 31 March 2025

59,999

59,999

Carrying amount

At 31 March 2025

1

1

At 31 March 2024

1

1

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

907

13,001

15,390

29,298

Revaluations

-

810

-

810

Disposals

-

-

(6,395)

(6,395)

At 31 March 2025

907

13,811

8,995

23,713

Depreciation

At 1 April 2024

907

6,818

13,930

21,655

Charge for the year

-

1,048

81

1,129

Eliminated on disposal

-

-

(5,257)

(5,257)

At 31 March 2025

907

7,866

8,754

17,527

Carrying amount

At 31 March 2025

-

5,945

241

6,186

At 31 March 2024

-

6,183

1,460

7,643

 

The Starter Motor & Alternator Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Debtors

2025
£

2024
£

Prepayments

2,768

2,818

2,768

2,818

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Loans and borrowings

9

4,000

4,000

Trade creditors

 

20,123

21,688

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

18,120

-

Taxation and social security

 

66,499

46,024

Accruals and deferred income

 

3,065

2,958

Other creditors

 

75,493

75,255

 

187,300

149,925

Creditors include bank loans and overdrafts which are secured of £4,000 (2023 - £81,303).

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Loans and borrowings

9

4,281

8,628

Creditors include bank loans and overdrafts which are secured of £8,628 (2023 - £12,934).

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

The Starter Motor & Alternator Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

4,281

8,628

Current loans and borrowings

2025
£

2024
£

Bank borrowings

4,000

4,000

10

Related party transactions

The company operates from premises rented from its previous directors at a rent of £22,000 per annum (2024: £22,000).

Transactions with the director

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

Directors

(74,663)

2,000

(2,399)

(75,062)

         
       

 

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors

(22,872)

(131,921)

80,130

(74,663)

 

Loans from related parties

2025

Parent
£

Total
£

Advanced

100,000

100,000

Repaid

(81,880)

(81,880)

At end of period

18,120

18,120

11

Parent and ultimate parent undertaking

The company's immediate parent is J Warne Holdings Ltd, incorporated in England & Wales.