2023-10-012024-09-3030 September 2024Vital Parts Ltd08691889falseMichael David Holt31 October 202431 October 2024The principal activity of the company continued to be manufacture and distribution of plastic and rubber component parts.35 Coppertree CourtLooseMaidstone KentME15 9RW3835Ajaccts Software3.1.0 beta08691889bus:FullAccounts2023-10-012024-09-3008691889bus:FRS1022023-10-012024-09-3008691889bus:PrivateLimitedCompanyLtd2023-10-012024-09-3008691889bus:AuditExempt-NoAccountantsReport2023-10-012024-09-3008691889core:PlantMachinery2023-09-3008691889core:InvestmentPropertyIncludedWithinPPE2023-09-3008691889core:LandBuildings2023-09-3008691889core:FurnitureFittingsToolsEquipment2023-09-3008691889core:Vehicles2023-09-3008691889core:ComputerEquipment2023-09-3008691889core:PlantMachinery2024-09-3008691889core:InvestmentPropertyIncludedWithinPPE2024-09-3008691889core:LandBuildings2024-09-3008691889core:FurnitureFittingsToolsEquipment2024-09-3008691889core:Vehicles2024-09-3008691889core:ComputerEquipment2024-09-30086918892022-10-0108691889core:DevelopmentCostsPatentsSimilar2023-10-012024-09-3008691889core:DevelopmentCostsPatentsSimilar2024-09-3008691889core:DevelopmentCostsPatentsSimilar2023-09-3008691889core:DividendsProposed2023-10-012024-09-3008691889core:DividendsProposed2022-10-012023-09-3008691889core:LandBuildings2022-10-012023-09-3008691889core:PlantMachinery2022-10-012023-09-3008691889core:FurnitureFittingsToolsEquipment2022-10-012023-09-3008691889core:Vehicles2022-10-012023-09-3008691889core:ComputerEquipment2022-10-012023-09-3008691889core:InvestmentPropertyIncludedWithinPPE2023-10-012024-09-3008691889core:LandBuildings2023-10-012024-09-3008691889core:PlantMachinery2023-10-012024-09-3008691889core:FurnitureFittingsToolsEquipment2023-10-012024-09-3008691889core:Vehicles2023-10-012024-09-3008691889core:ComputerEquipment2023-10-012024-09-3008691889core:ComputerEquipment2022-10-0108691889core:ComputerEquipment2023-10-01086918892023-09-3008691889bus:Consolidated2023-09-30086918892024-09-3008691889bus:Consolidated2024-09-30086918892022-10-012023-09-3008691889bus:Consolidated2022-10-012023-09-30086918892023-10-012024-09-3008691889bus:Consolidated2023-10-012024-09-3008691889bus:CompanySecretaryDirector12023-10-012024-09-3008691889bus:Director12023-10-012024-09-3008691889bus:Director22023-10-012024-09-3008691889bus:Director32023-10-012024-09-3008691889bus:Director42023-10-012024-09-3008691889bus:Director52023-10-012024-09-3008691889bus:Director62023-10-012024-09-3008691889bus:Director72023-10-012024-09-3008691889bus:Director82023-10-012024-09-3008691889bus:Director92023-10-012024-09-3008691889bus:Director102023-10-012024-09-3008691889bus:Director112023-10-012024-09-3008691889bus:Director122023-10-012024-09-3008691889bus:Director132023-10-012024-09-3008691889bus:Director142023-10-012024-09-3008691889bus:Director152023-10-012024-09-3008691889bus:Director162023-10-012024-09-3008691889bus:Director172023-10-012024-09-3008691889bus:Director182023-10-012024-09-3008691889bus:Director192023-10-012024-09-3008691889bus:Director202023-10-012024-09-30086918892023-10-012024-09-3008691889bus:CompanySecretaryDirector12024-09-3008691889bus:Director12024-09-3008691889bus:Director22024-09-3008691889bus:CompanySecretaryDirector12023-10-012024-09-3008691889bus:Director12023-10-012024-09-3008691889bus:Director22023-10-012024-09-30086918892023-10-012024-09-3008691889bus:CompanySecretaryDirector12023-09-3008691889bus:Director12023-09-3008691889bus:Director22023-09-3008691889bus:EntityAccountantsOrAuditors2023-10-012024-09-3008691889bus:EntityAccountantsOrAuditors2023-10-012024-09-3008691889bus:EntityAccountantsOrAuditors2024-09-3008691889bus:RegisteredOffice2023-10-012024-09-3008691889bus:EntityBankers2023-10-012024-09-3008691889bus:EntityLawyersOrLegalAdvisers2023-10-012024-09-30xbrli:pureiso4217:GBPxbrli:shares
Filleted Unaudited Accounts for Vital Parts Ltd
Company Information and Financial Statements

