REGISTERED NUMBER: 01690048 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

SPECIALIST CAR PRODUCTS LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

66,846

32,960

CURRENT ASSETS

Stocks

1,160,921

1,192,477

Debtors

6

366,877

393,861

Cash at bank and in hand

57,768

219,921

1,585,566

1,806,259

CREDITORS

Amounts falling due within one year

7

1,275,004

1,121,766

NET CURRENT ASSETS

310,562

684,493

TOTAL ASSETS LESS CURRENT LIABILITIES

377,408

717,453

CREDITORS

Amounts falling due after more than one year

8

(23,494

)

(33,928

)

PROVISIONS FOR LIABILITIES

(6,072

)

(5,908

)

NET ASSETS

347,842

677,617

CAPITAL AND RESERVES

Called up share capital

10

66

66

Capital redemption reserve

33

33

Retained earnings

347,743

677,518

SHAREHOLDERS' FUNDS

347,842

677,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Comprehensive Income has not been delivered.

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

D P Belt - Director

1.	STATUTORY INFORMATION

Specialist Car Products 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:

01690048

Registered office:

Unit 12

Faygate Business Centre

Faygate

West Sussex

RH12 4DN

The presentation currency of the financial statements is the Pound Sterling (£).

All amounts in the financial statements have been rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In preparing these financial statements, the members have made the following judgements:

- Determine whether leases entered into by the entity either as a lessor or a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine whether there are indicators of impairment of the entity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover and income recognition

Turnover represents the total invoice value, excluding value added tax, of goods sold and services rendered during the year. Income is recognised once the company meets all of its contractual obligations.

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

-

33.33% on cost, 25% on reducing balance and 20% 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.

Net realisable value is based on estimated selling price less further costs to completion and disposal.

Financial instruments

Basic financial assets, which include debtors, cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including creditors, loans from fellow group companies initially recognised at transaction price and are subsequently recognised at amortised cost.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 15 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

313,475

Additions

55,151

Disposals

(1,181

)

At 31 March 2025

367,445

DEPRECIATION

At 1 April 2024

280,515

Charge for year

21,265

Eliminated on disposal

(1,181

)

At 31 March 2025

300,599

NET BOOK VALUE

At 31 March 2025

66,846

At 31 March 2024

32,960

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

269,582

355,508

Other debtors

97,295

38,353

366,877

393,861

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,448

10,179

Trade creditors

283,091

202,360

Amounts owed to group undertakings

913,699

808,805

Taxation and social security

14,085

39,233

Other creditors

53,681

61,189

1,275,004

1,121,766

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

3,494

13,928

Other creditors

20,000

20,000

23,494

33,928

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

1,907

3,269

Between one and five years

-

1,907

1,907

5,176

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

66

Ordinary shares

£1

66

66

11.	CONTINGENT LIABILITIES

The company has granted a fixed charge over its land and buildings and a composite guarantee in favour of the group's bankers to secure the banking facilities of the group. At the balance sheet date the total amount due to the group's bankers in respect of the fixed charge and composite guarantee was £145,342 (2024: £166,713).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company was owed £5,577 (2024: £5,550) by the directors. These loans are provided interest free and the amounts are repayable on demand.

13.	RELATED PARTY DISCLOSURES

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.

At the balance sheet date the company owed £12,213 (2024: £2,704) to the directors. The loans are provided interest free and the amounts are payable on demand.

14.	PARENT COMPANY

The parent and ultimate parent company is SCP (Holdings) Limited, a company registered in England and Wales. The registered office of SCP (Holdings) Limited is Unit 12, Faygate Business Centre, Faygate, West Sussex, RH12 4DN.