REGISTERED NUMBER: 06249413 (England and Wales)

Newtown Motor Parts Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Fish

R D Fish

Mrs E C Griffiths

SECRETARY:

Mrs E C Griffiths

REGISTERED OFFICE:

47 Weeping Cross Lane

Ludlow

SHROPSHIRE

SY8 1JH

REGISTERED NUMBER:

06249413 (England and Wales)

ACCOUNTANTS:

Streets Dyke Ruscoe Ltd

110 Corve Street

Ludlow

SHROPSHIRE

SY8 1DJ

FIXED ASSETS

Intangible assets

4

18,000

22,500

Tangible assets

5

249,932

161,986

267,932

184,486

CURRENT ASSETS

Stocks

333,656

329,000

Debtors

6

803,580

691,924

Cash at bank and in hand

948,207

959,443

2,085,443

1,980,367

CREDITORS

Amounts falling due within one year

7

560,432

563,890

NET CURRENT ASSETS

1,525,011

1,416,477

TOTAL ASSETS LESS CURRENT LIABILITIES

1,792,943

1,600,963

PROVISIONS FOR LIABILITIES

38,497

39,644

NET ASSETS

1,754,446

1,561,319

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,754,346

1,561,219

SHAREHOLDERS' FUNDS

1,754,446

1,561,319

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 31 August 2025 and were signed on its behalf by:

R Fish - Director

R D Fish - Director

Mrs E C Griffiths - Director

1.	STATUTORY INFORMATION

Newtown Motor Parts Ltd 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

90,000

AMORTISATION

At 1 January 2024

67,500

Amortisation for year

4,500

At 31 December 2024

72,000

NET BOOK VALUE

At 31 December 2024

18,000

At 31 December 2023

22,500

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2024

-

3,629

9,337

Additions

94,990

-

-

Disposals

-

-

-

At 31 December 2024

94,990

3,629

9,337

DEPRECIATION

At 1 January 2024

-

218

5,844

Charge for year

-

72

699

Eliminated on disposal

-

-

-

At 31 December 2024

-

290

6,543

NET BOOK VALUE

At 31 December 2024

94,990

3,339

2,794

At 31 December 2023

-

3,411

3,493

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

67,650

147,571

24,639

252,826

Additions

341

27,495

-

122,826

Disposals

-

(14,742

)

-

(14,742

)

At 31 December 2024

67,991

160,324

24,639

360,910

DEPRECIATION

At 1 January 2024

29,961

30,957

23,860

90,840

Charge for year

3,796

26,692

511

31,770

Eliminated on disposal

-

(11,632

)

-

(11,632

)

At 31 December 2024

33,757

46,017

24,371

110,978

NET BOOK VALUE

At 31 December 2024

34,234

114,307

268

249,932

At 31 December 2023

37,689

116,614

779

161,986

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

768,318

666,165

Other debtors

19,739

12,859

VAT

1,323

-

Prepayments

14,200

12,900

803,580

691,924

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

333,573

275,721

Tax

67,154

73,826

Social security and other taxes

13,162

11,011

VAT

-

26,011

Other creditors

45,814

44,842

Directors' current accounts

76,536

104,621

Accrued expenses

24,193

27,858

560,432

563,890

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Interest has been charged to the company by the directors on the loans included within creditors. The interest has been charged at a market rate of 12%.

9.	RELATED PARTY DISCLOSURES

Newtown Motor Parts Ltd pays rent to entities in which the directors have an interest of £13,430.95 (2023: £16,117)

Newtown Motor Parts Ltd has paid rent to the directors in the year of £16,569.00 (2023: £19,883)