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Registered number: 12939720
JDM Car Parts (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Indigo Green Accountants Limited
Chartered Accountants
The Boar Shed
Shirlheath
Kingsland
Herefordshire
HR6 9RJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12939720
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 4,364 1,197
4,364 1,197
CURRENT ASSETS
Stocks 6 48,000 26,000
Debtors 7 5,669 15,662
Cash at bank and in hand 48,601 17,361
102,270 59,023
Creditors: Amounts Falling Due Within One Year 8 (42,191 ) (20,948 )
NET CURRENT ASSETS (LIABILITIES) 60,079 38,075
TOTAL ASSETS LESS CURRENT LIABILITIES 64,443 39,272
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,091 ) (227 )
NET ASSETS 63,352 39,045
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 63,252 38,945
SHAREHOLDERS' FUNDS 63,352 39,045
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gary Edwards
Director
25 July 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JDM Car Parts (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12939720 . The registered office is The Boar Shed Shirlheath, Kingsland, Leominster, Herefordshire, HR6 9RJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
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. 
Formation costs have been fully amortised in previous years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Computer Equipment 20% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Financial Instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year or on demand
are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss
in other operating expenses.
Basic financial instruments are recognised at amortised cost using the effective interest method, except
for investments in nonconvertible preference and non puttable ordinary shares which are measured at fair
value, with changes recognised in the profit and loss. Derivative financial instruments are intially recorded
at cost and thereafter at fair value with changes recognised in profit or loss.
Directors loans are recognised at transaction price.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Website Development
Costs relating to the development of a website for selling online are recognised in the profit and loss account when they are incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 215
Disposals (215 )
As at 31 October 2024 -
Amortisation
As at 1 November 2023 215
Disposals (215 )
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 -
As at 1 November 2023 -
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 1,337 575 1,912
Additions 2,250 1,374 3,624
As at 31 October 2024 3,587 1,949 5,536
Depreciation
As at 1 November 2023 591 124 715
Provided during the period 263 194 457
As at 31 October 2024 854 318 1,172
Net Book Value
As at 31 October 2024 2,733 1,631 4,364
As at 1 November 2023 746 451 1,197
6. Stocks
2024 2023
£ £
Stock 48,000 26,000
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,784 3,136
Prepayments and accrued income 356 110
Other debtors 3,529 -
VAT - 8,810
Director's loan account - 3,606
5,669 15,662
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,111 8,453
Corporation tax 20,501 10,760
Other taxes and social security 278 112
VAT 9,130 -
Net wages 1,821 1,338
Other creditors 101 -
Accruals and deferred income - 285
Director's loan account 4,249 -
42,191 20,948
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Gary Edwards 3,606 14,058 17,664 - -
The above loan is unsecured, interest free and repayable on demand.
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