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Company registration number: 04717158
Vendparts Ltd.
Unaudited filleted financial statements
31 March 2025
Vendparts Ltd.
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Vendparts Ltd.
Directors and other information
Director Mr D Breckon
Secretary L J Moor
Company number 04717158
Registered office Unit 3
Engine Shed Lane
Skipton
North Yorkshire
BD23 1UP
Business address Unit 3
Engine Shed Lane
Skipton
North Yorkshire
BD23 1UP
Accountants Windle & Bowker Limited
Croft House
Station Road
Barnoldswick
Lancashire
BB18 5NA
Vendparts Ltd.
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 6,431 8,575
_______ _______
6,431 8,575
Current assets
Stocks 30,212 35,591
Debtors 7 12,709 15,117
Cash at bank and in hand 14,592 16,635
_______ _______
57,513 67,343
Creditors: amounts falling due
within one year 8 ( 19,833) ( 20,567)
_______ _______
Net current assets 37,680 46,776
_______ _______
Total assets less current liabilities 44,111 55,351
_______ _______
Net assets 44,111 55,351
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 43,111 54,351
_______ _______
Shareholders funds 44,111 55,351
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 July 2025 , and are signed on behalf of the board by:
Mr D Breckon
Director
Company registration number: 04717158
Vendparts Ltd.
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Vendparts Limited, Unit 3, Engine Shed Lane, Skipton, North Yorkshire, BD23 1UP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 33 % straight line
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2024 and 31 March 2025 155,000 155,000
_______ _______
Amortisation
At 1 April 2024 and 31 March 2025 155,000 155,000
_______ _______
Carrying amount
At 31 March 2025 - -
_______ _______
At 31 March 2024 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2024 and 31 March 2025 3,637 79,569 83,206
_______ _______ _______
Depreciation
At 1 April 2024 3,637 70,994 74,631
Charge for the year - 2,144 2,144
_______ _______ _______
At 31 March 2025 3,637 73,138 76,775
_______ _______ _______
Carrying amount
At 31 March 2025 - 6,431 6,431
_______ _______ _______
At 31 March 2024 - 8,575 8,575
_______ _______ _______
7. Debtors
2025 2024
£ £
Trade debtors 12,413 15,117
Other debtors 296 -
_______ _______
12,709 15,117
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 13,343 14,181
Corporation tax - 296
Social security and other taxes 1,406 1,339
Other creditors 5,084 4,751
_______ _______
19,833 20,567
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr D Breckon ( 1,751) 14,018 ( 12,803) ( 536)
_______ _______ _______ _______
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr D Breckon ( 2,351) 1,600 ( 1,000) ( 1,751)
_______ _______ _______ _______
The amounts are made up of several transactions all less than £2,000 and of no material nature.
10. Related party transactions
During the year dividends totalling £2,000 (31 March 2024 - £1,000) were paid to the Director.
11. Controlling party
The company is 100% controlled by the director.