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REGISTERED NUMBER: 12243343 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 October 2024

for

Car Things Ltd

Car Things Ltd (Registered number: 12243343)

Contents of the Financial Statements
For The Year Ended 31 October 2024










Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Car Things Ltd

Company Information
For The Year Ended 31 October 2024







DIRECTORS: Mr M S S Mundy
Mr A Sydorenko





REGISTERED OFFICE: 26 Vision Business Park
Preston Place
Upper Caldecote
Bedfordshire
SG18 9GH





REGISTERED NUMBER: 12243343 (England and Wales)





ACCOUNTANTS: Ashwells Associates Limited
Chartered Certified Accountants
54a Church Road
Ashford
Middlesex
TW15 2TS

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Car Things Ltd


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 Statement of Financial Position. 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 Car Things Ltd for the year ended 31 October 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Car Things Ltd, 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 Car Things Ltd and state those matters that we have agreed to state to the Board of Directors of Car Things Ltd, 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 Car Things Ltd 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 profit of Car Things Ltd. You consider that Car Things Ltd 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 Car Things Ltd. 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.






Ashwells Associates Limited
Chartered Certified Accountants
54a Church Road
Ashford
Middlesex
TW15 2TS


13 May 2025

Car Things Ltd (Registered number: 12243343)

Statement of Financial Position
31 October 2024

31/10/24 31/10/23
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,422,798 405,745

CURRENT ASSETS
Inventories 811,289 956,816
Debtors 5 353,642 180,522
Cash at bank 257,489 171,263
1,422,420 1,308,601
CREDITORS
Amounts falling due within one year 6 1,320,658 734,231
NET CURRENT ASSETS 101,762 574,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,524,560

980,115

CREDITORS
Amounts falling due after more than one
year

7

(618,117

)

(406,075

)

PROVISIONS FOR LIABILITIES 8 (85,612 ) (52,532 )
NET ASSETS 820,831 521,508

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 820,829 521,506
820,831 521,508

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Car Things Ltd (Registered number: 12243343)

Statement of Financial Position - continued
31 October 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 Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by:




Mr M S S Mundy - Director



Mr A Sydorenko - Director


Car Things Ltd (Registered number: 12243343)

Notes to the Financial Statements
For The Year Ended 31 October 2024


1. STATUTORY INFORMATION

Car Things Ltd 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
Revenue 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Car Things Ltd (Registered number: 12243343)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 8 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2023 - 93,147 19,008
Additions 264,793 407,639 4,237
Disposals - - -
At 31 October 2024 264,793 500,786 23,245
DEPRECIATION
At 1 November 2023 - 20,740 9,804
Charge for year 4,413 57,669 6,877
Eliminated on disposal - - -
At 31 October 2024 4,413 78,409 16,681
NET BOOK VALUE
At 31 October 2024 260,380 422,377 6,564
At 31 October 2023 - 72,407 9,204

Car Things Ltd (Registered number: 12243343)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024


4. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 431,972 9,158 553,285
Additions 687,158 3,267 1,367,094
Disposals (263,995 ) - (263,995 )
At 31 October 2024 855,135 12,425 1,656,384
DEPRECIATION
At 1 November 2023 113,217 3,779 147,540
Charge for year 96,287 2,249 167,495
Eliminated on disposal (81,449 ) - (81,449 )
At 31 October 2024 128,055 6,028 233,586
NET BOOK VALUE
At 31 October 2024 727,080 6,397 1,422,798
At 31 October 2023 318,755 5,379 405,745

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/24 31/10/23
£    £   
Trade debtors 67,113 104,263
Amounts owed by group undertakings 21,565 20,800
Other debtors 264,964 55,459
353,642 180,522

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/24 31/10/23
£    £   
Bank loans and overdrafts 741,219 428,061
Hire purchase contracts 55,014 42,494
Trade creditors 198,313 78,296
Taxation and social security 280,732 155,113
Other creditors 45,380 30,267
1,320,658 734,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/24 31/10/23
£    £   
Bank loans 169,319 43,680
Hire purchase contracts 448,798 362,395
618,117 406,075

Car Things Ltd (Registered number: 12243343)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024


8. PROVISIONS FOR LIABILITIES
31/10/24 31/10/23
£    £   
Deferred Tax Asset/Liability 85,612 52,532

Deferred
tax
£   
Balance at 1 November 2023 52,532
Provided during year 33,080
Balance at 31 October 2024 85,612

9. RELATED PARTY DISCLOSURES

Included in other creditors due within a year is an amount of £23,643 (2023 - £16,897) due to the directors of the company. The amount is interest free and repayable on demand.

The company was owed a sum of £20,800 from the entities that are in common control of the directors.