REGISTERED NUMBER: 12470987 (England and Wales)

Kidderminster Motor Factors Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R D Fish

D G Fish

L J S Underhill

SECRETARY:

Miss L Fish

REGISTERED OFFICE:

47 Weeping Cross Lane

Ludlow

SHROPSHIRE

SY8 1JH

REGISTERED NUMBER:

12470987 (England and Wales)

ACCOUNTANTS:

Streets Dyke Ruscoe Ltd

110 Corve Street

Ludlow

SHROPSHIRE

SY8 1DJ

FIXED ASSETS

Tangible assets

4

119,095

91,607

CURRENT ASSETS

Stocks

600,069

414,123

Debtors

5

947,546

496,231

Prepayments and accrued income

-

69,407

Cash at bank and in hand

1,274,982

1,056,577

2,822,597

2,036,338

CREDITORS

Amounts falling due within one year

6

688,580

460,327

NET CURRENT ASSETS

2,134,017

1,576,011

TOTAL ASSETS LESS CURRENT LIABILITIES

2,253,112

1,667,618

PROVISIONS FOR LIABILITIES

28,264

21,399

NET ASSETS

2,224,848

1,646,219

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

2,224,749

1,646,120

2,224,848

1,646,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

D G Fish - Director

L J S Underhill - Director

R D Fish - Director

1.	STATUTORY INFORMATION

Kidderminster Motor Factors 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 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.

Improvements to property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

Taxation

Taxation for the year comprises current and deferred 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 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 balance sheet 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 year end and that are expected to apply to the reversal of the timing difference.

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.

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 15 (2023 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 January 2024

-

5,814

9,573

Additions

2,563

-

9,411

Disposals

-

(1,963

)

(1,365

)

At 31 December 2024

2,563

3,851

17,619

DEPRECIATION

At 1 January 2024

-

450

5,476

Charge for year

-

77

828

Eliminated on disposal

-

(152

)

(787

)

At 31 December 2024

-

375

5,517

NET BOOK VALUE

At 31 December 2024

2,563

3,476

12,102

At 31 December 2023

-

5,364

4,097

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

366

104,110

14,108

133,971

Additions

-

45,575

-

57,549

Disposals

-

(14,775

)

-

(18,103

)

At 31 December 2024

366

134,910

14,108

173,417

DEPRECIATION

At 1 January 2024

157

23,059

13,222

42,364

Charge for year

45

21,163

317

22,430

Eliminated on disposal

-

(9,533

)

-

(10,472

)

At 31 December 2024

202

34,689

13,539

54,322

NET BOOK VALUE

At 31 December 2024

164

100,221

569

119,095

At 31 December 2023

209

81,051

886

91,607

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

472,407

484,078

Other debtors

466,516

5,750

Prepayments

8,623

6,403

947,546

496,231

Included in other debtors is an outstanding loan due from a Self-Invested Personal Pension (SIPP), established to purchase a property from which the company operates. The directors have an interest in the SIPP. Interest on the loan is being charged at rates ranging from 3.6% to 4.25% per annum.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

262,039

159,047

Tax

231,560

178,801

Social security and other taxes

-

7,007

VAT

58,926

54,807

Other creditors

6,958

6,865

Directors' current accounts

98,081

45,000

Accrued expenses

31,016

8,800

688,580

460,327

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors are loans from the directors of which interest is charged to the company.

8.	RELATED PARTY DISCLOSURES

Kidderminster Motor Parts Ltd has paid rent to an entity in which the directors have an interest in the year of £7,549.50 (2024: £nil)