Value Car Parts Ltd

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: 11679305

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		11,478		22,036

			11,478		22,036
CURRENT ASSETS
Stocks		84,659		78,254
Debtors		2,952,129		1,614,593
Cash at bank and in hand		40,257		140,059

		3,077,045		1,832,906
Creditors: Amounts Falling Due Within One Year		(2,515,637 )		(1,336,705 )

NET CURRENT ASSETS (LIABILITIES)			561,408		496,201

TOTAL ASSETS LESS CURRENT LIABILITIES			572,886		518,237

Creditors: Amounts Falling Due After More Than One Year			(8,630 )		(25,250 )

NET ASSETS			564,256		492,987

CAPITAL AND RESERVES
Called up share capital	6		300		300
Profit and Loss Account			563,956		492,687

SHAREHOLDERS' FUNDS			564,256		492,987

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Value Car Parts Ltd

Abridged Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr J P Patel

Director

26 December 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Value Car Parts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11679305 . The registered office is 37 Craven Park Road, Harlesden, London, NW10 8SE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	20% straight line
Fixtures & Fittings	20% straight line
Computer Equipment	25% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 5)

4. Tangible Assets

	Total
	£
Cost
As at 1 January 2024	55,456
Additions	614

As at 31 December 2024	56,070

...CONTINUED

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Value Car Parts Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2024

Depreciation
As at 1 January 2024	33,420
Provided during the period	11,172

As at 31 December 2024	44,592

Net Book Value
As at 31 December 2024	11,478

As at 1 January 2024	22,036

5. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	7,230	7,230
Later than one year and not later than five years	5,423	12,653

	12,653	19,883
Less: Finance charges allocated to future periods	684	1,294

	11,969	18,589

6. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	300	300

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