REGISTERED NUMBER: 00508665 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Pit Parts Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

N E Smith

SECRETARY:

N E Smith

REGISTERED OFFICE:

39 High Street

Wednesfield

Wolverhampton

West Midlands

WV11 1ST

BUSINESS ADDRESS:

Units 8 & 9

Conduit Road

Norton Canes

Cannock

Staffordshire

WS11 3TJ

REGISTERED NUMBER:

00508665 (England and Wales)

ACCOUNTANTS:

Crowther Jordan Limited

Chartered Accountants

39 High Street

Wednesfield

Wolverhampton

West Midlands

WV11 1ST

FIXED ASSETS

Tangible assets

4

33,542

33,542

Investment property

5

415,000

415,000

448,542

448,542

CURRENT ASSETS

Debtors

6

637,580

637,580

Cash at bank

20,111

20,111

657,691

657,691

CREDITORS

Amounts falling due within one year

7

(81,906

)

(81,906

)

NET CURRENT ASSETS

575,785

575,785

TOTAL ASSETS LESS CURRENT LIABILITIES

1,024,327

1,024,327

PROVISIONS FOR LIABILITIES

(19,018

)

(19,018

)

NET ASSETS

1,005,309

1,005,309

CAPITAL AND RESERVES

Called up share capital

9

100

100

Share premium

6,850

6,850

Other reserves

350,981

350,981

Retained earnings

647,378

647,378

SHAREHOLDERS' FUNDS

1,005,309

1,005,309

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 30 October 2025 and were signed by:

N E Smith - Director

1.	STATUTORY INFORMATION

Pit Parts 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 as modified by the revaluation of certain assets.

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.

Turnover

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

Rental income represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

106,280

DEPRECIATION

At 1 January 2024

and 31 December 2024

72,738

NET BOOK VALUE

At 31 December 2024

33,542

At 31 December 2023

33,542

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

415,000

NET BOOK VALUE

At 31 December 2024

415,000

At 31 December 2023

415,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2017

297,647

Valuation in 2019

(20,000

)

Valuation in 2021

85,000

Cost

52,353

415,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

15,071

15,071

Amounts owed by related parties

620,856

620,856

Other debtors

1,653

1,653

637,580

637,580

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,171

1,171

Amounts owed to group undertakings

62,511

62,511

Taxation and social security

15,224

15,224

Other creditors

3,000

3,000

81,906

81,906

8.	SECURED DEBTS

Hire purchase liabilities are secured on the specific asset to which the liability relates.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pit Parts Limited for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Pit Parts Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pit Parts Limited and state those matters that we have agreed to state to the director of Pit Parts Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pit Parts Limited and its director for our work or for this report.

It is your duty to ensure that Pit Parts Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pit Parts Limited. You consider that Pit Parts Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pit Parts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Crowther Jordan Limited

Chartered Accountants

39 High Street

Wednesfield

Wolverhampton

West Midlands

WV11 1ST

30 October 2025