Thor Motor Factors Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02112909 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2025

for

Thor Motor Factors Limited

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

8

Director:

R Morjaria

Registered office:

185 Fengate

Peterborough

England

PE1 5PE

Registered number:

02112909 (England and Wales)

Accountants:

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thor Motor Factors Limited for the year ended 31 August 2025 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Thor Motor Factors Limited in accordance with the terms of our engagement letter dated 20 February 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Thor Motor Factors Limited and state those matters that we have agreed to state to the director of Thor Motor Factors Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thor Motor Factors Limited and its director for our work or for this report.

It is your duty to ensure that Thor Motor Factors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thor Motor Factors Limited. You consider that Thor Motor Factors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Thor Motor Factors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

26 May 2026

Fixed assets

Tangible assets

5

282,637

276,625

Investments

6

200,045

482,682

476,670

Current assets

Stocks

482,364

487,794

Debtors

7

2,597,201

2,663,014

Cash at bank and in hand

323,831

367,556

3,403,396

3,518,364

Creditors

Amounts falling due within one year

8

2,438,582

2,743,428

Net current assets

964,814

774,936

Total assets less current liabilities

1,447,496

1,251,606

Creditors

Amounts falling due after more than one
year

9

(31,221

)

(8,098

)

Provisions for liabilities

(18,311

)

(7,747

)

Net assets

1,397,964

1,235,761

Capital and reserves

Called up share capital

159,154

Share premium

75,490

Capital redemption reserve

3,000

Retained earnings

1,160,320

998,117

1,397,964

1,235,761

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 May 2026 and were signed by:

R Morjaria - Director

1.	Statutory information

Thor Motor Factors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land & Buildings

2% per annum

Fixtures & Fittings

25% reducing balance

Motor Vehicles

25% reducing balance

Plant & Machinery

25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

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

4.	Employees and directors

The average number of employees during the year was 22 (2024 - 22 ) .

5.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

Cost

At 1 September 2024

223,305

14,500

130,221

232,995

601,021

Additions

-

75,290

Disposals

-

(65,500

)

(65,500

)

At 31 August 2025

223,305

14,500

130,221

242,785

610,811

Depreciation

At 1 September 2024

80,421

3,323

113,298

127,354

324,396

Charge for year

4,466

3,625

4,231

32,171

44,493

Eliminated on disposal

-

(40,715

)

(40,715

)

At 31 August 2025

84,887

6,948

117,529

118,810

328,174

Net book value

At 31 August 2025

138,418

7,552

12,692

123,975

282,637

At 31 August 2024

142,884

11,177

16,923

105,641

276,625

6.	Fixed asset investments

Other

investments

£

Cost

At 1 September 2024

and 31 August 2025

200,045

Net book value

At 31 August 2025

200,045

At 31 August 2024

200,045

The Fixed Asset Investment is a 75% shareholding of Ordinary shares in Thor Car Parts and Accessories Limited. The shareholders' funds as at 31st August 2025 were £882,063 (2024: £1,099,156)

7.

Debtors: amounts falling due within one year

2025

2024

£

Trade debtors

1,158,314

1,246,618

Amounts owed by group undertakings

1,422,515

1,385,424

VAT

-

13,620

Prepayments and accrued income

16,372

17,352

2,597,201

2,663,014

8.

Creditors: amounts falling due within one year

2025

2024

£

Bank loans and overdrafts

32,691

376,944

Hire purchase contracts

24,761

22,141

Trade creditors

1,534,519

1,407,302

Amounts owed to group undertakings

764,257

846,448

Corporation tax

-

51,722

Social security and other taxes

15,618

11,070

VAT

1,602

-

Other creditors

14,594

6,987

Accruals and deferred income

50,540

20,814

2,438,582

2,743,428

9.

Creditors: amounts falling due after more than one year

2025

2024

£

Hire purchase contracts

31,221

8,098

10.	Related party disclosures

The company's ultimate controlling party is Thor Holdings Limited by virtue of the ownership of 100% of the issued share capital in the company. No management charges (2024: £30,000) were paid to Thor Holdings Limited during the year.

At 31 August 2025, Thor Motor Factors Limited is owed a balance of £1,406,318 (2024: £1,385,424) from Thor Holdings Limited.

At 31 August 2025, Thor Motor Factors Limited owed a balance of £764,257 (2024: £846,448) to Thor Car Parts and Accessories Limited.

At 31 August 2025, Thor Motor Factors Limited is owed a balance of £16,197 (2024: £nil) from Parsnip Crumble Limited.