WRS Motor Factors Limited 31/03/2025 iXBRL

Company registration number: 08966386

WRS Motor Factors Limited

Unaudited filleted financial statements

31 March 2025

Brooking Ruse

Chartered Accountants

2 Stafford Place

Weston-super-Mare

Somerset

BS23 2QZ

WRS Motor Factors Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

WRS Motor Factors Limited

Directors and other information


	Directors	R.A. Hopkins
		L.C. Hopkins


	Company number	08966386


	Registered office	The Old Creamery
		Brimbleworth Lane
		St. Georges
		Weston-super-Mare
		BS22 7XS


	Accountants	Brooking Ruse
		2 Stafford Place
		Weston-super-Mare
		Somerset
		BS23 2QZ

WRS Motor Factors Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of WRS Motor Factors Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WRS Motor Factors Limited for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of WRS Motor Factors Limited, as a body, in accordance with the terms of our engagement letter dated 27 June 2016. Our work has been undertaken solely to prepare for your approval the financial statements of WRS Motor Factors Limited and state those matters that we have agreed to state to the board of directors of WRS Motor Factors Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WRS Motor Factors Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that WRS Motor Factors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WRS Motor Factors Limited. You consider that WRS Motor Factors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of WRS Motor Factors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Brooking Ruse

Chartered Accountants

2 Stafford Place

Weston-super-Mare

Somerset

BS23 2QZ

WRS Motor Factors Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	14,446		10,060
		_______		_______
			14,446		10,060

Current assets
Stocks		357,847		368,654
Debtors	6	387,578		353,851
Cash at bank and in hand		13,416		51,397
		_______		_______
		758,841		773,902
Creditors: amounts falling due
within one year	7	( 348,964)		( 388,050)
		_______		_______
Net current assets			409,877		385,852
			_______		_______
Total assets less current liabilities			424,323		395,912

Creditors: amounts falling due
after more than one year	8		( 4,013)		( 28,025)
			_______		_______
Net assets			420,310		367,887
			_______		_______

Capital and reserves
Called up share capital			500		500
Profit and loss account			419,810		367,387
			_______		_______
Shareholders funds			420,310		367,887
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 05 September 2025 , and are signed on behalf of the board by:

R.A. Hopkins

Director

Company registration number: 08966386

WRS Motor Factors Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Creamery, Brimbleworth Lane, St. Georges, Weston-super-Mare, BS22 7XS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	25 %	reducing balance
Motor vehicles	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2024: 16 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	3,024	2,782	29,017	34,823
Additions	-	-	10,045	10,045
	_______	_______	_______	_______
At 31 March 2025	3,024	2,782	39,062	44,868
	_______	_______	_______	_______
Depreciation
At 1 April 2024	2,430	2,297	20,036	24,763
Charge for the year	119	121	5,419	5,659
	_______	_______	_______	_______
At 31 March 2025	2,549	2,418	25,455	30,422
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	475	364	13,607	14,446
	_______	_______	_______	_______
At 31 March 2024	594	485	8,981	10,060
	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	243,897	267,903
Other debtors	143,681	85,948
	_______	_______
	387,578	353,851
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	24,000	24,000
Trade creditors	250,729	271,255
Social security and other taxes	62,063	82,062
Other creditors	12,172	10,733
	_______	_______
	348,964	388,050
	_______	_______

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	4,013	28,025
	_______	_______

9. Controlling party

The directors own 100% of the issued share capital.