Registration number: 06613414

Express Car Parts Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Express Car Parts Limited

(Registration number: 06613414)
Statement of Financial Position
31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	19,482	17,950
Current assets
Stocks	5	213,575	209,359
Debtors	6	91,111	114,330
Cash at bank and in hand		200	197
		304,886	323,886
Creditors: Amounts falling due within one year	7	(307,538)	(314,244)
Net current (liabilities)/assets		(2,652)	9,642
Total assets less current liabilities		16,830	27,592
Creditors: Amounts falling due after more than one year	7	(60,241)	(88,649)
Net liabilities		(43,411)	(61,057)
Capital and reserves
Called up share capital		150,100	150,100
Retained earnings		(193,511)	(211,157)
Shareholders' deficit		(43,411)	(61,057)

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 March 2026
 

Express Car Parts Limited

(Registration number: 06613414)
Statement of Financial Position
31 August 2025

......................................... M Taylor Director

Express Car Parts Limited

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

1	General information

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

The address of its registered office is:
Unit 8, Parsonage Park
Horsham
West Sussex
RH12 4AL

These financial statements were authorised for issue by the director on 26 March 2026.

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.

Going concern

The company is dependent on the continued support of its director and shareholders, in its ability to continue as a going concern. The shareholders have provided the company with loans without any formal repayment terms. The director has confirmed that the loans will not be repaid until the company has sufficient funds in place to do so, and on this basis the director considers that it is appropriate for the financial statements to be prepared on a going concern basis.

Express Car Parts Limited

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

2	Accounting policies (continued)

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 sales/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 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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
Fixtures and fittings	15% reducing balance
Motor vehicles	over 4 years
Equipment	over 5 years
Plant and machnery	over 4 years

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.

Express Car Parts Limited

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

2	Accounting policies (continued)

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

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.

Express Car Parts Limited

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

2	Accounting policies (continued)

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.

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.

Financial instruments

Classification
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 7).

Express Car Parts Limited

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 September 2024	84,308	24,355	4,219	112,882
Additions	-	7,500	-	7,500
Disposals	-	(24,354)	-	(24,354)
At 31 August 2025	84,308	7,501	4,219	96,028
Depreciation
At 1 September 2024	68,381	24,352	2,197	94,930
Charge for the year	1,632	3,281	1,055	5,968
Eliminated on disposal	-	(24,352)	-	(24,352)
At 31 August 2025	70,013	3,281	3,252	76,546
Carrying amount
At 31 August 2025	14,295	4,220	967	19,482
At 31 August 2024	15,926	3	2,021	17,950

5

Stocks

	2025 £	2024 £
Other inventories	213,575	209,359

6

Debtors

Current	2025 £	2024 £
Trade debtors	76,111	84,330
Other debtors	15,000	30,000
	91,111	114,330

Express Car Parts Limited

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	36,171	45,419
Trade creditors		209,208	181,542
Taxation and social security		9,560	4,669
Accruals and deferred income		2,070	1,631
Other creditors		50,529	80,983
		307,538	314,244

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	60,241	88,649

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	29,063	50,790
Other borrowings	31,178	37,859
	60,241	88,649

Express Car Parts Limited

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

8	Loans and borrowings (continued)

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	21,000	21,000
Bank overdrafts	13,571	19,619
Other borrowings	1,600	4,800
	36,171	45,419