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Company Registration No. 06458665 (England and Wales)
UK Performance Parts Limited Unaudited accounts for the year ended 31 December 2024
UK Performance Parts Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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UK Performance Parts Limited Company Information for the year ended 31 December 2024
Directors
Paul McCallum Deborah McCallum
Secretary
Paul McCallum
Company Number
06458665 (England and Wales)
Registered Office
61 Plodder Lane Farnworth BL4 0BX
Accountants
Daniel Sam Limited 61 Plodder Lane Farnworth Bolton BL4 0BX
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UK Performance Parts Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
1,605
186,818
Current assets
Inventories
169,816
36,984
Debtors
5
33,359
52,922
Cash at bank and in hand
2,692
1,675
205,867
91,581
Creditors: amounts falling due within one year
6
(15,825)
(67,330)
Net current assets
190,042
24,251
Total assets less current liabilities
191,647
211,069
Creditors: amounts falling due after more than one year
7
(221,757)
(233,786)
Provisions for liabilities
Deferred tax
(402)
-
Net liabilities
(30,512)
(22,717)
Capital and reserves
Called up share capital
102
102
Profit and loss account
(30,614)
(22,819)
Shareholders' funds
(30,512)
(22,717)
For the year ending 31 December 2024 the company was 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by
Paul McCallum Director Company Registration No. 06458665
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UK Performance Parts Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
UK Performance Parts Limited is a private company, limited by shares, registered in England and Wales, registration number 06458665. The registered office is 61 Plodder Lane, Farnworth, BL4 0BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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UK Performance Parts Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 January 2024
293,862
Disposals
(277,216)
At 31 December 2024
16,646
Depreciation
At 1 January 2024
107,044
Charge for the year
402
On disposals
(92,405)
At 31 December 2024
15,041
Net book value
At 31 December 2024
1,605
At 31 December 2023
186,818
5
Debtors
2024
2023
£
£
Amounts falling due within one year
Accrued income and prepayments
33,359
31,561
Other debtors
-
21,361
33,359
52,922
6
Creditors: amounts falling due within one year
2024
2023
£
£
VAT
4,502
547
Obligations under finance leases and hire purchase contracts
-
58,278
Trade creditors
6,079
3,266
Taxes and social security
279
-
Other creditors
255
-
Loans from directors
4,386
4,376
Accruals
324
863
15,825
67,330
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Obligations under finance leases and hire purchase contracts
-
98,185
Amounts owed to group undertakings and other participating interests
221,757
135,601
221,757
233,786
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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