REGISTERED NUMBER: 01344634 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Wrightpart Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

S J Wright

D J Clack

SECRETARY:

D J Clack

REGISTERED OFFICE:

23 Farthing Road

Ipswich

Suffolk

IP1 5AP

REGISTERED NUMBER:

01344634 (England and Wales)

ACCOUNTANTS:

Knights Lowe

The Barn

11 Bury Road

Thetford

Norfolk

IP24 3PJ

FIXED ASSETS

Tangible assets

4

172,550

97,385

CURRENT ASSETS

Stocks

498,681

478,166

Debtors

5

953,025

1,072,920

Cash at bank

257,710

303,190

1,709,416

1,854,276

CREDITORS

Amounts falling due within one year

6

465,300

568,674

NET CURRENT ASSETS

1,244,116

1,285,602

TOTAL ASSETS LESS CURRENT LIABILITIES

1,416,666

1,382,987

CREDITORS

Amounts falling due after more than one year

7

(21,379

)

(23,981

)

PROVISIONS FOR LIABILITIES

10

(42,629

)

(23,748

)

NET ASSETS

1,352,658

1,335,258

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

1,351,658

1,334,258

SHAREHOLDERS' FUNDS

1,352,658

1,335,258

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

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

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 18 August 2025 and were signed on its behalf by:

S J Wright - Director

1.	STATUTORY INFORMATION

Wrightpart Limited 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the significant risks and rewards of ownership of the sale of goods has transferred to the buyer.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Basic financial instruments are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occured at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

282,659

Additions

120,830

Disposals

(74,556

)

At 31 December 2024

328,933

DEPRECIATION

At 1 January 2024

185,274

Charge for year

45,660

Eliminated on disposal

(74,551

)

At 31 December 2024

156,383

NET BOOK VALUE

At 31 December 2024

172,550

At 31 December 2023

97,385

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

107,568

Additions

23,052

Transfer to ownership

(15,135

)

At 31 December 2024

115,485

DEPRECIATION

At 1 January 2024

55,448

Charge for year

30,599

Transfer to ownership

(15,135

)

At 31 December 2024

70,912

NET BOOK VALUE

At 31 December 2024

44,573

At 31 December 2023

52,120

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

388,470

478,644

Amounts owed by group undertaking

544,284

574,284

Other debtors

20,271

19,992

953,025

1,072,920

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 8)

20,288

22,454

Trade creditors

320,903

385,102

Taxation and social security

81,063

115,632

Other creditors

43,046

45,486

465,300

568,674

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 8)

21,379

23,981

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

20,288

22,454

Between one and five years

21,379

23,981

41,667

46,435

Non-cancellable

operating leases

2024

2023

£

£

Within one year

29,291

24,447

Between one and five years

98,894

111,288

In more than five years

-

12,810

128,185

148,545

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

41,667

46,435

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Capital allowances in excess of depreciation

42,629

23,748

Deferred

tax

£

Balance at 1 January 2024

23,748

Provided during year

18,881

Balance at 31 December 2024

42,629

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Wrightpart Holdings Limited.

Registered office:

23 Farthing Road

Ipswich

Suffolk

IP1 5AP