Click Spares Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Seahunt House
Manor Farm
Kewstoke
Weston-Super-Mare
North Somerset
BS22 9JL
England

These financial statements were authorised for issue by the Board on 25 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Click Spares Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 25 November 2025 was Peter Roberts, who signed for and on behalf of Roberts & Co (Bristol) Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Click Spares Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Short leasehold land and buildings	33.33% straight line
Plant and machinery	10% reducing balance
Fixtures and fittings	33.33% reducing balance
Office equipment	33.33% straight line
Motor vehicles	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Cost comprises of direct packaging materials and where applicable, those overheads that have been incurred in bringing the stocks to their present location and condition.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Click Spares Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Click Spares Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2024 - 23).

4	Tangible assets

	Short leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 April 2024	14,572	20,219	37,197	67,257	112,947
Additions	1,712	2,257	-	1,332	-
At 31 March 2025	16,284	22,476	37,197	68,589	112,947
Depreciation
At 1 April 2024	12,430	17,634	22,771	46,225	108,285
Charge for the year	1,557	1,919	1,443	15,552	4,662
At 31 March 2025	13,987	19,553	24,214	61,777	112,947
Carrying amount
At 31 March 2025	2,297	2,923	12,983	6,812	-
At 31 March 2024	2,142	2,585	14,426	21,032	4,662

Click Spares Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets (continued)

	Total £
Cost or valuation
At 1 April 2024	252,192
Additions	5,301
At 31 March 2025	257,493
Depreciation
At 1 April 2024	207,345
Charge for the year	25,133
At 31 March 2025	232,478
Carrying amount
At 31 March 2025	25,015
At 31 March 2024	44,847

Included within the net book value of land and buildings above is £2,297 (2024 - £2,142) in respect of short leasehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	7,361	4,879

6

Debtors

Current	2025 £	2024 £
Trade debtors	193,722	201,858
Prepayments	72,873	62,591
	266,595	264,449

Click Spares Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	1,000	4,817
Trade creditors		81,810	77,035
Taxation and social security		96,738	79,365
Accruals and deferred income		16,300	17,536
Other creditors		274	347
		196,122	179,100

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	1,000

Loans and borrowings relate to redeemable preference shares, the redeemable preference shares are redeemable at any time at the option of either the company or the shareholder. The redemption of these shares is expected to be enacted in the coming year, as a result of which these shares have been classified as a liability due in less than one year. Dividends may be paid to the shareholder of the preference shares to the exclusion of the other classes of shares.

Click Spares Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary A of £1 each	51	51	51	51
Ordinary B of £1 each	49	49	49	49
	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Redeemable preference shares	-	1,000

Current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	-	4,817
Redeemable preference shares	1,000	-
	1,000	4,817