Registered number
07390307
Car Parts Group Limited
Unaudited Filleted Accounts
31 December 2024
Car Parts Group Limited
Registered number: 07390307
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 5,676,294 4,699,851
Current assets
Cash at bank and in hand 48 48
Creditors: amounts falling due within one year 4 (1,000) (945)
Net current liabilities (952) (897)
Total assets less current liabilities 5,675,342 4,698,954
Creditors: amounts falling due after more than one year 5 (1,318,996) (1,319,318)
Net assets 4,356,346 3,379,636
Capital and reserves
Called up share capital 6 1,952,286 2,600,180
Profit and loss account 2,404,060 779,456
Shareholders' funds 4,356,346 3,379,636
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J S Whateley
Director
Approved by the board on 18 September 2025
Car Parts Group Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2024 4,699,851
Additions 976,443
At 31 December 2024 5,676,294
During the year the company acquired 100% of the shares in Wood & Pickett Mini Centre Limited, Xpart Limited, Anglo Parts NV and 10% of the shares in Millvale Engineering Limited in exchange for shares in Car Parts Group Limited.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,000 945
5 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to associated undertakings and undertakings in which the company has a participating interest 1,318,996 1,319,318
6 Share Capital
During the year the company:
Alloted 300 Ordinary £1 shares in exchange for 100 Ordinary shares in Xpart Limited and 200 Ordinary £1 shares in Wood & Pickett Mini Centre Limited.
Redesignated A, B and C Ordinary shares to Ordinary £1 shares.
Undertook a share capital reduction by cancelling 1,624,337 Ordinary £1 shares with a corresponding increase to the profit and loss reserve.
Alloted 976,143 Ordinary £1 B shares for the purchase of 10% of the share capital of Millvale Engineering Limited and 100% of the share capital of Anglo Parts NV.
7 Related party transactions 2024 2023
£ £
Motaclan Limited
Subsidiary company
In the year ended 31 December 2024, Motaclan Limited charged the company £16,695 (2023: £995) for professional services. The company charged Motaclan Limited £25,000 (2023: £1,000) for management services.
Amount due to Motaclan Limited 1,318,996 1,319,318
8 Controlling party
There is no controlling party.
9 Other information
Car Parts Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 14/15
Erdington Industrial Park
Chester Road
Birmingham
B24 0RD
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