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Registered number: 13256451
All Car Components Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Richard Day Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13256451
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,731 17,294
24,731 17,294
CURRENT ASSETS
Stocks 5 271,632 163,569
Debtors 6 153,299 55,754
Cash at bank and in hand 8,705 1,599
433,636 220,922
Creditors: Amounts Falling Due Within One Year 7 (392,556 ) (206,959 )
NET CURRENT ASSETS (LIABILITIES) 41,080 13,963
TOTAL ASSETS LESS CURRENT LIABILITIES 65,811 31,257
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,661 ) (3,441 )
NET ASSETS 61,150 27,816
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 61,050 27,716
SHAREHOLDERS' FUNDS 61,150 27,816
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Gaunt
Director
Ms Emma Dobbin
Director
03/10/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
All Car Components Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13256451 . The registered office is Unit 1, Breckland House, Norwich Road, Watton, Norfolk, IP25 6JT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 7)
10 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 920 12,750 8,373 511 22,554
Additions 375 6,701 5,840 1,313 14,229
As at 31 March 2025 1,295 19,451 14,213 1,824 36,783
Depreciation
As at 1 April 2024 413 3,673 1,036 138 5,260
Provided during the period 211 3,601 2,705 275 6,792
As at 31 March 2025 624 7,274 3,741 413 12,052
Net Book Value
As at 31 March 2025 671 12,177 10,472 1,411 24,731
As at 1 April 2024 507 9,077 7,337 373 17,294
5. Stocks
2025 2024
£ £
Stock 271,632 163,569
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 150,926 55,310
Other debtors 2,373 444
153,299 55,754
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 176,192 50,919
Other creditors 178,445 146,003
Taxation and social security 37,919 10,037
392,556 206,959
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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Page 5
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 10,209 717
Later than one year and not later than five years 30,058 -
40,267 717
Page 5