Computer Components Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

Computer Components Limited

(Registration number: 03425090)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	194,424	204,995
Current assets
Stocks	5	258,983	639,981
Debtors	6	1,438,355	2,439,037
Cash at bank and in hand		1,695,756	1,537,888
		3,393,094	4,616,906
Creditors: Amounts falling due within one year	7	(858,501)	(1,011,599)
Net current assets		2,534,593	3,605,307
Total assets less current liabilities		2,729,017	3,810,302
Provisions for liabilities		(16,498)	(13,910)
Net assets		2,712,519	3,796,392
Capital and reserves
Called up share capital		100	100
Profit and loss account		2,712,419	3,796,292
Shareholders' funds		2,712,519	3,796,392

For the financial year ending 31 December 2024 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

Mr A J Chinery Director

Computer Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is that of excess electronic inventory management services.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Computer Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Computer Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold improvements	25% straight line
Plant and machinery	20% reducing balance
Fittings fixtures and equipment	25% reducing balance
Motor vehicles	25% reducing balance
Computer equipment	33.33% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

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

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Computer Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2023 - 31).

Computer Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Freehold property £	Fixtures, fittings and equipment £	Plant and machinery £	Computer equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	208,584	161,976	97,318	289,786	42,030	799,694
Additions	18,250	5,597	23,647	14,441	-	61,935
At 31 December 2024	226,834	167,573	120,965	304,227	42,030	861,629
Depreciation
At 1 January 2024	98,500	137,540	64,184	274,601	19,874	594,699
Charge for the year	37,602	6,494	11,375	11,495	5,540	72,506
At 31 December 2024	136,102	144,034	75,559	286,096	25,414	667,205
Carrying amount
At 31 December 2024	90,732	23,539	45,406	18,131	16,616	194,424
At 31 December 2023	110,084	24,436	33,134	15,185	22,156	204,995

5

Stocks

	2024 £	2023 £
Finished goods and goods for resale	258,983	639,981

6

Debtors

	Note	2024 £	2023 £
Trade debtors		438,830	691,826
Other debtors		963,498	1,648,421
Prepayments		36,027	35,809
Income tax asset		-	62,981
		1,438,355	2,439,037

Computer Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	589,834	910,309
Taxation and social security	184,984	45,979
Accruals and deferred income	50,078	42,211
Other creditors	33,605	13,100
	858,501	1,011,599

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	1,790	11,987

10	Contingent assets and liabilities

National Westminster Bank Plc holds a debenture over all of the assets of the company.

11	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Directors	1,462,986	898,080	(1,462,986)	898,080

Computer Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

11	Related party transactions (continued)

2023	At 1 January 2023 £	Advances to director £	Repayments by director £	At 31 December 2023 £
Directors	1,489,857	1,463,129	(1,490,000)	1,462,986

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.