For the Financial Year ended 30 September 2024

Company Information

Directors
Michael David Holt
Vital Parts Ltd is a Limited Company incorporated in the United Kingdom and registered in England and Wales.
Registered Office Address
Vital Parts Ltd
35 Coppertree Court
Loose
Maidstone Kent
ME15 9RW
Registered Number
08691889
Filleted Unaudited Financial Statements
Statement of Financial Position
at 30 September 2024
20242023
££
Fixed Assets
Intangible assets90,96192,255
Tangible assets573,21486,641
Investments--
164,175178,895
Current assets
Stocks831,482723,464
Debtors463,957269,154
Cash at bank and in hand204,257298,838
1,499,6971,291,456
Creditors: amounts falling due within one year4(596,656)(370,300)
Net current assets903,041921,156
Total assets less current liabilities1,067,2171,100,052
Creditors: amounts falling due after more than one year(270,635)(401,857)
Net Assets796,581698,195
Capital and Reserves
Called up Share Capital722
Profit and Loss account796,579698,193
Total Equity796,581698,195
Statement of Accordance with Small Companies regime, and Audit not required
The directors confirm that financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The directors confirm that the Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. No audit has been obtained
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The income statement and directors report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
Other Footnotes
None
Signature of Statement of Financial Position
Signed by
DirectorMichael David Holt
Approved by the board, 31 October 2024
Notes to the financial statements
at 30 September 2024
1. General Information
Vital Parts Ltd is a Limited company incorporated in the United Kingdom and registered in England and Wales.
Registered Office Address:
Vital Parts Ltd
35 Coppertree Court
Loose
Maidstone Kent
ME15 9RW
2. Basis of Preparation and Policies
The financial statements are prepared under the historical cost convention and in accordance with FRS 102 section 1A, the Financial Reporting Standard applicable in the UK and Republic of Ireland applicable to Smaller Entities.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Statement of Cash flows
Exempt from cash flow statement requirement : true
Accounting Policies
Turnover
Turnover represents revenue earned during the period, net of Value Added Tax.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery -- over a period of between 2 and 5 years straight line
Computer equipment -- over a period of 3 years straight line
Motor vehicles -- over a period of between 2 and 5 years straight line
The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.
Intangible fixed assets and amortisation
Intangible assets acquired separately from a business are capitalised at cost Intangible assets created within the business are not capitalised and expenditure is charged against profits in the year in which it is incurred.
Intangible assets are amortised on a straight line basis over their useful economic lives up to a maximum of 20 years. The carrying value of intangible assets is reviewed for impairment at the end of the first full year following acquisition and in other periods if events or changes in circumstance indicate that the carrying value may not be recoverable.
Other
3. Analysis of Debtors
Short term debtors : Trade Debtors
20242023
££
307,202244,646
Short term debtors : Prepayments
20242023
££
12,5388,612
Short term debtors : Others
20242023
££
26,34815,896
Directors Loan Account
20242023
££
117,869-
4. Analysis of Creditors
Short term creditors : Trade Creditors
20242023
££
256,221177,820
Short term creditors : Accruals
20242023
££
73,94545,333
Short term creditors : Bank Overdraft
20242023
££
--
Short term creditors : Other Loan/HP
20242023
££
41,610-
Short term creditors : Corporation Tax
20242023
££
67,74535,636
Short term creditors : VAT/Social Security
20242023
££
94,929107,990
Short term creditors : Dividends
20242023
££
--
Short term creditors : Others
20242023
££
62,2053,521
Group Undertakings
20242023
££
--
Long term creditors (incl. Directors Loans)
20242023
££
270,635401,857
5. Tangible fixed assets
Land/BuildingsPlant MachineryFixts, Fittings, EquipmentComputer EquipmentVehiclesTotal
££££££
Cost
At 30 September 202339,5489,46940,74355,2830145,044
Additions002,2493,11405,363
Disposals(0)(0)(0)(0)(0)(0)
Revaluations000000
At 30 September 202439,5489,46942,99258,3980150,407
Depreciation
At 30 September 20233,9553,94614,52135,982058,403
Charge for the year1,5822,5227,7146,972018,790
Eliminated this year(0)(0)(0)(0)(0)(0)
At 30 September 20245,5376,46722,23542,954077,193
Net book value
At 30 September 202335,5945,52426,22219,301086,641
At 30 September 202434,0123,00220,75715,443073,214
6. Intangible fixed assets
GoodwillOtherTotal
£££
Cost
At 30 September 2023097,11097,110
Additions018,12918,129
At 30 September 20240115,239115,239
Amortisation
At 30 September 202304,8564,856
Charge for the year019,42219,422
Eliminated this year(0)(0)(0)
At 30 September 2024024,27824,278
Net book value
At 30 September 2023092,25592,255
At 30 September 2024090,96190,961
7. Share Capital
Allotted, called up and fully paid
20242023
No£No£
Ordinary2222
Total2222
8. Ultimate Controlling Party
The ultimate controlling party is the Director(s)
9. Other Notes
The average number of employees in the year was 38 (Previous: 35)
End of Notes to Financial Statements