REGISTERED NUMBER: 08822875 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

UK Truckparts Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr G Culora

REGISTERED OFFICE:

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

REGISTERED NUMBER:

08822875 (England and Wales)

SENIOR STATUTORY AUDITOR:

Iain McMurray ACA

AUDITORS:

Thickbroom Coventry

Chartered Accountants

and Statutory Auditors

147a High Street

Waltham Cross

EN8 7AP

FIXED ASSETS

Tangible assets

4

258,916

244,826

CURRENT ASSETS

Stocks

1,081,298

798,312

Debtors

5

2,200,151

2,727,145

Cash at bank

78,568

177,700

3,360,017

3,703,157

CREDITORS

Amounts falling due within one year

6

(1,437,950

)

(1,648,696

)

NET CURRENT ASSETS

1,922,067

2,054,461

TOTAL ASSETS LESS CURRENT LIABILITIES

2,180,983

2,299,287

CREDITORS

Amounts falling due after more than one year

7

(119,265

)

(614,693

)

PROVISIONS FOR LIABILITIES

(53,893

)

(60,426

)

NET ASSETS

2,007,825

1,624,168

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

2,007,725

1,624,068

SHAREHOLDERS' FUNDS

2,007,825

1,624,168

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 May 2025 and were signed by:

Mr G Culora - Director

1.	STATUTORY INFORMATION

UK Truckparts 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

Tangible and intangible assets

Fixtures and fittings, plant and machinery and motor vehicles are depreciated based on their useful lives. Depreciation on tangible assets is recognised on a reducing balance basis over their estimated useful lives.

The company assesses tangible fixed assets where there are indications that the assets could be impaired. Indicators of impairment include factors both inside and outside the organisation, which give indication of a reduction in value. Where there are indicators of a reduction in the carrying value of the asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Debtors

The directors assess the recoverability of the amounts outstanding at the balance sheet date, undertaking a review of the age profile of the debt, historic collection rates and the nature and class of the debt.

Work in progress

The directors assess the costs incurred in respect of ongoing jobs. Where costs have been incurred and time has been spent on a job which has yet to be billed at the balance sheet date, accrued work in progress is included in revenue based on underlying costs incurred and stage of completion.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over lease term

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the yearyear end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 29 (2023 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

10,245

9,799

6,690

403,657

430,391

Additions

-

-

659

93,853

94,512

Disposals

-

-

-

(33,200

)

(33,200

)

At 31 December 2024

10,245

9,799

7,349

464,310

491,703

DEPRECIATION

At 1 January 2024

10,245

8,213

6,272

160,835

185,565

Charge for year

-

396

179

78,047

78,622

Eliminated on disposal

-

-

-

(31,400

)

(31,400

)

At 31 December 2024

10,245

8,609

6,451

207,482

232,787

NET BOOK VALUE

At 31 December 2024

-

1,190

898

256,828

258,916

At 31 December 2023

-

1,586

418

242,822

244,826

Included within the carrying value of tangible fixed assets are assets held under finance leases or hire purchase agreements amounting to £162,762 (2023: £217,016)

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,147,088

621,939

Amounts owed by group undertakings

950,749

2,050,296

Other debtors

102,314

54,910

2,200,151

2,727,145

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

90,909

Hire purchase contracts

45,902

39,906

Trade creditors

1,158,727

968,746

Taxation and social security

201,976

170,253

Other creditors

31,345

378,882

1,437,950

1,648,696

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

-

219,697

Hire purchase contracts

119,265

170,185

Other creditors

-

224,811

119,265

614,693

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

-

310,606

Invoice discounting

-

231,190

-

541,796

There is a fixed and floating charge over the assets held by Santander UK PLC dated 16 June 2021 in respect of the invoice discounting finance. Charge code 0882 2875 0004.

In addition, the company has granted a debenture in favour of Santander UK PLC dated 28 May 2021, with a fixed and floating charge over the assets not already covered by the invoice discounting finance granted above. Charge code 0882 2875 0003

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Iain McMurray ACA (Senior Statutory Auditor)

for and on behalf of Thickbroom Coventry

11.	ULTIMATE CONTROLLING PARTY

The controlling party is UK Truckcentre Limited, company number 12152853.

Group accounts can be obtained by request at the registered office:

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP