REGISTERED NUMBER: 09151472 (England and Wales)

Rheidol 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

Mrs R A 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:

09151472 (England and Wales)

ACCOUNTANTS:

Streets Dyke Ruscoe Ltd

110 Corve Street

Ludlow

SHROPSHIRE

SY8 1DJ

FIXED ASSETS

Intangible assets

4

76,353

86,709

Tangible assets

5

62,527

44,639

138,880

131,348

CURRENT ASSETS

Stocks

337,421

348,657

Debtors

6

405,906

520,893

Cash at bank and in hand

96,696

138,545

840,023

1,008,095

CREDITORS

Amounts falling due within one year

7

305,700

513,181

NET CURRENT ASSETS

534,323

494,914

TOTAL ASSETS LESS CURRENT LIABILITIES

673,203

626,262

PROVISIONS FOR LIABILITIES

15,632

11,160

NET ASSETS

657,571

615,102

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

657,471

615,002

SHAREHOLDERS' FUNDS

657,571

615,102

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

Mrs R A Fish - Director

R D Fish - Director

Mrs E C Griffiths - Director

1.	STATUTORY INFORMATION

Rheidol 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 2022, is being amortised evenly over its estimated useful life of ten 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.

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.

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 17 (2023 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

103,563

AMORTISATION

At 1 January 2024

16,854

Charge for year

10,356

At 31 December 2024

27,210

NET BOOK VALUE

At 31 December 2024

76,353

At 31 December 2023

86,709

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

3,045

3,574

58,227

10,514

75,360

Additions

-

-

36,950

-

36,950

Disposals

-

-

(6,001

)

-

(6,001

)

At 31 December 2024

3,045

3,574

89,176

10,514

106,309

DEPRECIATION

At 1 January 2024

2,636

1,869

16,142

10,074

30,721

Charge for year

82

171

13,326

236

13,815

Eliminated on disposal

-

-

(754

)

-

(754

)

At 31 December 2024

2,718

2,040

28,714

10,310

43,782

NET BOOK VALUE

At 31 December 2024

327

1,534

60,462

204

62,527

At 31 December 2023

409

1,705

42,085

440

44,639

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

386,909

508,358

Other debtors

7,112

5,653

VAT

4,234

-

Prepayments

7,651

6,882

405,906

520,893

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

203,260

234,916

Tax

12,753

53,735

Social security and other taxes

8,237

9,259

VAT

-

12,636

Other creditors

76,276

197,716

Directors' current accounts

1,389

1,389

Accrued expenses

3,785

3,530

305,700

513,181

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No repayment terms have been set for the loan included within creditors and no interest has been charged by the directors.

9.	RELATED PARTY DISCLOSURES

Rheidol Motor Parts Ltd has paid rent to the directors in the year of £24,000 (2023: £24,000)