REGISTERED NUMBER: 03479951 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

THE NORDIC CAR COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D A Peacock

SECRETARY:

I J Bugby

REGISTERED OFFICE:

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

REGISTERED NUMBER:

03479951 (England and Wales)

ACCOUNTANTS:

RJP LLP

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

FIXED ASSETS

Tangible assets

4

378

5,013

CURRENT ASSETS

Stocks

364,301

385,265

Debtors

5

181,400

522,924

Cash at bank and in hand

27,430

38,045

573,131

946,234

CREDITORS

Amounts falling due within one year

6

489,532

885,812

NET CURRENT ASSETS

83,599

60,422

TOTAL ASSETS LESS CURRENT LIABILITIES

83,977

65,435

CREDITORS

Amounts falling due after more than one year

7

6,727

20,820

NET ASSETS

77,250

44,615

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

77,150

44,515

SHAREHOLDERS' FUNDS

77,250

44,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 September 2025 and were signed by:

D A Peacock - Director

1.	STATUTORY INFORMATION

The Nordic Car Company Limited 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 represents net invoiced sales of vehicle parts, marketing and warehouse management services excluding Value Added Tax.

Turnover is recognised once the vehicle parts have been supplied or services have been provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33.33% 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.

Cost is based on the cost of purchase including delivery charges.

Net realisable value is based on estimated selling prices.

Taxation

Taxation for the year comprises current 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 tax 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Invoice discounting policy

The company uses an invoice discount facility and retains all significant benefits and risks relating to debts. The gross amount of the debts are included within assets and a corresponding liability in respect of proceeds received from the facility are shown within liabilities. The interest and charges are recognised as they accrue and are included in the profit and loss account with other interest charges.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

271,494

Disposals

(55,000

)

At 30 September 2024

216,494

DEPRECIATION

At 1 October 2023

266,481

Charge for year

4,635

Eliminated on disposal

(55,000

)

At 30 September 2024

216,116

NET BOOK VALUE

At 30 September 2024

378

At 30 September 2023

5,013

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2023

113,250

Disposals

(55,000

)

At 30 September 2024

58,250

DEPRECIATION

At 1 October 2023

109,812

Charge for year

3,438

Eliminated on disposal

(55,000

)

At 30 September 2024

58,250

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

3,438

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade debtors

147,675

174,205

Other debtors

33,725

348,719

181,400

522,924

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans and overdrafts

46,870

92,179

Hire purchase contracts (see note 8)

-

11,673

Trade creditors

201,456

535,082

Taxation and social security

143,392

168,427

Other creditors

97,814

78,451

489,532

885,812

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans

6,727

16,803

Hire purchase contracts (see note 8)

-

4,017

6,727

20,820

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.9.24

30.9.23

£

£

Net obligations repayable:

Within one year

-

11,673

Between one and five years

-

4,017

-

15,690

Non-cancellable

operating leases

30.9.24

30.9.23

£

£

Within one year

73,333

172,206

Between one and five years

-

206,998

73,333

379,204

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.24

30.9.23

£

£

Bank overdrafts

36,222

81,535

Bank loans

17,375

27,447

Hire purchase contracts

-

15,690

53,597

124,672

All monies owed to HSBC Bank PLC are secured by a debenture comprising of a fixed and floating charge over all of the company's current and future assets.

HSBC Invoice Finance (UK) Limited hold a floating charge dated 14 June 2013, over the property or undertaking of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

£

100

Ordinary

£1

100

100

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 September 2024 and the period ended 30 September 2023:

30.9.24

30.9.23

£

£

Director

Balance outstanding at start of year

(3,465

)

49,395

Amounts advanced

173,267

126,846

Amounts repaid

(176,129

)

(179,706

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(6,327

)

(3,465

)

12.	RELATED PARTY DISCLOSURES

Loans made to shareholders with a participating interest amounted to £Nil (2023 - £38,496).