Champion Motor Spares Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04232250

CHAMPION MOTOR SPARES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 July 2025

CHAMPION MOTOR SPARES LIMITED

STATEMENT OF FINANCIAL POSITION

31 July 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Tangible assets	6		14,021	18,726

CURRENT ASSETS

Stocks	90,724	83,596
Cash at bank and in hand	207,390	139,870
	---------	---------
	298,114	223,466

CREDITORS: amounts falling due within one year	7	( 259,711)		( 252,398)
		---------		---------
NET CURRENT ASSETS/(LIABILITIES)			38,403	( 28,932)
			--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES			52,424	( 10,206)

PROVISIONS

Taxation including deferred tax	( 3,505)	( 3,558)
	--------	--------
NET ASSETS/(LIABILITIES)	48,919	( 13,764)
	--------	--------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	48,819	( 13,864)
	--------	--------
SHAREHOLDER FUNDS/(DEFICIT)	48,919	( 13,764)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

CHAMPION MOTOR SPARES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 29 April 2026 , and are signed on behalf of the board by:

M Gledhill

Director

Company registration number: 04232250

CHAMPION MOTOR SPARES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Maplewood, Westoby Lane, Barrow Upon Humber, North Lincolnshire, DN19 7DJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents the amount of motor spares sales recognised during the year, exclusive of Value Added Tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Computer Equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 10 (2024: 10 ).

5. TAX ON PROFIT

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	25,967	15,501
Adjustments in respect of prior periods	–	( 5)
	--------	--------
Total current tax	25,967	15,496
	--------	--------

Deferred tax:

Origination and reversal of timing differences	( 894)	( 1,197)
Impact of change in tax rate	841	–
	----	-------
Total deferred tax	( 53)	( 1,197)
	--------	--------
Tax on profit	25,914	14,299
	--------	--------

6. TANGIBLE ASSETS

	Fixtures and fittings	Motor vehicles	Computer equipment	Total
	£	£	£	£
Cost
At 1 August 2024	4,663	43,951	1,816	50,430
Disposals	–	–	( 1,666)	( 1,666)
	-------	--------	-------	--------
At 31 July 2025	4,663	43,951	150	48,764
	-------	--------	-------	--------
Depreciation
At 1 August 2024	4,528	25,410	1,766	31,704
Charge for the year	20	4,635	50	4,705
Disposals	–	–	( 1,666)	( 1,666)
	-------	--------	-------	--------
At 31 July 2025	4,548	30,045	150	34,743
	-------	--------	-------	--------
Carrying amount
At 31 July 2025	115	13,906	–	14,021
	-------	--------	-------	--------
At 31 July 2024	135	18,541	50	18,726
	-------	--------	-------	--------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	199,583	178,440
Corporation tax	25,967	15,501
Social security and other taxes	35,260	33,058
Other creditors	( 1,099)	25,399
	---------	---------
	259,711	252,398
	---------	---------