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10613118falseSale and Servicing of Sports Cars2024-02-292025-02-28http://www.companieshouse.gov.uk/2024-02-28http://www.companieshouse.gov.uk/cd:CompanySecretary12024-02-292025-02-28http://www.companieshouse.gov.uk/pt:PlantMachinery2024-02-28http://www.companieshouse.gov.uk/pt:ShareCapital2024-02-28http://www.companieshouse.gov.uk/cd:Director12024-02-292025-02-28http://www.companieshouse.gov.uk/pt:PlantMachinery2025-02-28http://www.companieshouse.gov.uk/pt:ShareCapital2025-02-28http://www.companieshouse.gov.uk/pt:FurnitureFittings2024-02-28http://www.companieshouse.gov.uk/pt:ToolsEquipment2024-02-28http://www.companieshouse.gov.uk/pt:FurnitureFittings2025-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12024-02-292025-02-28http://www.companieshouse.gov.uk/pt:ToolsEquipment2025-02-28http://www.companieshouse.gov.uk/cd:RegisteredOffice2024-02-292025-02-28http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2024-02-292025-02-28http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2025-02-28http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-02-28http://www.companieshouse.gov.uk/2024-02-292025-02-28http://www.companieshouse.gov.uk/2024-02-28http://www.companieshouse.gov.uk/cd:FRS1022024-02-292025-02-28http://www.companieshouse.gov.uk/2025-02-28http://www.companieshouse.gov.uk/cd:FullAccounts2024-02-292025-02-28http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2024-02-292025-02-28iso4217:GBPxbrli:sharesxbrli:pure


Registered number: 10613118






M P Sports Cars Limited


ACCOUNTS

FOR THE YEAR ENDED 28/02/2025
























Prepared By:
M P Bailey Accountancy
Sole Trader
72
Dunstall Road
Halesowen
West Midlands
B63 1BE


ACCOUNTS
FOR THE YEAR ENDED 28/02/2025





DIRECTORS
Mark Palmer



SECRETARY
Michael Paul Bailey


REGISTERED OFFICE
72 Dunstall Road
Halesowen
West Midlands
B63 1BE


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10613118



ACCOUNTANTS
M P Bailey Accountancy
Sole Trader
72
Dunstall Road
Halesowen
West Midlands
B63 1BE


ACCOUNTS
FOR THEYEARENDED28/02/2025



CONTENTS



		Page

Directors' Report		-

Accountants' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 28/02/2025

			2025		2024
	Notes		£		£

FIXED ASSETS
Tangible assets	3		43,537		52,342

CURRENT ASSETS
Stock		118,500		432,909
Debtors	5	203,238		186,342
Cash at bank and in hand		138,383		46,722
		460,121		665,973
CREDITORS: Amounts falling due within one year	6	281,773		365,809
NET CURRENT ASSETS			178,348		300,164
TOTAL ASSETS LESS CURRENT LIABILITIES			221,885		352,506


CREDITORS: Amounts falling due after more than one year	7		87,903		150,496


PROVISIONS FOR LIABILITIES AND CHARGES	8		556		338

NET ASSETS			133,426		201,672

CAPITAL AND RESERVES

Called up share capital	9		100		100
Profit and loss account			133,326		201,572
SHAREHOLDERS' FUNDS			133,426		201,672

For the year ending 28/02/2025 the company was entitled to exemption 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 10/10/2025 and signed on their behalf by



.............................
Mark Palmer
Director


1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and Machinery		25%
Fixtures and Fittings		15%
Equipment		25%


1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .


1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.


1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.


3. TANGIBLE FIXED ASSETS

	Plant and	Fixtures
	Machinery	and Fittings	Equipment	Total
	£	£	£	£
Cost
At 29/02/2024	70,137	4,344	8,646	83,127
Additions	19,500	-	370	19,870
Disposals	(23,499)	-	-	(23,499)
At 28/02/2025	66,138	4,344	9,016	79,498
Depreciation
At 29/02/2024	19,467	3,140	8,178	30,785
Disposals	(13,706)	-	-	(13,706)
For the year	17,852	527	503	18,882
At 28/02/2025	23,613	3,667	8,681	35,961
Net Book Amounts
At 28/02/2025	42,525	677	335	43,537
At 28/02/2024	50,670	1,204	468	52,342


4. STOCK	2025	2024
	£	£
Stock comprises:

Stock	118,500	432,909
	118,500	432,909


5. DEBTORS	2025	2024
	£	£
Amounts falling due within one year
Trade debtors	126,249	105,747
Other debtors	-	5,400
Prepayments	13,198	11,102
	139,447	122,249

Amounts falling due over more than one year
Long term debtor	63,791	64,093
	63,791	64,093
	203,238	186,342


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2025	2024
	£	£
UK corporation tax	-	19,075
Directors current account	-	26
Bank loans and overdrafts	5,000	2,000
Bank Loan	65,525	59,407
Loans	20,000	86,903
Hire purchase	32,265	35,711
Trade creditors	155,726	150,927
Other creditors	213	635
Accruals	3,044	11,125
	281,773	365,809


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2025	2024
	£	£
Bank loans (secured) >1yr	63,809	129,284
Trade Creditors >1yr	-	50
Taxation and social security >1yr	24,094	21,162
	87,903	150,496


8. PROVISIONS FOR LIABILITIES	2025	2024
	£	£
Pensions	556	338
	556	338


9. SHARE CAPITAL	2025	2024
	£	£
Allotted, issued and fully paid:
100 Ordinary shares of £1 each	100	100
	100	100


2. EMPLOYEES

	2025	2024
	No.	No.
Average number of employees	-	-