REGISTERED NUMBER: 04058771 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2025

FOR

COLLINS PERFORMANCE ENGINEERING LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

7

FIXED ASSETS

Intangible assets

4

22,935

25,020

Tangible assets

5

30,691

16,848

53,626

41,868

CURRENT ASSETS

Stocks

6

152,838

155,556

Debtors

7

67,928

65,595

Cash at bank and in hand

60,046

59,982

280,812

281,133

CREDITORS

Amounts falling due within one year

8

(238,918

)

(297,315

)

NET CURRENT ASSETS/(LIABILITIES)

41,894

(16,182

)

TOTAL ASSETS LESS CURRENT LIABILITIES

95,520

25,686

PROVISIONS FOR LIABILITIES

(1,495

)

-

NET ASSETS

94,025

25,686

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

94,023

25,684

94,025

25,686

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by:

J M Collins - Director

1.	STATUTORY INFORMATION

Collins Performance Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04058771

Registered office:

c/o DPC

Stone House

55 Stone Road Business Park

Stoke-On-Trent

Staffordshire

ST4 6SR

The principal activity of the company during the year was the retail of performance exhaust systems.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

REVENUE RECOGNITION

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

AMORTISATION

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

25% reducing balance

Fixtures and fittings

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Website

-

25% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

STOCKS

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

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 statement of financial position 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 6 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 March 2024

and 30 March 2025

41,700

AMORTISATION

At 31 March 2024

16,680

Amortisation for year

2,085

At 30 March 2025

18,765

NET BOOK VALUE

At 30 March 2025

22,935

At 30 March 2024

25,020

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Website

Totals

£

£

£

£

£

COST

At 31 March 2024

201,927

42,099

72,126

8,604

324,756

Additions

-

-

28,093

-

28,093

Disposals

(9,200

)

-

(57,628

)

-

(66,828

)

At 30 March 2025

192,727

42,099

42,591

8,604

286,021

DEPRECIATION

At 31 March 2024

197,228

40,864

61,471

8,345

307,908

Charge for year

1,175

309

6,176

65

7,725

Eliminated on disposal

(9,200

)

-

(51,103

)

-

(60,303

)

At 30 March 2025

189,203

41,173

16,544

8,410

255,330

NET BOOK VALUE

At 30 March 2025

3,524

926

26,047

194

30,691

At 30 March 2024

4,699

1,235

10,655

259

16,848

6.

STOCKS

30.3.25

30.3.24

£

£

Finished goods

152,838

155,556

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.25

30.3.24

£

£

Trade debtors

39,985

37,684

Other debtors

857

859

VAT

-

5,038

Prepayments and accrued income

27,086

22,014

67,928

65,595

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.25

30.3.24

£

£

Bank loans and overdrafts

-

509

Trade creditors

58,050

55,201

Amounts owed to group undertakings

143,949

216,487

Tax

7,718

2,617

Social security and other taxes

2,618

2,792

VAT

11,108

-

Other creditors

2,846

4,218

Accruals and deferred income

12,629

15,491

238,918

297,315

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

9.	RELATED PARTY DISCLOSURES

Details of transactions between fellow group companies have not been disclosed in line with paragraph 33.1A of FRS 102.

10.	EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.

11.	ULTIMATE CONTROLLING PARTY

This company is a wholly owned subsidiary of Sue's Holdings Limited, a company incorporated in England and Wales.