Company Registration No. 08964000 (England and Wales)
Jap Parts Europe Limited
Unaudited accounts
for the year ended 31 December 2024
Jap Parts Europe Limited
Unaudited accounts
Contents
Jap Parts Europe Limited
Company Information
for the year ended 31 December 2024
Directors
P McCallum
D McCallum
Company Number
08964000 (England and Wales)
Registered Office
61 Plodder Lane
Farnworth
Bolton
BL4 0BX
England
Accountants
Daniel Sam Limited
61 Plodder Lane
Farnworth
Bolton
BL4 0BX
Jap Parts Europe Limited
Statement of financial position
as at 31 December 2024
Tangible assets
730,022
855,799
Inventories
2,320,305
2,589,768
Cash at bank and in hand
48,132
116,539
Creditors: amounts falling due within one year
(1,017,971)
(1,061,846)
Net current assets
2,059,271
2,060,352
Total assets less current liabilities
2,789,379
2,916,151
Creditors: amounts falling due after more than one year
(1,457,654)
(1,581,335)
Net assets
1,331,725
1,334,816
Called up share capital
2
2
Profit and loss account
1,331,723
1,334,814
Shareholders' funds
1,331,725
1,334,816
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
P McCallum
Director
Company Registration No. 08964000
Jap Parts Europe Limited
Notes to the Accounts
for the year ended 31 December 2024
Jap Parts Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 08964000. The registered office is 61 Plodder Lane, Farnworth, Bolton, BL4 0BX, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Land & buildings
In accordance with the property
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
20% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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.
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.
Jap Parts Europe Limited
Notes to the Accounts
for the year ended 31 December 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 January 2024
3,014
200,901
951,408
32,904
31,204
1,219,431
Additions
3,438
21,674
92,480
16,520
9,225
143,337
Disposals
-
-
(156,363)
-
-
(156,363)
At 31 December 2024
6,452
222,575
887,525
49,424
40,429
1,206,405
At 1 January 2024
1,431
91,566
242,020
11,859
16,756
363,632
Charge for the year
492
22,623
144,035
5,358
3,793
176,301
On disposals
-
-
(63,550)
-
-
(63,550)
At 31 December 2024
1,923
114,189
322,505
17,217
20,549
476,383
At 31 December 2024
4,529
108,386
565,020
32,207
19,880
730,022
At 31 December 2023
1,583
109,335
709,388
21,045
14,448
855,799
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
38,487
22,733
- Motor vehicles
551,511
697,370
5
Investments
Subsidiary undertakings
Valuation at 1 January 2024
-
Valuation at 31 December 2024
86
Investments represent shareholdings in the following subsidiaries:
Proven Performance BV - 100%
Jap Parts Europe Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Deferred tax asset
18,859
6,652
Accrued income and prepayments
447,031
177,913
Other debtors
12,783
76,722
Amounts falling due after more than one year
Amounts due from group undertakings etc.
157,425
114,604
Other debtors
69,588
40,000
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
131,013
158,202
Obligations under finance leases and hire purchase contracts
155,492
157,399
Trade creditors
215,748
164,078
Taxes and social security
85,303
121,274
Other creditors
6,976
140,899
Loans from directors
5,573
68
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
510,659
600,336
Amounts owed to group undertakings and other participating interests
941,995
965,999
9
Transactions with related parties
As at 31 December 2024, the following loan balances existed between group companies:
£941,995 owed to DPM Holdings NW Limited
£113,763 owed from UK Performance Parts Limited
£43,661 owed from Proven Performance BV
The company is a wholly owned subsidiary of DPM Holdings NW Limited.
11
Average number of employees
During the year the average number of employees was 33 (2023: 29).